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The Halal Food Market Will Grow at Highest Pace

The halal food market involves a wide range of products ranging from fresh
Halal Food Market

The halal food market involves a wide range of products ranging from fresh and processed meat and poultry to beverages, frozen and dried food. Halal food refers to food products prepared in accordance with Islamic Sharia law using ingredients that are permissible under Islamic dietary guidelines. The growing Muslim population across the world seeking certified halal products is a major factor fueling the demand for halal foods. Halal foods are gaining rapid acceptance due to the rising health-conscious population looking for healthier options.

The Global Halal Food Market is estimated to be valued at US$ 1.43 billion in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the halal food market are Cargill Inc., Al Islami Foods, QL Resources Sdn Bhd, Haoyue Group, Kawan Food Berhad, BRF S.A., Saffron Road Food. Cargill Inc. is one of the leading providers of halal foods and ingredients globally.

The rising Muslim population across the world and their growing disposable income is a key factor fueling the demand for Halal Food Market Size certified food products. The global Muslim population is expected to grow at an annual rate of 1.5% reaching 8 billion by 2030 thereby significantly boosting the demand.

Advancements in food preservation and processing technologies have enabled key players to offer a wide range of halal food products. Freeze drying and aseptic packaging are some of the techniques used to extend the shelf life of perishable halal foods. Innovation in food processing is also aiding the development of new food categories like ready-to-eat meals helping busy consumers save time.

Market Trends
Clean Label Movement: There is a growing trend of consumers preferring halal foods with simple ingredients lists and no artificial preservatives or colors. This is prompting companies to focus on clean label foods.

Plant-Based Alternatives
: Owing to health and ethical concerns, the demand for plant-based meat and dairy substitutes is growing sharply. Key players are developing plant-based meat analogues to cater to this emerging segment of halal-conscious flexitarians.

Market Opportunities
Untapped Developing Markets
: Countries in Asia, Africa, and Latin America with large Muslim populations offer significant opportunities for halal food companies to expand their operations.

E-commerce Platforms
: Online grocery shopping is gaining popularity globally. Leveraging e-commerce platforms can help halal food brands increase accessibility and better serve consumers worldwide.

Impact of COVID-19 on Halal Food Market Growth

The COVID-19 pandemic has significantly impacted the growth of the global halal food market. During the initial lockdown phases in early 2020, supply chains and production were disrupted. Movement restrictions led to closure of restaurants and cafes, impacting the food service industry drastically. This negatively affected the demand for halal food products in food service outlets. However, as people started cooking more at home during lockdowns, demand grew for packaged and frozen halal food products in retail channels.

Geographical Regions with Major Halal Food Market Value
The Middle East region accounts for the largest share of the global halal food market value, estimated at over 35% in 2024. Countries like Saudi Arabia, United Arab Emirates, Qatar have a very high Muslim population driving strong demand for halal food products. Southeast Asia is another key geographical region concentrated with halal food market value. Indonesia, Malaysia, Singapore and other ASEAN countries have emerged as major halal hubs in recent years. Large Muslim minorities and policy support for halal industry have promoted market growth. Europe is also observed as an emerging hotspot, led by countries like United Kingdom, France and Germany. Halal food exports from Southeast Asia and Middle East are increasing into European nations.

Fastest Growing Region for Halal Food Market
Africa is projected to be the fastest growing region for the global halal food market during the forecast period from 2024 to 2030. The African continent has over 350 million Muslims and the population is growing rapidly. Many African nations like Nigeria, South Africa, Kenya have started recognizing the economic potential of halal industry by developing certifying authorities and trade support initiatives. Rising incomes, urbanization and global exposure are enhancing consumer demand for branded and certified halal products. Investments from Middle Eastern countries are also stimulating market expansion across African countries. With increasing trade opportunities and evolving lifestyles, the African halal food market is poised for significant gains.

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