Halal Food Market size was valued at USD 2.4 Trillion in 2023 and is predicted to cross USD 4.4 Trillion by the end of 2036, expanding at more than 10.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of halal food is estimated at USD 2.4 Trillion. The increasing Muslim population is stimulating a rise in the demand for halal food. Moreover, according to Population Reference Bureau; the total Muslim population in the world is estimated to increase by 35% and reach 2.2 billion by 2030.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
10.8% |
Base Year Market Size (2023) |
USD 2.4 Trillion |
Forecast Year Market Size (2036) |
USD 4.4 Trillion |
Regional Scope |
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Product Type (Meat Products, Dairy Products, Cereals & Grain,)
The meat segment is predicted to dominate over 65% halal food market share by 2036. The need for bacteria-free meat products is increasing among consumers and their awareness of purchasing authentic products is driving growth for the market.
Halal meat products are safe, hygienic, and of high quality. Also, as per Muslim beliefs, the animal needs to be alive during the process of slaughtering, or else the meat is considered haram. 70 % of the meat-consuming population in England prefers slaughtering animals without prior stunning.
Distribution Channel (Hypermarkets & Supermarkets, Convenience Stores, E-commerce, Specialty Stores)
The hypermarket & supermarket is estimated to gain a significant share in the upcoming years. Since these are the most convenient choices for consumers to buy halal foods, everything is under one roof. Additionally, flourishing supermarkets and hypermarkets made halal products accessible to everyone. There are nearly 9000 supermarkets in Canada. This also resulted in the halal products being valued by a wide range of consumers as the products are certified, ensuring quality and safety. Many supermarkets even sell their own labeled products which are halal certified.
Product Base (Modified Starch, Native Starch, Sweeteners, Others)
The native starch segment is poised to garner notable growth during the forecast period. Native starch is halal certified and is a white power derived from corn such as maize. Though it is plant-derived, it is acceptable to the halal food consumers. The native starch retail and food service sector is poised to reach 393653 tonnes in 2027.
Our in-depth analysis of the market includes the following segments:
Product Type |
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Distribution Channel |
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Product Base |
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Asia Pacific Market Forecast
Asia Pacific region in halal food market is set to hold more than 40% revenue share by 2036. Rapid consumption of fast food and an increasing number of Muslim tourists are driving growth in the market. The diet in the Asia Pacific region varies as per the religion and the Islam-following population prefers only halal food. According to a report, the halal processed food garnered an export value of nearly USD 90 Million in 2019 from South Korea to Indonesia. Even consumer preferences are changing these days, around 30% of the Japanese population is interested in halal food
Europe Market Analysis
In halal food market, European region is estimated to capture over 5% share by 2036 owing to the high demand for halal food from the Muslim population living in the region and the high-end consumption of halal meat. As per Phew Research Center, nearly 4.9% of the European Population constituted Muslims in 2016.
Moreover, the region has a significant number of non-Muslim Populations who are also actively purchasing halal goods since these products have various health benefits such as low saturated fat. Further, in the UK, reports say that 20% of chickens slaughtered every month are halal, a very evident reason for the growth of the market. Also, according to a report, nearly 65% of Muslims in France buy halal meat.
The halal food market is fragmented, with the top five companies occupying 20%. The major players in this market are Nestle SA, Tahira Foods Ltd, Saffron Road, AI Islami Foods Co., and QL Foods Sdn Bhd.
Author Credits: Parul Atri
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