Global Halal Food Market: Nourishing Growth

Halal Food Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

Halal Food Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company's Halal Food Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The halal food market size is expected to grow to $2,583.18 billion in 2027 at a CAGR of 14.5%.”
— The Business Research Company

LANDON, GREATER LANDON, UK, November 24, 2023 / -- The global halal food market has experienced substantial growth, expanding from $1,300.75 billion in 2022 to $1,501.5 billion in 2023, reflecting a robust Compound Annual Growth Rate (CAGR) of 15.4%. Forecasts suggest continued momentum, with the market size expected to reach $2,583.18 billion by 2027, propelled by a compelling CAGR of 14.5%.

Nurturing Growth: The Influence of Rising Muslim Population

The burgeoning Muslim population worldwide plays a pivotal role in the remarkable growth of the halal food market. The demand for halal-certified food among Muslims is escalating due to the assurance it provides regarding food safety and hygiene. According to Pew Research Center, the global Muslim population is projected to increase by approximately 2.19 billion by 2030. This substantial growth in the Muslim population is anticipated to be a driving force behind the expansion of the halal food market.

Explore comprehensive insights into the global halal food market with a detailed sample report:

Industry Leaders: Shaping the Halal Landscape
Major players in the halal food market, including Al Islami Foods, Al-Falah Frozen Foods, BRF, and others, play a crucial role in shaping the industry. These key players contribute to the market's dynamism and growth.

Technological Advancements: Paving the Way for Transparency

Technological advancements are emerging as key trends in the halal market, enhancing food safety and ensuring the quality standards of halal products. Technologies such as blockchain and the Internet of Things (IoT) are actively employed to maintain transparency in the supply chain and analyze food products. An example is the collaboration between Fluree PBC, a US-based open-source semantic graph database company, and Sinisana Technologies, a Malaysia-based Web3 Blockchain Traceability, aiming to provide end-to-end halal food product sourcing, provenance, and safety. This collaboration utilizes Fluree technology in its blockchain product to guarantee transparency and integrity across the entire lifecycle of halal food items.

Regional Dynamics: Asia-Pacific Leading the Way

The Asia-Pacific region took the lead in the halal food market in 2022 and is expected to maintain its position as the largest region. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation: A Diverse Palette

The global halal food market is segmented based on:

1) By Product: Meat, Poultry, And Seafood, Fruits And Vegetables, Dairy Products, Cereals And Grains, Oil, Fats And Waxes, Confectionary
2) By Distribution Channel: Hypermarkets, Supermarkets, Online Stores, Specialty Stores
3) By Application: Restaurant, Hotel, Home, Other Applications

Access the complete report for an in-depth analysis of the global halal food market:

Halal Food Global Market Report 2023 from TBRC covers the following information:

1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Halal Food Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on halal food market size, halal food market drivers and trends, halal food market major players, competitors' revenues, market positioning, and market growth across geographies. The halal food market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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