The new report by Expert Market Research titled, ‘Global Halal Food Market Size, Share, Price, Trends, Report and Forecast 2020-2025’, gives an in-depth analysis of global halal food market, assessing the market based on its segments like products, distribution channels, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2015-2025)
• Historical Market Size (2019): USD 1.2 Trillion
• Forecast CAGR (2020-2025): 17%
• Forecast Market Size (2025): USD 3 Trillion
Halal food products are witnessing increasing popularity among both the Muslim and non-Muslim populations as they are increasingly perceived as not just a symbol of religious observation, but also as a marker for food safety, hygiene, and reliability. In addition, halal food items are packed and stored in utensils that have been cleaned in compliance with the guidelines. These factors are driving the market for halal food forward.
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Industry Definition and Major Segments
Halal food refers to food products and drinks that are strictly prepared in compliance with the rules of the Islamic Dietary Law. According to this rule, meat, blood, pork, by-products of food and blood, animals’ dead before slaughter, and those not slaughtered in the name of God are deemed to be ‘haram’ or impermissible for consumption.
Based on the product, the industry is divided into:
On the basis of distribution channel, the industry is segmented into:
• Traditional Retailers
• Supermarkets and Hypermarkets
By end-use, the market is segmented into:
• Food Service
The regional markets for halal food include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
On the geographical front, the Asia Pacific is the leading market for halal food, accounting for most of the total market share. The growth of the Asia Pacific halal food market can be attributed to the prominent presence of regulatory authorities and the presence of a large religious and cultural population in the region who consume halal food. Also, over the past few years, halal food items have become more than just a certification of adhering to religious ways to a symbol that confirms food safety, hygiene, and reliability. For instance, as opposed to a single health check for non-halal animals, halal animals are made to undergo two health checks. In addition, several Islamic and non-Islamic countries are adopting stringent regulatory structures, consisting of internationally agreed principles, to draw new entrants to the market. The halal food market is finding impetus for its growth in the implementation of regulations such as the halal labeling and certification rules introduced by the Government of Indonesia in 2019. With the increasing demand, manufacturers have widened their product portfolio by introducing a number of value-added food items, including soups, hot dogs, candies, cookies, burgers, sandwiches, creams, and pizzas. Moreover, the thriving e-commerce industry has made it easier for consumers to access halal-certified food products. In view of these factors, the market growth is expected to be robust during the period 2020-2025.
Key Market Players
The major players in the market are Al Islami Foods, QL Foods Sdn Bhd, Nestlé S.A (SWX: NESN), DagangHalal Sdn. Bhd., Cargill Inc., and Tahira Foods Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
Note 1: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
Note 2: For a snapshot of the primary and secondary data of the market (2015-2025), along with business strategies and detailed market segmentation, please click on request sample report. The sample report shall be delivered to you within 24 hours.
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