Halal Food Market
Halal Foods are food items that are free from components that are prohibited for consuming by Muslim community, according to the Islamic law. These foods are prepared, processed, produced, made, manufactured, and stored in utensils and machinery that have cleaned according to laws of Islamic community. Global halal food market is driven by factors such as increasing Muslim population coupled with improvement in supply chain in the retail sector. Lack of global regulatory body for certification of halal food products is expected to restrain growth of the halal food market in the near future. New halal standards are being developed by the European Committee for Standardization (CEN) for halal-based products, so as to prevent individual member states from creating their own national halal standards.
Global halal food market is expanding rapidly, owing to rising Muslim population together with rising people who consume these food for non-religious reasons. The halal food market share in US is expected to increase to USD 9.82 billion from 2023 to 2030, and the market's growth momentum will accelerate at a CAGR of 6.14%.
Market Dynamics
In 2022, meat, poultry and seafood products segment accounted for the largest market share in the global halal food market. In 2022, the segment contributed for over 46.20% share in the market in terms of revenue. Increasing consumption of meat products across the globe is expected to drive demand for meat products across the globe.
Among region, in 2022, Asia Pacific held the dominant position in the global halal food market and contributed revenue share of around 56.0% in the global market. The market growth is driven by increasing population in the region coupled with rising consumption of halal food in ASEAN countries such as Malaysia, Indonesia, and others.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Detailed Segmentation:
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