Comprehensive Study On The Global Halal Food Market: Trends And Market Opportunities 2024-2033

The Business Research Company’s Halal Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033

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The halal food market has expanded rapidly in recent years, projected to rise from $1,496.23 billion in 2023 to $1,727.74 billion in 2024, reflecting a compound annual growth rate (CAGR) of 15.5%. This growth during the historical period can be attributed to several factors, including the increasing Muslim population, globalization and cultural diversity, heightened awareness of halal certification, trends in halal tourism, and innovation and diversity in halal food products.

What Are The Forecasts For The Global Halal Food Market Size And The Predicted Annual Growth Rates?
The halal food market is anticipated to experience significant growth in the coming years, projected to reach $2,928.57 billion by 2028 at a compound annual growth rate (CAGR) of 14.1%. This growth during the forecast period is driven by a focus on clean label and natural ingredients, innovations in plant-based and meat alternatives, the rise of halal cosmetics and personal care products, increasing disposable income in Muslim markets, and health and wellness trends related to halal products.

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What Are The Major Factors Driving The Growth Of The Halal Food Market?
Healthy eating habits are expected to drive the growth of the halal food market in the future. Good dieting patterns consist of a balanced and diverse intake of nutritious foods tailored to individual health requirements, promoting overall well-being. By including halal foods in these dietary patterns, consumers can adhere to Islamic dietary laws while ensuring a well-rounded and nutritious diet.

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Which Major Market Players Are Propelling the Halal Food Market?

Key players in the halal food market include 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.

What Trends Are Shaping the Future of the Halal Food Market Size?

Leading companies in the halal food market are concentrating on creating convenient food options, such as certified halal ready meals, to meet the increasing demand for chilled halal products and to enhance their competitive advantage. Certified halal ready meals are pre-prepared food items that comply with Islamic dietary laws and possess official certification verifying their adherence to halal standards.

What Is the Segmentation of the Global Halal Food Market?

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

Regional Insights: Asia-Pacific's Dominance in the Halal Food Market

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

What Is The Definition Of The Halal Food Market?
Halal food refers to items that comply with Islamic dietary standards. It is free from ingredients that are prohibited for Muslims under Islamic law and is processed, manufactured, or stored in vessels that meet cleanliness requirements according to these laws. Halal food is considered safer to consume, more ethical, and less susceptible to meat contamination. Additionally, it promotes better metabolism, as it excludes pork, alcohol or intoxicants, harmful substances, and unhygienic materials.
The Halal Food Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Halal Food Market Report: Trends, Opportunities, Strategies, and More
The Halal Food Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into halal food market size, halal food market drivers and trends, halal food competitors' revenues, and halal food market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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