[192 Pages Report] The Halal Food & Beverage Market size was estimated at USD 93.27 billion in 2023 and expected to reach USD 99.98 billion in 2024, at a CAGR 7.43% to reach USD 154.08 billion by 2030.
Halal food & beverages are normally consumed by practicing Muslims and abide by Islamic Sharia law. Halal food is any food or product prepared and handled according to Islamic Sharia law, has no trace of pork or alcohol, and does not mix haram products. Halal food is considered more ethical, safer to eat, and less prone to meat contamination as it is free of poisons, pork, alcohol, intoxicants, and unhygienic content. The surge in the Muslim population worldwide and the inclination of consumers toward hygienic and safe food have accelerated the sale of halal food products. Additionally, the rising interest among consumers in consuming organic and natural food & beverage products is increasing the demand for halal-certified food products. However, the fluctuating cost of raw materials and the complex regulatory framework for producing halal food & beverages may limit their production. Moreover, the introduction of nutritionally rich and value-added halal food & beverage products and rising trade activities are expected to increase the purchase and consumption of halal products globally.
The Middle East and Africa and Asian Islamic countries, including Indonesia, Afghanistan, and Iran, have the highest demand for halal food & beverage products because of the larger Islamic population in the region altogether. Government regulations in Islamic countries are increasing the requirement for halal certification in most food & beverage products. The migration of people from Muslim-dominated nations to other regions is a part of the vital dynamics responsible for the significantly rising Muslim population in the Asia-Pacific region. The Muslim population in Canada and the U.S. is continuously growing, posing novel opportunities for America's food & beverage foods markets. Governments of the Islamic, as well as the non-Islamic nations and the manufacturers of halal-certified food products, have been taking various initiatives in terms of marketing & educating consumers about these safe and hygienic food products. The majority of halal food products are manufactured in non-Muslim countries, such as Europe, America, Canada, Brazil, India, China, and Russia. Moreover, Islamic countries are collaborating with the major halal food & beverage processing countries to ensure the availability of products complying with their religious guidelines. For instance, in February 2023, the Philippines and Gulf Cooperation Council countries planned to expand the market presence for Philippine halal-certified food by exporting it to Abu Dhabi. Moreover, the introduction of value-added food & beverage products and a surge in trade activities are expected to increase the availability and consumption of halal food & beverage products by consumers worldwide.
The market dynamics represent an ever-changing landscape of the Halal Food & Beverage Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
- Market Drivers
- Rising muslim expatriate population and growing demand for halal certified food products
- Growing concerns regarding safety and hygiene of food products
- Increasing availability of the halal food & beverage products on eCommerce platforms
- Market Restraints
- Volatility of raw material cost required to produce halal foods & beverages
- Market Opportunities
- Introduction of value-added halal food & beverage products
- Rise in trade activities of halal food & beverage products worldwide
- Market Challenges
- Complex regulatory framework for halal food & beverages
The market disruption analysis delves into the core elements associated with market-influencing changes, including breakthrough technological advancements that introduce novel features, integration capabilities, regulatory shifts that could drive or restrain market growth, and the emergence of innovative market players challenging traditional paradigms. This analysis facilitates a competitive advantage by preparing players in the Halal Food & Beverage Market to pre-emptively adapt to these market-influencing changes, enhances risk management by early identification of threats, informs calculated investment decisions, and drives innovation toward areas with the highest demand in the Halal Food & Beverage Market.
The porter's five forces analysis offers a simple and powerful tool for understanding, identifying, and analyzing the position, situation, and power of the businesses in the Halal Food & Beverage Market. This model is helpful for companies to understand the strength of their current competitive position and the position they are considering repositioning into. With a clear understanding of where power lies, businesses can take advantage of a situation of strength, improve weaknesses, and avoid taking wrong steps. The tool identifies whether new products, services, or companies have the potential to be profitable. In addition, it can be very informative when used to understand the balance of power in exceptional use cases.
The value chain of the Halal Food & Beverage Market encompasses all intermediate value addition activities, including raw materials used, product inception, and final delivery, aiding in identifying competitive advantages and improvement areas. Critical path analysis of the <> market identifies task sequences crucial for timely project completion, aiding resource allocation and bottleneck identification. Value chain and critical path analysis methods optimize efficiency, improve quality, enhance competitiveness, and increase profitability. Value chain analysis targets production inefficiencies, and critical path analysis ensures project timeliness. These analyses facilitate businesses in making informed decisions, responding to market demands swiftly, and achieving sustainable growth by optimizing operations and maximizing resource utilization.
