Halal Food Market size to increase by USD 427.68 billion between 2022 to 2027 - Technavio

NEW YORK, Oct. 26, 2023 /PRNewswire/ -- The halal food market size is expected to grow by USD 427.68 billion from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 4.52% during the forecast period. Increasing consumer expenditure on halal food is notably driving the halal food market. However, factors such as increasing threats from fake halal food, and food scams may impede market growth. The market is segmented by Product (Halal MPS, Halal BCC, Halal FVN, Halal beverages, and Others), Distribution Channel (Offline and Online), and Geography (APAC, Middle East and Africa, Europe, South America, and North America). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format 

Key Segment Analysis
By product, the halal MPS segment is significant during the forecast period. This segment primarily includes halal foods such as beef, lamb meat, goat meat, chicken, Turkey, and fish. This can be further classified as fresh halal meat, poultry, and seafood; minimally processed halal meat, poultry, and seafood; and heavily processed halal meat, poultry, and seafood. Furthermore, minimally processed halal meat, poultry, and seafood products are free of artificial ingredients or added color which means the product was processed in a manner that does not alter the characteristics of the product. To know additional highlights and key points on various market segments and their impact in coming years, View the PDF Sample Report.

Geographical Market Analysis 

By geography, APAC will contribute 51% to the growth of the global market during the forecast period. The Philippines, Indonesia, Pakistan, Bangladesh, Malaysia, and Singapore are among the major markets for halal food in the APAC region. Furthermore, the increasing consumer expenditure on halal food is a major factor driving the regional halal food market. Additionally, key vendors launched dedicated halal food production facilities in APAC.

Company Insights 
The halal food market is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market's competitive landscape and offers information on several market companies, including:
Al Islami Foods, BRF SA, CJ CheilJedang Corp., Daesang Corp., Flying Trade Group Plc, Johnsonville LLC, Kawan Food Berhad, Midamar Corp., Nema Food Inc., Nestle SA, Prairie Halal Foods, QL Foods Sdn Bhd, Raj Foods Ltd., Ramly Food Processing, Tahira Foods Ltd., Tesco Plc, The American Halal Co. Inc., Unilever PLC, Cargill Inc., Glanbia Plc

• View a PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The Europe frozen food market is estimated to grow at a CAGR of 6.8% between 2022 and 2027. The size of the market is forecast to increase by USD 48.81 billion.

The air-dried food market size is estimated to grow at a CAGR of 7.75% between 2022 and 2027. The market size is forecast to increase by USD 47.25 billion.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Distribution Channel

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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