Halal Foods Market Size Worth USD 5,683.53 Billion By 2032 | CAGR: 9.4%

The global Halal Foods market size is expected to reach USD 5,683.53 billion by 2032, according to a new study by Polaris Market Research. The report “Halal Foods Market Share, Size, Trends, Industry Analysis Report, By Product Type (Raw Meat, Processed & Packed Food, Bakery & Confectionery, Others); By Distribution Channel; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing Islamic population around the world is the primary reason for the significant demand the halal food market is expected to see during the forecast period. In addition, another factor propelling the market growth is the increasing number of vegans who follow only vegan diets worldwide. It is anticipated that halal food and drink products will be produced, packaged, stored, and served by Islamic law. These products are regarded as fresher, healthier, and far more organic.

Governments and regulatory agencies, particularly in nations with a majority of Muslims, have launched several initiatives to support and oversee the halal food sector in collaboration with their counterparts. This covers the procedures for laws, licenses, and labeling specifications. The global halal food trade is expanding, creating new growth opportunities, which is reinforced by the expansion of the travel and tourism sector. Due to Muslim tourists' desire for halal cuisine, non-Islamic countries have opened halal eateries, cafes, and other establishments.

The absence of globally recognized definitions of Halal and the variations in national certification procedures are impeding market expansion. Along with this, supply chain logistical issues like guaranteeing the separation of non-Halal and Halal goods raise operating expenses for companies. The restricted availability of products bearing the Halal certification in specific markets limits consumer options and hinders the growth of the industry.

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There are many regional and local players in the highly fragmented halal foods market. To stay competitive, businesses have been using a range of expansion tactics, including partnerships and the introduction of new products. For example, in October 2022, to strengthen the partnership further, Ghanim International Corporation (Brunei) and ZES Trading (Bangladesh) signed an MOU. Simultaneously, Ghanim International Corporation introduced Brunei Halal food products in Bangladesh.

Halal Foods Market Report Highlights

• The raw meat segment is predicted to have a larger revenue share due to the high demand for Halal-certified raw meat among consumers who stick to the Islamic dietary laws, which emphasize a premium on the consumption of meat prepared in accordance with Halal principles.
• Due to a number of factors that accommodate consumer convenience and preferences in the Halal food market, supermarkets and hypermarkets have become the primary distribution channels for Halal foods. With a wide variety of Halal products available under one roof, these retail formats give customers a convenient shopping experience.
• The Asia Pacific region became the market leader for halal foods in 2023, owing to its profitable growth surged by a sizeable Muslim population that makes up a sizable consumer base that follows halal dietary practices. The foundation of the halal foods market has been significantly shaped by nations with sizable Muslim populations, such as Bangladesh, Pakistan, Malaysia, Indonesia, and Pakistan.
• The global key market players include Al Islami Foods, Al-Falah Halal Foods Ltd., American Halal Company, Inc., BRF S.A., Cargill, Incorporated, DagangHalal Group, Kawan Food Berhad, Midamar Corporation, Nema Food Company, Nestlé S.A, One World Foods Inc., Prima Agri-Products, QL Foods, Rosen's Diversified Inc., Saffron Road, Unilever, etc.

Polaris Market Research has segmented the Halal Foods market report based on product type, distribution channel, and region:

Halal Foods, Product Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Raw Meat
• Processed & Packed Food
• Bakery & Confectionery
• Others

Halal Foods, Distribution Channel Outlook (Revenue - USD Billion, 2019 - 2032)

• Supermarkets & Hypermarkets
• Convenience Stores
• Online Stores
• Specialty Stores
• Others

Halal Foods, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Halal Foods Market Report Scope