MENA Halal Food Market was valued at US$ 192.6 billion in 2022, According to MENA Halal Food Market Report, by Product Type (Dairy Products, Meat Products, Grain Products, Vegan Products, and Others), by Distribution Channel (Hypermarkets, Supermarkets, Specialty Stores, Online Channels, Convenience Stores, and Others), and by Region (Middle East and North Africa).
MENA halal food market was valued at US$ 192.6 Billion in 2022. Halal food market is expected to register a CAGR of 9.15% over the forecast period (2023–2030) to reach US$ 387.9 Billion by 2030.
Rising Muslim population and surge in the awareness about the nutritional benefits of halal food products are the major factors fostering the growth of the market. Changing lifestyle, growth in the penetration of online shopping especially in the developing economies and rising focus of the manufacturers on widening the product portfolio are other important factors acting as market growth determinants. Rising expenditure to undertake research and development proficiencies, increasing popularity of halal food and beverage items among non-Muslim population base and spurt in the number of hypermarkets and supermarkets will further induce growth in the market value.
The unprecedented outbreak of the COVID-19 pandemic has not only been a tragic health issue globally but has also severely impacted the global economy on account of restrictions set by the governments. However, despite its massive impact on industries worldwide, the challenges posed to the halal food industry in the Middle East and Africa region have not been significant enough, owing to the ever-increasing demand for halal food & beverage products majorly across countries like Saudi Arabia, United Arab Emirates, Kuwait, Egypt, Bahrain, among others.
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Browse 50 market data tables* and 40 figures* on "MENA Halal Food Market” - Forecast to 2030.
Key Trends and Analysis of the MENA Halal Food Market:
- Among product type, the meat products segment accounted for a significant market share of 51% in 2022. The segment is projected to maintain its dominance over the forecast period, owing to the increasing consumption of meat products in the MENA According to Agriculture & Agri-Food Canada on livestock and meat trends in the Gulf Cooperation Council (GCC), imports of meat & meat products were valued at US$ 5 billion in 2020.
Key Takeaways of the MENA Halal Food Market:
- According to Coherent Market Insights 2021, among distribution channel, the supermarkets segment held the largest revenue share of 45% in the MENA halal food market in 2022. The segment is projected to maintain its dominance throughout the forecast period, owing to the growing presence of supermarket chains. For instance, according to the U.S. Department of Agriculture (USDA) 2020 Report, the total number of supermarkets in Egypt was 1,056 in 2020 and it increased to over 1,215 in 2021
- Key players operating in the halal food market are focusing on various strategies in order to strengthen their market presence and expand their product portfolio. For instance, in August 2021, Tanmiah Food Company, manufacturer and distributer fresh and processed poultry and poultry related products announced its plans to expand regionally and globally. The company which is also Saudi Arabia's leading poultry producer, raised US$ 107 million through its initial public offering in August 2021, and aims to expand operations pertaining to halal food products regionally and into international markets like the U.S., Europe, Asia, and Latin America to cater to the Muslim population.
