Halal Food Global Market Projected to Experience a Growth Rate of 14.1% CAGR, Reaching over $2928.57 Billion By 2028 | Unilever Group, Crescent Foods, Alpina Foods, Nema Food Inc., Salwa Foods

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Overview and Scope
Halal food refers to foods that meet Islamic standards of food. Halal food is free from ingredients that Muslims are restricted to eat according to law or food that is processed manufactured or stored in vessels that are clean enough according to Islamic laws. Halal food is safer to eat, more ethical, less prone to meat contamination, and improves metabolism as it is free of pork, alcohol or intoxicants, poisons, and unhygienic content.

Sizing and Forecast
The halal food market size has grown rapidly in recent years. It will grow from $1496.23 billion in 2023 to $1727.74 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to increasing Muslim population, globalization and cultural diversity, rising awareness of halal certification, tourism and halal tourism trends, halal food innovation and product diversity.

The halal food market size is expected to see rapid growth in the next few years. It will grow to $2928.57 billion in 2028 at a compound annual growth rate (CAGR) of 14.1%. The growth in the forecast period can be attributed to focus on clean label and natural ingredients, innovations in plant-based and meat alternatives, halal cosmetics and personal care products, rising disposable income in Muslim markets, health and wellness trends in halal products. Major trends in the forecast period include increased collaboration between halal certification bodies, blockchain technology for halal verification, digital platforms for halal certification, globalization of halal products, halal convenience foods.

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Segmentation & Regional Insights
The halal food market covered in this report is segmented –
1) By Product: Meat, Poultry, And Seafood, Fruits And Vegetables, Dairy Products, Cereals And Grains, Oil, Fats And Waxes, Confectionary
2) By Distribution Channel: Hypermarkets, Supermarkets, Online Stores, Specialty Stores
3) By Application: Restaurant, Hotel, Home, Other Applications

Asia-Pacific was the largest region in the halal food market in 2023. The regions covered in the halal food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The rising Muslim population across the world is significantly contributing to the growth of the halal food market. The Muslim population is a community of Islamic people who practice Islam. The increasing demand for halal-certified food among Muslims is due to the assurance of food safety and hygiene. According to Pew Research Center, a US-based nonpartisan American think tank, the growth of the Muslim population in the world is expected to increase by around 2.19 billion by the year 2030. Therefore, the rising Muslim population is expected to drive the growth of the halal food market.

Key Industry Players
Major companies operating in the halal food market report are Cargill Incorporated, Nestle Société Anonyme, Unilever Group, Wellmune a Kerry Group PLC company, Brazilian Food Corporation (BRF), BRF S.A., SUKHIS GOURMET INDIAN FOOD, Texas Halal Corporation, Beijing Shunxin Agriculture Co. Ltd., American Foods Group LLC, Kawan Food Berhad, Harris Ranch Beef Company, Noor Pharmaceuticals LLC, Crescent Foods, Alpina Foods, Al Islami Foods Corporation, Saffron Road Food Company, QL Foods Sdn. Bhd., Midamar Corporation, Tahira Foods Limited, Pampanga’s Best Inc., AL-FALAH FROZEN FOODS, Prima Quality Food Industries Sdn Bhd, Nema Food Inc., Salwa Foods, Tallgrass Beef Company, The American Halal Co. Incorporated, Dagang Halal Group, Jingyitai Halal Food Co. Ltd., Ayamas Food Corporation

The halal food market report table of contents includes:
1. Executive Summary