Halal Food Global Market Sees Growth Rate Of 15% Through 2022
4 Oct, 2022
The global halal food market size is expected to grow from $1134.14 billion in 2021 to $1290.35 billion in 2022 at a compound annual growth rate (CAGR) of 13.8%. The global halal foods market size is expected to grow to $2228.63 billion in 2026 at a CAGR of 14.6%.
What is the Global Halal Food Market?
The halal food market consists of sales of halal food by entities (organizations, sole traders, and partnerships) 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 this food is free of pork, alcohol/intoxicants, poisons, and unhygienic content.
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What drives the Global Halal Food Market?
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.
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https://www.thebusinessresearchcompany.com/report/halal-food-global-market-reportGlobal Halal Food Market Segments
The global halal food market is segmented:
By Product: Meat, Poultry, and Seafood, Fruits and Vegetables, Dairy Products, Cereals and Grains, Oil, Fats and Waxes, Confectionary
By Distribution Channel: Hypermarkets, Supermarkets, Online Stores, Specialty Stores
By Application: Restaurant, Hotel, Home, Others
By Geography: The regions covered in the halal food market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Halal Food Global Market Report 2022provides market size and growth forecasts for the global halal food market, global halal food market share, halal food market segments and geographies, halal food market competitive landscape including leading competitors’ revenues, profiles and market shares. The halal food market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Halal Food Industry Playersinclude Al Islami Foods, Al-Falah Frozen Foods, BRF, DagangHalal Sdn. Bhd., Midamar Halal, Prima Agri-Products, QL Foods Sdn. Bhd., Saffron Road Food, Tahira Foods Ltd., The American Halal Co. Inc., American Foods Group LLC, Beijing Shunxin Agriculture, and Jingyitai Halal Food. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.