The Halal Food Market report stands as a strategic asset, offering a culmination of advanced market research and analysis. Employing cutting-edge tools and techniques, this report meticulously categorizes the market based on companies, geographical regions, types, components, applications, and end-use industries. Within its competitive analysis section, it highlights key market players through comprehensive company profiles, detailed market share analyses, and an exploration of the diverse strategies propelling their success in the market. Additionally, this report adeptly identifies and dissects emerging trends, pivotal driving forces, as well as challenges and opportunities within the market landscape.
A profound analytical estimation within the Halal Food Market report forecasts the primary challenges ahead in terms of sales, export/import dynamics, and revenue projections for organizations in the upcoming years. Supported by an exemplary research methodology, the report emphasizes both market share analysis and key trend analysis. In its assessment of competition, it delves into various strategies adopted by major market players, including new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and more, elucidating how these initiatives bolster their presence within the market.
By offering innovative insights, new skills, and inventive programs and tools, this halal food market research report is poised to contribute significantly to augmenting sales and fostering growth within the market.
Data Bridge Market Research analyses that the halal food market is expected to reach USD 5,912.58 billion by 2030, which is USD 2,371.00 billion in 2022, registering a CAGR of 12.10% during the forecast period of 2023 to 2030.
Definition
Halal food are those food products that meet Islamic standards. According to Islamic laws, halal food is free from ingredients that are processed, manufactured, or stored in clean enough vessels. Halal food is more ethical, safer to eat, less prone to meat contamination, and increases metabolism because it is free of poisons, pork, alcohol or intoxicants, and unhygienic content.
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Key Growth Drivers:
- Growing Muslim population all over the globe boosting the market growth
The increasing muslim population all over the globe is considerably contributing to the growth of the market. The growing demand for halal-certified food among Muslims is owing to the assurance of food hygiene and safety. According to the Pew Research Center report, a US-based nonpartisan American think tank, the growth of the Muslim population is expected to rise by about 2.19 billion by the year 2030 globally. Thus, the increasing Muslim population is anticipated to drive the halal food market growth rate.
- Increasing implementation of strict rules regarding halal foods
Many Islamic and non-islamic countries are implementing strict regulatory frameworks, which involve globally accepted standards, to attract new participants in the market. Recently, the Government of Indonesia introduced mandatory halal labeling and certification rules in 2019, owing to which consumers prefer halal food nowadays. With an increase in the demand for halal foods, manufactures have extended their product portfolio by introducing numerous value-added food products, including sandwiches, cookies, hot dogs, soups, candies, burgers, creams and pizzas. Thus, increasing implementation of strict rules regarding halal foods is likely to impel the market growth.
The report emphasizes the participation of key entities, notably:
- Nestlé S.A. (Switzerland)
- Cargill, Incorporated (U.S.)
- Unilever (U.K.)
- Al Islami (Dubai)
- American Foods Group, LLC (U.S.)
- QL Foods Sdn Bhd (Malaysia)
- PRIMA AGRO LIMITED (Malaysia)
- Saffron Road (U.S.)
- Allanasons Private Limited (India)
- Kawan Food Manufacturing Sdn Bhd (Malaysia)
Key Market Perspectives:
- Thorough examination of prevailing market tendencies
- Updates on the latest product advancements and innovations
- Halal Foodmarket's Compound Annual Growth Rate (CAGR) for both historic and forecasted years
- Strategies and activities of prominent players and brands in the field
- Insights into the industry landscape for emerging participants
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Key Market Segmentation
By Type (Halal Food, Halal Drinks and Halal Supplements), Distribution Channel (Hypermarkets/ Supermarkets, Convenience Stores, Online Channel and Others), Product Type (Meat, Poultry and Seafood, Fruits and Vegetables, Dairy Products, Cereals and Grains, Oil, Fats and Waxes, Confectionery and Others), Product Base (Native Starch, Modified Starch and Sweeteners)
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