Bangladesh food

Global Halal Food Market to be Driven by Rising Muslim Population During the Forecast Period 2022-2027

Expert Market Research’s new report titled “Global Halal food market sizeShare, Price, Trends, Growth, Analysis, Report and Forecast 2022-2027′, gives an in-depth analysis of the global halal food market, assessing the market based on its segments such as products, distribution channels, usage final and major regions.

The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.

Halal Food Market Size, Share, Trends, Industry Report, Key Player, Major Segments and Forecasts

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Key highlights of the report include:

Market Snapshot 2017-2027

• Forecast CAGR (2022-2027): 17%

Report attribute Details
Historical period 2017-2021
Forecast period 2022-2027
base year 2020
Market size in 2020 $1.2 trillion
Revenue forecasts in 2026 $3 trillion
Growth rate CAGR 17%
Main actors Al Islami Foods, QL Foods Sdn Bhd, Nestlé SA, DagangHalal Sdn. Bhd.,
Cargill Inc. and Tahira Foods Ltd., among others.

The worldwide increase in the Muslim population is driving the demand for halal food. Rising sales of premium packaged halal food products including halal skewers and halal burgers are further driving the market growth. During the forecast period, the rising popularity of halal seafood products owing to the rising awareness about the benefits of omega-3 fatty acids is expected to boost the market growth.

In terms of region, Asia-Pacific accounts for a large share of the market owing to the large Muslim population in India, Pakistan, and Bangladesh, among others. Moreover, the growing demand for halal dairy products in these regions is expected to further contribute to the growth of the market in the coming years.

Halal Food Industry Definition and Major Segments

Halal food refers to a type of food that adheres to Islamic law. Halal food is only allowed to those who follow Islam. Food types excluded from Halal are known to be forbidden foods, i.e. they have not been prepared in accordance with Islamic laws. Some examples of halal food are halal meat, nuggets, and pizza, among others.

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On the basis of product, the market can be segmented into:

• Meat, poultry and seafood
• Fruits and vegetables
• Dairy products
• Cereals and Cereals
• Oil, fats and waxes
• Confectionery
• Others

The market can be broadly classified on the basis of distribution channel into:

• Traditional retailers
• Supermarkets and Hypermarkets
• On line
• Others

The main end uses of Halal food include:

• Housework
• Food Service

Regional markets for halal food include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Halal Food Market Trends

Major trends in the halal food market include robust development of specialty halal stores and increasing sales of
halal meat in supermarkets and other distribution channels. For example, in the UK, various supermarkets, including Marks and Spencer and Tesco, among others, sell Halal lamb.

During the forecast period, the booming e-commerce industry is expected to be another key market trend that is likely to drive halal food sales through online platforms. Further, the market is expected to be driven by increased restaurant business in Islamic countries such as Libya, Bahrain, and Iran, among others.

Main market players

Key Players of the Global Halal Food Market Report Include:

• Al Islami Foods
• QL Foods Sdn Bhd
• Nestlé SA
• Dagang Halal Sdn. Bhd.
• Cargill Inc.
• Tahira Foods Ltd.
• Others

The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.

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