[182 Pages Report] The Halal Food & Beverage Market size was estimated at USD 93.27 billion in 2023 and expected to reach USD 99.98 billion in 2024, at a CAGR 7.43% to reach USD 154.08 billion by 2030.
Halal food & beverages are normally consumed by practicing Muslims and abide by Islamic Sharia law. Halal food is any food or product prepared and handled according to Islamic Sharia law, has no trace of pork or alcohol, and does not mix haram products. Halal food is considered more ethical, safer to eat, and less prone to meat contamination as it is free of poisons, pork, alcohol, intoxicants, and unhygienic content. The surge in the Muslim population worldwide and the inclination of consumers toward hygienic and safe food have accelerated the sale of halal food products. Additionally, the rising interest among consumers in consuming organic and natural food & beverage products is increasing the demand for halal-certified food products. However, the fluctuating cost of raw materials and the complex regulatory framework for producing halal food & beverages may limit their production. Moreover, the introduction of nutritionally rich and value-added halal food & beverage products and rising trade activities are expected to increase the purchase and consumption of halal products globally.
Regional Insights
The Middle East and Africa and Asian Islamic countries, including Indonesia, Afghanistan, and Iran, have the highest demand for halal food & beverage products because of the larger Islamic population in the region altogether. Government regulations in Islamic countries are increasing the requirement for halal certification in most food & beverage products. The migration of people from Muslim-dominated nations to other regions is a part of the vital dynamics responsible for the significantly rising Muslim population in the Asia-Pacific region. The Muslim population in Canada and the U.S. is continuously growing, posing novel opportunities for America’s food & beverage foods markets. Governments of the Islamic, as well as the non-Islamic nations and the manufacturers of halal-certified food products, have been taking various initiatives in terms of marketing & educating consumers about these safe and hygienic food products. The majority of halal food products are manufactured in non-Muslim countries, such as Europe, America, Canada, Brazil, India, China, and Russia. Moreover, Islamic countries are collaborating with the major halal food & beverage processing countries to ensure the availability of products complying with their religious guidelines. For instance, in February 2023, the Philippines and Gulf Cooperation Council countries planned to expand the market presence for Philippine halal-certified food by exporting it to Abu Dhabi. Moreover, the introduction of value-added food & beverage products and a surge in trade activities are expected to increase the availability and consumption of halal food & beverage products by consumers worldwide.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Halal Food & Beverage Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Halal Food & Beverage Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Halal Food & Beverage Market, highlighting leading vendors and their innovative profiles. These include Al Islami Foods Corporation, Allanasons Pvt Ltd., American Foods Group, LLC, Archer Daniels Midland Company, Aurora Brazil, Banvit, Barry Callebaut AG, BRF S.A., Cargill, Incorporated, Crescent Foods, Isa Delice, Kawan Food Manufacturing Sdn Bhd, Midamar Corporation, Nestl? S.A., One World Halal, Pampanga’s Best, Inc., PrimaBaguz Sdn Bhd, QL Foods Sdn. Bhd., Saffron Road, Sariraya Co.,Ltd., Tahira Foods Ltd., and Unilever PLC.
Market Segmentation & Coverage
This research report categorizes the Halal Food & Beverage Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Grain Products
- Meat & Alternatives
- Milk & Milk Products
- Distribution Channel
- Convenience Stores
- Online Retail Stores
- Supermarkets/Hypermarkets
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Halal Food & Beverage Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Halal Food & Beverage Market?
- What are the technology trends and regulatory frameworks in the Halal Food & Beverage Market?
- What is the market share of the leading vendors in the Halal Food & Beverage Market?
- Which modes and strategic moves are suitable for entering the Halal Food & Beverage Market?
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