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Halal Food and Beverages Market Size, Share & COVID-19 Impact Analysis, By Product Type (Meat, Poultry & Seafood, Dairy Products, Cereal & Grain-based Products, Non-Dairy Beverages, and Fruits, Vegetables & Nuts), Distribution Channel (Traditional Retailers, Supermarkets/Hypermarkets, Online Retail, and Others), and Regional Forecast, 2021-2028

Region : Global | Format: PDF | Report ID: FBI106186

 

KEY MARKET INSIGHTS

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The global halal food and beverages market size was USD 1.96 trillion in 2020. There has been a significant impact of the COVID-19 pandemic on the global halal food & beverages market, ultimately disrupting the global supply chain. According to our analysis, the global market exhibited a decrease of 16% in 2020 compared to the average year-on-year growth during 2017-2019. The market is projected to grow from USD 2.09 trillion in 2021 to USD 3.27 trillion by 2028, exhibiting a CAGR of 6.56% during the forecast period (2021-2028). The rise in CAGR during the forecast period is because of the growth in demand for halal products across Islamic countries and Muslim population.


The halal food and beverages industry is witnessing prominent growth across the globe. The increasing Muslim population worldwide and the growing consumer concerns regarding food safety, quality, and animal cruelty have significantly increased the demand for halal food & beverages. The continuously expanding distribution network and the evaluation in consumer buying patterns are expected further to drive the global market in the upcoming years.


Disturbance in Supply Chain to Hamper Market Growth during COVID-19 Pandemic


The disruption of the halal food and beverage industry’s supply chains due to the swift spread of COVID-19 have affected the market growth. The leading manufacturers in Islamic and non-Islamic countries experienced a reduction in labor, which significantly affected the production capability. Furthermore, the slowdown in demand for retail products such as pre-cooked and ready-to-eat meat products negatively influenced the industry.


However, the rising concerns related to immunity increased the demand for health-improving products to maintain immunity. Consumers’ inclination towards healthy, nutritious, and safer products is rising. The positive evolution of consumers’ preferences towards safe and quality halal products is expected to boost this industry in the upcoming years.


LATEST TRENDS


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Emerging Trend of Halal-Certified Products to Drive Market Growth


Over the past few years, halal has become a worldwide market phenomenon for Muslims due to religious obligations. The growing interest in halal products is not just attributed to the assurance that the product is permitted for Muslims, but globally, it also indicates quality assurance and lifestyle choice. The halal products industry has expanded beyond the food sector over the years and now comprises pharmaceuticals, cosmetics, bath products and medical devices, along with service sector components such as logistics, marketing, packaging, branding, and financing.


With the increase in the Muslim population, the halal industry has expanded further into lifestyle offerings, including halal travel, hospitality services, and fashion. This development is attributed to the change in the mindset of Muslim consumers and ethical consumer trends worldwide. Due to the rising concerns regarding global issues such as sustainability, environmental protection, and animal welfare, the halal industry is projected to witness robust growth in the next 7 years.


Driving Factors


Rising Islamic Population & Shifting Consumer Awareness to Drive Market Growth


Islam is the fastest-growing religion globally, which positively affects the global demand for halal products. The recent data by the Government of Saudi Arabia states that the global Muslim population represents 28.26% of the world population. The growing awareness among Muslims regarding the need and necessity to consume only halal food primarily drives the growth of the global market. The rising disposable income levels of the Muslim population are further expected to boost the market growth in the foreseeable years.


Consumer awareness in the halal food sector has considerable impact on the development of the market over the past few years. There is an emerging trend of consuming such products for ethical and safety reasons among non-Muslim consumers. Lifestyle changes across the world have been significantly reflected in the evolution of shopping, cooking, and dietary habits. The growing awareness of the relationship between diet and health and the increasing demand for processed convenience foods has given rise to new subsectors of the food market that fuel the halal food and beverages market growth.


Expansion of Halal-Certified Product Portfolio to Further Fuel Market Growth


Until recently, halal foods were mainly sold by butchers. The market has evolved in the past few years due to the rapid expansion of retail distribution channels to provide such products in supermarkets. The manufacturers and retail stores have begun to offer a wide range of halal food products across various developing and developed markets. These products are not just confined to meat and poultry as it also includes other food items such as confectionery, canned and frozen food, dairy products, bakery products, organic food, non-dairy and non-alcoholic beverages; and herbal products.


