Halal Food Market 2023 | Worth US$ 4,177.3 Billion by 2028 | Growth Rate (CAGR) of 10.8% | IMARC Group

The global halal food industry size reached US$ 2,221.3 Billion in 2022 & expects to reach US$ 4,177.3 Billion by 2028, with growth (CAGR) 10.8% by 2023-2028.

SHERIDAN, WYOMING, UNITED STATES, February 6, 2023 /EINPresswire.com/ -- The latest report by IMARC Group, titled “Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global halal food market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global halal food market size reached US$ 2,221.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4,177.3 Billion by 2028, exhibiting a growth rate (CAGR) of 10.8% during 2023-2028.

Halal food includes food and beverage items that adhere to Islamic dietary guidelines and are strictly prepared according to the rules. Under these laws, blood, pork, alcohol, by-products of pork and animals that are dead before slaughtering and not killed in the name of Allah are considered impermissible for consumption ‘haram.’ Also, halal food products are stored in cleaned utensils per the prescribed guidelines. The demand for halal food is increasing due to the rising popularity of halal food among the non-Muslim population.

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Covid-19 Overview on Halal Food Market:

The rapid outbreak of coronavirus disease (COVID-19) and the consequent implementation of mandatory lockdown restrictions had a negative impact on the global halal food market. Due to the shutdown of shops and supermarkets on account of the stringent lockdown regulations to prevent the spread of coronavirus, the demand for overall halal food declined. Additionally, the disruption in the export and import of halal food and the reduction in the labor force significantly affected the consumption and sale capability. However, the market regained momentum with the gradual ease of restrictions on the retailers and consumers of halal food products.

Competitive Landscape:

By IMARC group the report has also analyzed the competitive landscape of the market with some of the top halal company being

Some of these key players include:

• QL Foods
• Al Islami Foods
• Dagang Halal
• Saffron Road Food
• Kawan Foods
• Janan Meat
• Prima Agri-Products
• Cargill
• BRF
• Nestle
• Tahira Food
• Al-Falah Halal Foods

Halal Food Market Trends:

The global market is majorly driven by the increasing Muslim population who follows Islamic Sariah norms as a part of their religious belief. Along with this, the evolution of halal food from an identification mark of religious observation to assurance of food hygiene, safety and reliability is providing a boost to the sale of halal food items. In addition to this, the growing awareness among Muslims regarding the necessity and need of consuming non-haram food under their religious sentiments is significantly supporting its demand on the global level.

Besides this, numerous key players are expanding their product portfolio by introducing several value-added halal food items, which is positively influencing the market. Moreover, rising government initiatives to support the production of halal foods by introducing mandatory labeling and certification rules are creating a positive market outlook.

Explore Full Report with TOC & List of Figures: https://www.imarcgroup.com/halal-food-market

Key Market Segmentation:

Breakup by Product:

• Meat, Poultry & Seafood
• Fruits & Vegetables
• Dairy Products
• Cereals & Grains
• Oil, Fats & Waxes
• Confectionery
• Others

Breakup by Distribution Channel:

• Traditional Retailers
• Supermarkets & Hypermarkets
• Online
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

TOC for the Halal Food Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Global Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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