Halal Food Market Size Projected to Soar by 2030 with Escalating Demand from Expanding Global Muslim Population

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Mar 01, 2024, 22:45 ET

DUBLIN, March 1, 2024 /PRNewswire/ -- The "Halal Food Market, Size, Global Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The global halal food market is garnering notable attention with its accelerated growth trajectory, poised to reach a valuation of approximately US$ 4,569.69 Billion by 2030. This comprehensive market analysis reveals that this surge is fueled by a confluence of robust factors, including increasing consumer health consciousness and a lifestyle shift towards a halal diet, as well as the rapid expansion of the Muslim population worldwide.

Anticipated Growth at a CAGR of 9.33% from 2024 to 2030

The report underscores an anticipated steady climb in the global halal food market, expecting it to witness an impressive CAGR of 9.33% during the forecast period from 2024 to 2030. This market expansion underscores the growing consumer base, not restricted to Islamic nations but globally, showcasing a unifying demand for products that align with halal standards of purity and permissibility.

Major industry players are proactively broadening their portfolios to cater to the diverse needs of the market by including a plethora of halal-certified products such as pasta, vegetables, dairy derivatives, and more. Such initiatives are not only enhancing product visibility but are also indicative of the burgeoning market space for halal foods.

Stringent Regulations Propel Market Growth

The imposition of comprehensive global standards and regulations pertaining to halal certification has further buoyed market growth. Measures like the Saudi Arabia Food and Drug Authority's extended requirement for halal certification encapsulate the trend of strict regulatory environments that are drawing in new market entrants.

Market Diversification by Product and Distribution

Key segments within the global halal food market encapsulate a range of products, with meat products claiming a substantial market share, attributed to an uptick in demand for hygienic and microorganism-free meat. In terms of distribution channels, hypermarkets and supermarkets are pivotal, benefitting from economies of scale and the provision of a wide range of products at competitive prices.

India's Growing Muslim Population: A Fertile Ground for Market Expansion

With an emphasis on regional analysis, the market in India presents immense potential, propelled by the migration trends and ascending growth of the Muslim demographic. The escalating purchasing power within this community fortifies the market base for halal foods in the foreseeable future.

Key Market Players Leading Industry Innovation

This report also sheds light on leading market participants driving forward industry standards and innovation, each delineated by their broad strategies, developmental milestones, and financial performance. From expanding product ranges to partnerships, these companies are at the helm of steering the global halal food market forward.

This diverse categorization ensures that every market segment is scrutinized, offering an exhaustive perspective of the industry. The detailed analysis includes a comprehensive breakdown of the market by various product types, distribution channels, and specific country insights, making it an indispensable tool for stakeholders and businesses looking to navigate the halal food landscape effectively.

Company Analysis: Overview, Recent Developments, Revenue Analysis

Nestle SA
JBS SA
BRF SA
Kawan Food Berhad
Cargill Inc.
Carrefour SA
Crescent Foods Inc.
VegaVites
American Halal Company Inc.
American Foods Group LLC,
Al Islami Foods

Product - Global Halal Food Market breakup in 9 viewpoints:

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

Distribution Channel - Global Halal Food Market breakup in 5 viewpoints:

Hypermarkets & Supermarkets
Online Stores
Convenience Stores
Specialty Stores
Others

Countries - Global Halal Food Market breakup in 25 viewpoints:

North America
United States
Canada
Europe
Russia
France
Germany
Italy
United Kingdom
Turkey
Asia
Pakistan
Indonesia
India
Bangladesh
China
Malaysia
Kazakhstan
Middle East & Africa
Saudi Arabia
United Arab Emirates
Qatar
Iraq
Iran
Egypt
Algeria
Morocco
Nigeria

For more information about this report visit https://www.researchandmarkets.com/r/ck89p6

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