by Halal food refers to food products and beverages prepared in accordance with Islamic dietary guidelines. Halal foods include meat and poultry items derived from livestock that have been slaughtered according to Islamic method. Additionally, halal food products cannot contain any components that are considered non-halal such as pork, alcohol or any other forbidden ingredients. Growing preference for healthy and Ethical lifestyle among Muslim consumers is driving the demand for halal certified food products across the world. Rising Muslim population coupled with rising disposable incomes in Muslim majority countries is further fueling the market growth.
The Global Halal Food Market is estimated to be valued at US$ 1.43 billion in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Halal Food market are Cargill Inc., Al Islami Foods, QL Resources Sdn Bhd, Haoyue Group, Kawan Food Berhad, BRF S.A., Saffron Road Food. Key players are expanding their production capacities and product portfolios to strengthen their market position.
The global Halal Food Market Size offers lucrative opportunities for market players owing to rising focus on halal certifications and labeling. Growing Muslim travel and tourism industry is further creating new avenues for halal food producers and suppliers.
Asia Pacific dominates the global halal food market and the trend is expected to continue over the forecast period. Rising Muslim population along with increasing disposable incomes in the region is driving the demand for halal certified food products in Asia Pacific.
Market drivers
Rising Muslim population worldwide is the key driver boosting the halal food market growth. According to Pew Research Center, the global Muslim population is expected to increase by about 35% in the next 20 years. Additionally, increasing awareness regarding halal food certification standards is compelling food manufacturers and retailers to offer halal food products. This is subsequently creating opportunities for halal food producers and helping the market to grow substantially.
PEST Analysis
Political: The Halal Food Market is affected by political conditions that influence religious lifestyle and dietary rules, with some governments implementing strict policies to ensure food standards.
Economic: Rising incomes and economic growth in Muslim-majority nations have increased demand for certified halal products. Growing affluence allows for greater choice in dietary options.
Social: Cultural identity and religious beliefs drive consumption patterns, with many Muslims preferring halal items that adhere to Islamic laws. Younger generations are interested in authentic and ethically-sourced foods.
Technological: Advanced traceability, certification, and labeling systems track ingredients and verify compliance with halal standards throughout complex global supply chains. Digital platforms facilitate access to a wider range of certified products.
Geographical Concentration
In terms of value, the market is currently concentrated in Asia Pacific, where countries like Indonesia, Malaysia, Pakistan and Iran have huge Muslim populations and demand for halal-certified foods is robust. Being home to over 60% of the world’s Muslims, the Asia Pacific region dominates halal food consumption globally.
Fastest Growing Region
The Middle East and Africa region is projected to be the fastest growing for the halal food market during the forecast period. This can be attributed to rising incomes, population growth, and stricter enforcement of religious requirements across Gulf Cooperation Council nations and select African economies.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
