According to the latest report by IMARC Group, titled "Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026", the global halal food market reached a value of US$ 1.9 Trillion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.3% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Halal foods are food products that are strictly prepared to comply with the Islamic dietary law to be permissible for consumption by Muslims. According to the law, these food items should not comprise prohibited ingredients, including pork, blood, alcohol and other intoxicants. Additionally, the consumption of meat of carnivorous animals is also not permitted. Moreover, halal food products must be prepared and stored in separate utensils that have been cleansed according to the Islamic dietary guidelines. Consequently, halal foods are considered to be clean, fresh, toxin-free, and a healthier food option among the masses, which is contributing to their sales across the globe.
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Global Halal Food Market Trends:
The global market is majorly driven by the increasing awareness regarding the benefits of consuming halal food among the masses. Halal meat products are required to undergo two health checks, unlike the single inspection performed on conventional meats, thereby leading to the widespread preference of these foods among consumers. These foods are widely consumed by both Muslim and non-Muslim consumers due to their assurance of food safety, hygiene and reliability. Moreover, numerous Islamic and non-Islamic countries are implementing strict regulatory frameworks that generally consist of globally accepted halal standards. The governments of multiple countries are also introducing mandatory halal labeling and certification rules, which is creating a positive outlook for the market. The market is further driven by the availability of halal meat at popular fast-food joints across numerous Islamic countries. Some of the other factors contributing to the market growth include a rapidly growing Muslim population, inflating disposable incomes of the masses, the easy product availability through online and offline retail portals and promotional activities by key manufacturers.
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Key Market Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- QL Foods
- Al Islami Foods
- Dagang Halal
- Saffron Road Food
- Kawan Foods
- Janan Meat
- Prima Agri-Products
- Cargill
- BRF
- Nestle
- Tahira Food
- Al-Falah Halal Foods
Breakup by Product:
- Meat, Poultry & Seafood
- Fruits & Vegetables
- Dairy Products
- Cereals & Grains
- Oil, Fats & Waxes
- Confectionery
- Others
Breakup by Distribution Channel:
- Traditional Retailers
- Supermarkets & Hypermarkets
- Online
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter's Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.