The pricing analysis comprehensively evaluates how a product or service is priced within the Halal Food & Beverage Market. This evaluation encompasses various factors that impact the price of a product, including production costs, competition, demand, customer value perception, and changing margins. An essential aspect of this analysis is understanding price elasticity, which measures how sensitive the market for a product is to its price change. It provides insight into competitive pricing strategies, enabling businesses to position their products advantageously in the Halal Food & Beverage Market.
The technology analysis involves evaluating the current and emerging technologies relevant to a specific industry or market. This analysis includes breakthrough trends across the value chain that directly define the future course of long-term profitability and overall advancement in the Halal Food & Beverage Market.
The patent analysis involves evaluating patent filing trends, assessing patent ownership, analyzing the legal status and compliance, and collecting competitive intelligence from patents within the Halal Food & Beverage Market and its parent industry. Analyzing the ownership of patents, assessing their legal status, and interpreting the patents to gather insights into competitors' technology strategies assist businesses in strategizing and optimizing product positioning and investment decisions.
The trade analysis of the Halal Food & Beverage Market explores the complex interplay of import and export activities, emphasizing the critical role played by key trading nations. This analysis identifies geographical discrepancies in trade flows, offering a deep insight into regional disparities to identify geographic areas suitable for market expansion. A detailed analysis of the regulatory landscape focuses on tariffs, taxes, and customs procedures that significantly determine international trade flows. This analysis is crucial for understanding the overarching legal framework that businesses must navigate.
The regulatory framework analysis for the Halal Food & Beverage Market is essential for ensuring legal compliance, managing risks, shaping business strategies, fostering innovation, protecting consumers, accessing markets, maintaining reputation, and managing stakeholder relations. Regulatory frameworks shape business strategies and expansion initiatives, guiding informed decision-making processes. Furthermore, this analysis uncovers avenues for innovation within existing regulations or by advocating for regulatory changes to foster innovation.
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Halal Food & Beverage Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Halal Food & Beverage Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Philippines eyes expansion of halal food footprint in Gulf countries
Food and beverage options are an important part of any culture, but perhaps none more so than among Muslims. Increasing consumer awareness about health benefits offered by certain ingredients of halal foods and the rising Muslim population across the globe is driving the growth and popularity of the market. The industry is particularly vibrant in the Middle East where places like Dubai have become a hub for certified halal products. The presence of numerous giants in this sector such as Nestle, Unilever, Mars Incorporated, Global Food Industries LLC and others also points to its increasing scale and potential. Despite growing competition in this space, this lucrative market seems poised to show remarkable growth in years to come. [Published On: 2023-02-16]
ABCC signs agreement with ApexBrasil to increase Halal Food and Beverage Exports to Arab Nations
ABCC has been a leading provider of certified Halal Food and Beverage products in the UAE for many years, and just recently signed an agreement with ApexBrasil in order to further boost exports to Arab nations. This agreement is attributed to the mutual trust that both organizations have developed over decades of successful partnering, allowing them to take ambitious steps forward into new arenas together. With this agreement, ABCC can now tap into increased demand for Halal products around the World, paving the way for more prosperous trade partnership in the future. This news is sure to be welcomed by the F&B industry both locally and internationally! [Published On: 2022-10-27]
Saudi PIF launches new firm to localize halal production industry
With the increased global interest in ethical sourcing and ingredients, the market for Halal certified products is expected to continue expanding. Many major food and beverage companies throughout North America, Europe, Asia-Pacific and the Middle East are producing high-quality halal products that offer an attractive opportunity for investors. This growth presents a significant business opportunity as there is increasing demand from Muslims worldwide who need halal certified products that fit their dietary requirements. With thoughtful strategic planning, businesses will be able to not only gain a competitive edge but also meet the increasing needs of this important consumer segment. [Published On: 2022-10-24]
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Halal Food & Beverage Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
The report delves into recent significant developments in the Halal Food & Beverage Market, highlighting leading vendors and their innovative profiles. These include QL Foods Sdn. Bhd., Nestlé S.A., Aurora Brazil, Allanasons Pvt Ltd., Archer Daniels Midland Company, Sariraya Co.,Ltd., Saffron Road, Cargill, Incorporated, American Foods Group, LLC, Al Islami Foods Corporation, Isa Delice, Midamar Corporation, Crescent Foods, BRF S.A., PrimaBaguz Sdn Bhd, Barry Callebaut AG, Unilever PLC, Tahira Foods Ltd., Kawan Food Manufacturing Sdn Bhd, Banvit, Pampanga's Best, Inc., and One World Halal.
