Global Halal Food Market
Global Halal Food Market was valued at US$ 3.65 Tn in 2019, and is expected to reach US$ 12.39 Tn by 2027, at a CAGR of 16.5 % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective ofthe report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Halal Food market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in Halal Food market.
The major driving factors behind the growth of the halal food market are increasing Muslim population and their substantially increasing expenditure on food & non-beverages. However, there are a few constraints expected to hamper the industry growth. A persistent confusing environment for establishing international halal standards, mainly because they are framed by various types of organizations is a major restraint.
Based on the Product type, Halal meat has always been a remarkable business segment. The formation of Organization of Islamic Cooperation (OIC) has been well placed to take the initiative of setting an international standard for these food items. Owing to the formation of these types of organizational figures the industry participants have been successful to a great extent in building consumer trust and pushing penetration of the product category to even higher levels.
Milk & milk products such as processed milk, cheese, and yogurt are expected to be one of the primary product segment driving growth for the global industry.
Based on the distribution channel, The E-Commerce segment is expected to witness a lucrative growth in terms of revenue in the near future, due to an increasing preference for online shopping and availability of the wide range of halal products online.
World over initiatives has been seen escalating since the last few years with the advent of few events in Asia Pacific and the Middle East & African region, which are the top two regions contributing to the growth of the global Halal Food market. A major bilateral initiative to mention would be the cooperation between Abu Dhabi and South Korea, which allowed South Korea to gain further access to the global halal food market. Asia Pacific was the leading consumer in 2017. Around 60% of the global Muslim population resides in this region, which is the main driving factor in the region. The demand for halal food products is high across the Islamic countries such as, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar due to religious norms which is expected to result in significant revenue generation across the Middle East and African region.
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Scope of the Global Halal Food Market
Global Halal Food Market, By Product Type
• Cereals & Grains
• Fruits & Vegetables
• Milk & Dairy Products
• Meat
• Poultry & Seafoods
Global Halal Food Market, By Product Base
• Native Starch
• Modified Starch
• Sweeteners
Global Halal Food Market, By Distribution Channel
• Supermarkets & Hypermarkets
• Convenience Stores
• Specialty Stores
• E-Commerce
• Other Retail Formats
Global Halal Food Market, by Region
• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• South America
Key Players operating in the Global Halal Food Market
• Al Islami Foods
• QL Foods
• Saffron Road Food
• Dagang Halal
• Janan Meat
• Kawan Foods
• Cargill
• Prima Agri-Products
• Nestle
• BRF
• Al-Falah Halal Foods
• Tahira Food
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