The evolving lifestyle and increase in the purchasing powers of the Muslim population have increased the demand for prepared convenience foods and packaged foods that adhere to Islamic dietary laws. Another growing sector of halal food products is comprised of substitutes for products that traditionally contain non-halal (haram) ingredients such as pork gelatine or alcohol. These products include yogurt, biscuits, and chocolates and are now being modified to be marketed as halal.


Restraining Factors


Complex Regulatory Framework of Halal Food & Beverages to Hamper Market Growth


The global landscape of regulation of the halal food and beverages market is constantly evolving. The regulatory frameworks in this sector are complex, and they vary across regions and countries. Muslim-majority countries have a different approach from Muslim-minority countries. The challenge in developing a regulatory framework for the market to bring them to the same levels of regulatory compliance as those of the mainstream food sectors acts as a key restraint for the market growth.


The lack of a stable international framework to assure halal integrity complicates business for manufacturers by posing a challenge to access export and domestic markets. The lack of clear and transparent regulatory frameworks and differences of opinion and interpretations represent difficulties for consumers while buying packaged halal food & beverages.


SEGMENTATION


By Product Type Analysis


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Meat, Poultry, and Seafood Segment Holds the Largest Market Share due to their Highest Consumption


The value for meat, poultry, and seafood products is the largest in the market due to its worldwide reach and popularity. Emerging economies, such as China, India, and Indonesia, are expected to contribute profoundly to the growth of the halal meat and poultry industry due to rising incomes and healthy eating trends among consumers. The growing demand for packaged processed meat products as they are considered hygienic and high-quality products is expected to fuel the segmental growth in the foreseeable years.


The key manufacturers are investing in better technologies of meat preservation to fulfill the growing consumer demand for more fresh and healthy processed meat products. With the growing awareness regarding food quality and safety, the demand for halal certification increases for other products such as dairy, cereal-based products, and fruits & vegetables.


By Distribution Channel Analysis


Traditional Retailers Hold the Major Market Share and Supermarket/Hypermarkets are Fastest Growing


The consumer knowledge that the animal is slaughtered in a halal way primarily drives the market. Traditional retailers hold the major market share as butcher shops chiefly sell halal meat, poultry, and seafood products in most Islamic countries and non-Islamic countries. However, the rapid expansion of distribution channels has significantly fuelled the segmental growth over the past few years.


The supermarket channels are evolving rapidly to invest in newer technologies and offer consumers a wide variety of products. These retail channels are investing in complying with all regulatory requirements to improve the safety and quality of products they offer. The increasing digitalization across the world would also support the evolution of online retail channels.


REGIONAL INSIGHTS


Asia Pacific Halal Food and Beverages Market Size, 2020 (USD Trillion)

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APAC is Leading and Fastest Growing Region


Asia Pacific market valued at USD 1.20 trillion in 2020. Pakistan, India, Indonesia and Bangladesh have the highest Islamic population, which makes the Asia Pacific region prominent for the growth of the halal foods industry. The halal market in the region is lucrative because of the increasing discretionary income levels and rising animal welfare concerns among consumers. The growing awareness regarding food safety and quality also increases the demand for halal products among non-Muslim consumers. Furthermore, increasing income levels fuel the demand for innovative halal products, posing novel opportunities for food & beverage manufacturers, which is expected to drive the market growth in the APAC region.


The Middle East and Africa have a high potential for this market due to the higher Islamic population with continuously increasing discretionary incomes. Tourism in countries such as Saudi Arabia, Dubai and Egypt is rapidly evolving, presenting tremendous opportunities for these products in the market. The expansion of distribution channels across UAE and Saudi Arabia is further expected to drive the market growth in the region during the forecasted period.


Europe is witnessing substantial growth in the market. Increasing discretionary incomes and a rapidly rising Islamic population is projected to drive the halal food products segment growth. The rising concerns regarding food quality and safety among consumers in the region are expected to further boost the market in the region. The growing perception that halal food and beverages are ethically prepared, healthier, and safer is anticipated to fuel market growth in the upcoming years.


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The Muslim population in Canada and the U.S. is continuously growing, posing novel opportunities for the North America foods market. The market exhibits strong potential for growth, as the demand for halal products is increasing among Muslim consumers in the region due to the growing concerns regarding food safety and quality. The major players in the region have recognized the opportunity and have become significant manufacturers of halal food & beverage products. Companies such as Cargill, ConAgra, Tyson, and Oscar Mayer have started halal product lines to capitalize on the growing demand in the region.


