PUBLISHER: The Business Research Company | PRODUCT CODE: 1643995
PUBLISHER: The Business Research Company | PRODUCT CODE: 1643995
Halal food refers to food that are permissible for Muslims to consume, as prescribed by Islamic law (Sharia). The foundation for halal food is based on the Quran and Hadith (sayings of the Prophet Muhammad). There are specific guidelines for what foods are allowed and how they must be prepared. Halal food also mandates that certain meat products must come from animals that are slaughtered according to a prescribed method, which includes invoking the name of God (Allah) at the time of slaughter.
The halal food market consists of sales, by entities (organizations, sole traders or partnerships), of food products that comply with Islamic dietary laws. This is utilized in daily meals, religious observances and special occasions, serving as a cornerstone of dietary practices in Muslim communities.
The global halal food market was valued at $1,040,983.76 million in 2018 which grew up till 2023 at a compound annual growth rate (CAGR) of more than 7.00%.
Favorable Government Initiatives
favorable government initiatives supported the growth of the halal food market during the historic period. Government policies supporting halal food production and certification facilitated market growth during the historic period. Financial incentives, subsidies and infrastructure development in Muslim-majority countries bolstered halal food businesses. Trade agreements and regulatory frameworks streamlined exports, while promotional campaigns highlighting the health and ethical benefits of halal food increased consumer awareness. These combined efforts contributed to a significant expansion of the halal food market. For example, in December 2023, Saudi Arabia and Indonesia signed a memorandum of understanding (MoU) to enhance Halal product assurance cooperation and mutually recognize each other's Halal certificates. The agreement, between Indonesia's Badan Penyelenggara Jaminan Produk Halal (BPJPH) and the Saudi Food and Drug Authority, also covers collaboration in training, research and development and laboratory analysis of Halal products. This partnership aims to strengthen Halal product standards and facilitate smoother trade between the two nations, further promoting the global Halal industry. Therefore, favorable government initiatives contributed to the growth of the halal food market.
Cutting-Edge Digital Platforms Facilitating Access To Halal-Certified Food Options Worldwide
Major companies in the halal food market are leveraging delivery apps to ensure precise food categorization, enhanced compliance with halal standards, and consistent quality for consumers. A delivery app is a digital platform that connects customers with businesses to order and receive goods or services conveniently at their doorstep. It streamlines logistics, offering real-time tracking, payment options, and efficient delivery solutions. For instance, in October 2024, Totalee Halal, a UK-based company specializing in halal-certified products, launches an innovative halal food delivery app. The platform aims to connect users with a wide range of halal restaurants and certified food providers. By incorporating advanced technology, the app ensures convenience, transparency, and adherence to halal dietary laws. The initiative caters to the growing demand for accessible halal food options globally. It also highlights a shift toward digital solutions in the halal food industry.
The global halal food market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 1.31% of the total market in 2023.
Halal Food Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global halal food market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for halal food? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The halal food market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider halal food market; and compares it with other markets.
Global Market Size And Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.