The value of the global halal food market exceeded 2.3 trillion in 2020 (Reuters)
The need for halal food is expanding in the world with the presence of about two billion Muslims spread across various countries and continents. In reality, the demand for halal food is no longer limited to Muslims only, but rather extends to others. Over the past few years, halal food items have become popular among consumers. Muslims and non-Muslims alike, as it has evolved from being an identification mark for religious observation to ensuring food safety, hygiene and reliability.
The value of the global halal food market reached $2,339.1 billion (2.3 trillion) in 2023, and the total revenues of the halal food market are expected to grow at a compound annual growth rate of 10.5% from 2024 to 2030, reaching approximately $5,284.96 billion (5.3 trillion). ) By 2030, according to the MMR market research platform.
The market is witnessing strong growth driven by the increasing Muslim population, increasing consumer awareness, rapid multiculturalism driven by globalization, increasing health and safety concerns, and the spread of e-commerce and digital marketing.
Halal means food permitted according to Islamic law, and meat, poultry and seafood are the core sectors of the halal food market. Halal meat, in particular, is of paramount importance to Muslim consumers, including beef, lamb, chicken and seafood.
The "Halal industry" includes medicines, cosmetics, health products, toiletries, and medical devices (Getty)
Dairy products, such as milk, cheese, yogurt and butter, form an essential part of the halal food market, and strict hygiene and sourcing standards are applied to ensure the safety of these products, making them a trusted choice for consumers concerned about Sharia compliance and food safety.
The market is expanding every day
Halal is not limited to food and nutrition. The “Halal industry” has expanded beyond the food sector, to include medicines, cosmetics, health products, toiletries, and medical devices, in addition to components of the service sector, such as logistics, marketing, and print and electronic media. , packaging, branding and financing. The halal food market stands out as one of the most profitable and influential markets in global food business today, according to the “Research Gate” platform.
The global halal market is expanding rapidly in a number of countries that have not historically supported it. The estimated value of the halal food market in the United States, for example, reached $59.4 billion in 2022, and is expected to reach about $88.9 billion by 2026, according to what Allied Market Research reported.
Traditional retailers have an important role in distributing halal food products (Al Jazeera)
Department stores have the largest share of the market
According to a detailed report entitled “Halal Food Market Report,” the IMARC Group published the most important content on its platform, which addressed the status of the global halal food market.
The report focused on the most important global distribution channels, including major stores (supermarkets and hypermarkets), traditional and online retailers, and others. The report confirmed that, based on distribution channels, supermarkets and hypermarkets captured the largest share of the market, especially in Urban and suburban areas.
These supermarkets offer a wide range of halal products, from fresh produce and meat to packaged goods and snacks, and provide convenience and a one-stop shopping experience for consumers looking for a wide range of halal options. Many supermarket chains also offer their own halal-certified products.
Traditional retailers play an important role in distributing halal food products, especially in areas that focus on local markets and small businesses. These retailers include local butchers, neighborhood grocery stores and specialty halal markets, and often have a deep understanding of their communities, offering a wide range of products.
Online distribution channels have gained significant traction in the halal food market, driven by the relative ease of access through e-commerce and the ability to cater to a global consumer base. Online retailers offer a wide range of halal products, including specialty items that may not otherwise be available. They are easily available in local stores.
This channel allows consumers to browse and purchase halal food from the comfort of their homes and have it delivered to their doorstep. Online retailers often provide detailed product descriptions, ingredient lists, and certification information, which is particularly attractive to consumers concerned about the authenticity of halal products.
Stores offer a wide range of halal products, such as fresh produce, meat, packaged goods and snacks (Al Jazeera)
Asia is the strongest center and has great growth in America and Europe
The report provided a comprehensive analysis of all major regional markets, which include North America (US and Canada), Europe (Germany, France, UK, Italy, Spain, etc.); Asia and the Pacific (China, Japan, India, South Korea, Australia, Indonesia, etc.), Latin America (Brazil, Mexico, etc.); The Middle East and Africa. According to the report, the Asia Pacific region accounted for the largest market share.
The Asia-Pacific region is a strong center in the global halal food market, as it is home to the largest Muslim population in the world, which increases the huge demand for halal products. Countries such as Indonesia, Malaysia, Pakistan and Bangladesh have halal food industries and well-established regulatory bodies. In addition, the region's diverse cuisines and cultural practices create a vibrant market for a wide range of halal foods, from street snacks to fine dining, and the Asia-Pacific region is a major consumer. It is also a major producer of halal food products and exports to global markets.
North America has seen a growing demand for halal food, primarily due to its multicultural society, and Muslim communities in the United States and Canada have fueled this demand, resulting in the availability of halal products in major supermarkets and restaurants.
The sector is also seeing a rise in the number of non-Muslim consumers choosing halal products due to their quality and safety, and this trend has prompted many North American food producers to seek halal certification to meet the needs of this expanding market.
The European market for halal food has witnessed significant growth, driven by both the Muslim population and non-Muslim consumers looking for ethically produced, high-quality food items.
Countries such as France, the United Kingdom and Germany have large Muslim communities, which contributes to the demand for halal products. The European Union has also made efforts to standardize halal certification processes, facilitate trade and ensure consumer confidence.
Latin America has a thriving market for halal food, with countries such as Brazil and Argentina emerging as major players in the production and export of halal meat. The region's halal food market meets the needs of the Muslim minority and international markets, including the Middle East and Asia. The Brazilian halal meat industry has gained, in particular, In particular, its commitment to strict halal standards is recognized, making it a major exporter to global markets.
Latin America is replete with a thriving market for halal food, the most important of which is Brazil and then Argentina (social media)
The most prominent companies in the halal food industry
According to the Halal Times platform, the top 12 halal food manufacturing companies in 2023 include the following companies:
QL Foods Sdn Bhd
Al Islami Foods Co
DagangHalal Group
Saffron Road
Kawan Foods Berhad
Janan Meat
Prima Agri-Products
Nestle
Allana Sons (Allanasons Pvt)
BRF
Midamar
Cargil
These companies offer a wide range of halal-certified products to consumers around the world, and adhere to strict standards in the production of their foods. Their commitment to producing high-quality, halal-certified products has helped increase the acceptance and demand for halal foods around the world.
Source: Al Jazeera