This research report categorizes the Halal Food & Beverage Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Grain Products
- Meat & Alternatives
- Milk & Milk Products
- Distribution Channel
- Convenience Stores
- Online Retail Stores
- Supermarkets/Hypermarkets
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: This section thoroughly overviews the current market landscape, incorporating detailed data from key industry players.
- Market Development: The report examines potential growth prospects in emerging markets and assesses expansion opportunities in mature segments.
- Market Diversification: This includes detailed information on recent product launches, untapped geographic regions, recent industry developments, and strategic investments.
- Competitive Assessment & Intelligence: An in-depth analysis of the competitive landscape is conducted, covering market share, strategic approaches, product range, certifications, regulatory approvals, patent analysis, technology developments, and advancements in the manufacturing capabilities of leading market players.
- Product Development & Innovation: This section offers insights into upcoming technologies, research and development efforts, and notable advancements in product innovation.
- What is the current market size and projected growth?
- Which products, segments, applications, and regions offer promising investment opportunities?
- What are the prevailing technology trends and regulatory frameworks?
- What is the market share and positioning of the leading vendors?
- What revenue sources and strategic opportunities do vendors in the market consider when deciding to enter or exit?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Halal Food & Beverage Market, by Type
- Halal Food & Beverage Market, by Distribution Channel
- Americas Halal Food & Beverage Market
- Asia-Pacific Halal Food & Beverage Market
- Europe, Middle East & Africa Halal Food & Beverage Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 20]
- List of Tables [Total: 196]
- List of Companies Mentioned [Total: 22]
The halal certification ensures that the product complies with the Islamic dietary laws right from sourcing to the processing of raw materials, packaging, and storage. Since the demand for halal products is rapidly growing worldwide, governments and halal certification organizations have set rigorous standards to ensure the halal authenticity of food products.
The growth of halal trade activities can be attributed to the rising Muslim population, the growing awareness about halal foods among non-Muslims, and the increasing demand for halal products in Muslim-dominant countries. In 2020, the largest market for halal foods and beverages was Asia Pacific, with a market share of 61.3%. Major producers of halal food and beverage products include Malaysia, Indonesia, Turkey, and the UAE. Halal trade shows and exhibitions such as Malaysia International Halal Showcase (MIHAS) and Gulfood, held annually in Dubai, provide a platform for halal food and beverage businesses to showcase their products and connect with potential buyers.
The halal industry has created significant job opportunities in the halal certification sector, halal food processing, and packaging. Moreover, governments worldwide are promoting the halal industry as a key area of focus and investing in infrastructure development, research, and certification to raise the industry's profile.
Additionally, halal food and beverage industry has an expanding market in non-Muslim countries as well, particularly in Western societies. Societies are becoming increasingly multicultural, and the halal industry's growth is evident with halal meat sections in supermarkets and fast-food chains serving halal-certified burgers and chicken sandwiches. The growth potential of the halal industry has attracted the attention of global businesses, and leading brands have recently launched their halal-certified products to capture the growing market share.
The halal food and beverage industry plays a vital role in the global trade of halal products, driving the global economy's growth. The rising demand for halal products, increasing awareness among non-Muslims, and the booming Muslim population worldwide will continue to drive the industry's growth in the coming years. The halal certification process ensures the products comply with Islamic dietary laws, driving halal trade activities worldwide. The industry's expansion also presents new opportunities for business expansion and offers consumers a diverse and unique range of halal-certified products to choose from. Ultimately, the halal industry's primary purpose is to provide consumers of all faiths with safe, wholesome, and ethically produced products, and this alone will continue to secure its place in the global economy.
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