KEY INDUSTRY PLAYERS


Al Islami Foods is Investing in Product Launches to Strengthen Company Portfolio


Al Islami Foods is the leading halal foods company actively investing in new product developments in the halal-certified food segment to strengthen its product portfolio and fortify the business in the global market. For instance, in January 2021, Al Islami Foods launched its first plant-based product, a burger made with sunflower protein – in response to the growing demand for healthier vegan alternatives in the UAE.


The global market exhibits a highly fragmented structure, with various multinational companies holding a significant share in the market. The major key players such as Cargill, Inc., Nestle S.A., and Unilever are focusing on new product developments, mergers and acquisitions, to consolidate the market. The arrival of small players in the market significantly contributes to the competition within the market, which positively impacts the growth rate of this market.


LIST OF KEY COMPANIES PROFILED:



  • Cargill, Inc. (Minnesota, U.S.)

  • Nestle S.A. (Vevey, Switzerland)

  • American Foods Group, LLC (Wisconsin, U.S.)

  • Unilever (London, U.K.)

  • BRF S.A. (State of São Paulo, Brazil)

  • Saffron Road (Connecticut, U.S.)

  • Tahira Foods Ltd. (London, U.K.)

  • Al Islami Foods (Dubai, UAE)

  • QL Foods Sdn Bhd (Perak, Malaysia)

  • DagangHalal Group (Kuala Lumpur, Malaysia)


KEY INDUSTRY DEVELOPMENTS:



  • October 2019 – U.K.-based brand Marks & Spencer has launched its own halal prepared meals in the retail market.

  • October 2018- JBS-owned Seara has announced to become the first Brazilian company to introduce 100% antibiotic-free chicken that meets halal requirements and Islamic rules in the Middle East region.


REPORT COVERAGE 


An Infographic Representation of Halal Food and Beverages Market

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The halal food and beverages market research report provides a detailed analysis of the market and focuses on key aspects such as leading companies, product types, and leading distribution channels of the product. Besides this, the report offers insights into the market trends, competitive landscape, and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the market's growth over recent years.


Report Scope & Segmentation:














































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Estimated Year



 2021



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD trillion)



By Product Type




  • Meat, Poultry & Seafood

  • Dairy Products

  • Cereal & Grain-based Products

  • Non-dairy Beverages

  • Fruits, Vegetables & Nuts



By Distribution Channel




  • Traditional Retailers

  • Supermarkets/Hypermarkets

  • Online Retail

  • Others



By Geography




  • North America (By Product Type, By Distribution Channel & By Country)

    • U.S. (By Distribution Channel)

    • Canada (By Distribution Channel)

    • Mexico (By Distribution Channel)



  • Europe (By Product Type, By Distribution Channel & By Country)

    • U.K. (By Distribution Channel)

    • Germany (By Distribution Channel)

    • France (By Distribution Channel)

    • Russia (By Distribution Channel)

    • Rest of Europe (By Distribution Channel)



  • Asia Pacific (By Product Type, By Distribution Channel & By Country)

    • China (By Distribution Channel)

    • India (By Distribution Channel)

    • Indonesia (By Distribution Channel)

    • Malaysia (By Distribution Channel)

    • Australia (By Distribution Channel)

    • Rest of Asia- Pacific (By Distribution Channel)



  • South America (By Product Type, By Distribution Channel & By Country)

    • Brazil (By Distribution Channel)

    • Argentina (By Distribution Channel)

    • Rest of South America (By Distribution Channel)



  • Middle East & Africa (By Product Type, By Distribution Channel & By Country)

    • UAE (By Distribution Channel)

    • Saudi Arabia (By Distribution Channel)

    • Rest of the Middle East & Africa (By Distribution Channel)





Frequently Asked Questions

Fortune Business Insights says that the value of the market was at USD 1.96 trillion in 2020 and is projected to reach USD 3.27 trillion by 2028.

In 2020, the Asia Pacific market value stood at USD 1.20 trillion.

Growing at a CAGR of 6.56%, the market will exhibit steady growth in the forecast period (2021-2028).

Meat, poultry, and seafood segment is expected to be the leading segment based on the product type in the global market during the forecast period.

The rising Muslim population and the expansion of assorted halal food product types are key factors for the growth of the market.

Cagill, Inc., Nestle S.A., and Unilever are the top players in the global market.

APAC is expected to hold the highest market share in 2020.

Rising concerns regarding food safety and quality and increasing Muslim population are major factors driving halal food & and beverages adoption.

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