Global Halal Foods and Beverages Market Size To Exceed USD 1179.40 Billion By 2033 | CAGR Of 3.56%
Category: Food & BeveragesGlobal Halal Foods and Beverages Market Size To Exceed USD 1179.40 Billion By 2033 | CAGR Of 3.56%
According to a research report published by Spherical Insights & Consulting, the Global Halal Foods and Beverages Market is Expected to Grow from USD 831.65 Billion in 2023 to USD 1179.40 Billion by 2033, at a CAGR of 3.56% during the forecast period 2023-2033.
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Browse key industry insights spread across 210 pages with 110 Market data tables and figures & charts from the report on the "Global Halal Foods and Beverages Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Meat, Poultry & Seafood, Dairy Products, Cereal & Grain-based Products, Non-Dairy Beverages, and Fruits, Vegetables & Nuts), By Distribution Channel (Online, Supermarkets, Convenience Stores, Specialty Stores), By End User (Residential, Commercial, Institutional) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/halal-foods-and-beverages-market
Halal foods and beverages refer to the worldwide industry manufacturing and trading food and beverage products according to Islamic dietary laws also termed halal regulations. It has been interpreted in the Islamic way as "permitted" or "allowed" and describes certain guidelines related to obtaining, preparing, and consuming foods and drinks that are certified halal. Halal beverages do not contain banned ingredients, such as yeast or animal products, insects, or meat extract, such as beef extract, in fluids containing vitamins. Halal cuisine contains meats including beef, chicken, lamb, and fish; milk and yogurt-type dairy items; fruits and vegetables; cereals like wheat & rice; eggs; legumes; and nuts. Moreover, increasing knowledge among Muslim and non-Muslim consumers regarding halal products is driving the growth of the market. Numerous non-Muslim consumers prefer halal products, linking them with superior quality, ethical origin, and healthy choices. The increasing trend for culinary innovation as new halal food items launch across a broad range of categories, such as snacks, beverages, and ready-to-eat meals. It is drawing more consumers beyond conventional ones. However, halal certification can be a time-consuming and expensive undertaking for food producers. These costs involve auditing, inspections, and halal-compliant operations, which can deter small and medium-sized enterprises from participating in the market. This cost factor can restrict market access, especially for small producers.
The meat, poultry & seafood segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period.
Based on the product type, the halal foods and beverages market is divided into meat, poultry & seafood, dairy products, cereal & grain-based products, non-dairy beverages, and fruits, vegetables & nuts. Among these, the meat, poultry & seafood segment dominated the market in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to meat and poultry being at the core of the halal diet, and Islamic dietary guidelines put a major focus on how animals are slaughtered and processed. The meat, poultry, and seafood industries are supported by well-established halal supply chains, certification organizations, and international distribution, and thus halal meat products are easily available across various regions.
The supermarket's segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period.
Based on the distribution channel, the halal foods and beverages market is divided into online, supermarkets, convenience stores, and specialty stores. Among these, the supermarkets segment accounted for the majority share in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to supermarkets bringing a great variety of halal products—from meat and poultry to packaged foods, snacks, dairy, and beverages in one place for a one-stop shop for halal consumers. Many supermarkets, particularly in areas densely populated with Muslims, have therefore created a separate section or aisle for halal to make it easier for them to locate halal options.
The residential segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the end user, the halal foods and beverages market is divided into residential, commercial, and institutional. Among these, the residential segment accounted for a significant share in 2023 and is anticipated to grow at a remarkable CAGR during the forecast period. The growth is driven by the fact that most consumption of halal food is through Muslim homes since halal dietary principles are integral to their cuisine. Food and beverages purchased primarily for home consumption, such as meat, dairy, snacks, and other packaged foods, form a normal part of daily life. So, the residential segment that is the large one in terms of consistent demand and volume.
Asia Pacific holds the majority share of the global halal foods and beverages market during the forecast period.
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Asia Pacific holds the majority share of the global halal foods and beverages market during the forecast period. Countries with the biggest Muslim populations in the world, such as Indonesia, Pakistan, India, Bangladesh, and Malaysia, can be found in the Asia-Pacific region. The vast number of Muslims in these countries provides a contentious demand for halal food products. This has resulted in a rapidly growing demand for halal food products that include fresh meats, packaged food, dairy, snacks, and beverages in general.
Europe is estimated to grow at the fastest pace in the global halal foods and beverages market during the forecast period. Massive waves of immigration have contributed to the explosion of the Muslim population across Europe, especially from Muslim-majority countries in the Middle East, North Africa, and South Asia. The large and ever-growing Muslim communities of the major European nations, such as France, Germany, the UK, and the Netherlands, create a nearly insatiable demand for halal products. Ethically sourced and cleaner production processes of halal food attract the attention of health-conscious and ethically inclined consumers in Europe and thus further market growth.
Major vendors in the global halal foods and beverages market are Nestlé S.A, Cargill, Incorporated, Unilever, American Halal Company, Inc., Al-Falah Halal Foods, Prima Agri-Products, One World Foods Inc., Midamar Corporation, QL Foods, Rosen's Diversified Inc., Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Key Market Development
- In February 2024, Industronics Bhd, which is an electronics company, ventured into the halal food and beverage and halal convenience store business in Hong Kong. It took over an inactive Hong Kong company from Datuk Chu Boon Tiong and renamed it Halal Group Ltd (HGL) for this new business.
- In February 2024, CJ Foods introduced its first halal Bibigo Mandu products. Its vision is to offer the true Korean Mandu taste, which is the market leader in South Korea, the United States, and Vietnam, to the Malaysian people.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the halal foods and beverages market based on the below-mentioned segments:
Global Halal Foods and Beverages Market, By Product Type
- Meat, Poultry & Seafood
- Dairy Products
- Cereal & Grain-based Products
- Non-Dairy Beverages
- Fruits, Vegetables & Nuts
Global Halal Foods and Beverages Market, By Distribution Channel
- Online
- Supermarkets
- Convenience Stores
- Specialty Stores
Global Halal Foods and Beverages Market, By End User
- Residential
- Commercial
- Institutional
Global Halal Foods and Beverages Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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