The Global Halal Products Market was valued at USD Million in 2023 and is expected to reach USD Million by 2029, growing at a CAGR of % during 2023-2029.
Some of the players studied are Islami Foods (United Arab Emirates), Al-Faris International (United Arab Emirates), Almunajem Coldstore Company Ltd. (Saudi Arabia), Emirates Modern Poultry Co. (Al Rawdah) (United Arab Emirates), Saahtain Foods (United Arab Emirates), Nestlé Middle East (Egypt), Kawan Food Berhad (Malaysia), Global Food Industries (GFI) (United States), QL Foods Sdn Bhd (Malaysia), Dagang Halal Group (Malaysia), Saffron Road (United States), Janan Meat Limited (United Kingdom), Prima Agri-Products Sdn Bhd (Malaysia), Cargill, Inc. (United States), BRF S.A. (Brazil).
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Halal products are items that adhere to Islamic dietary laws and are considered permissible (halal) for Muslims to consume or use. These dietary laws are outlined in the Quran, the holy book of Islam, and are further elaborated upon in the Hadith (sayings and actions of the Prophet Muhammad). Halal products are important to Muslims, and they make choices based on their religious beliefs.
Here are some key aspects of halal products:
Food and Beverages: Halal food and beverages must not contain any haram (forbidden) ingredients or be prepared using haram methods. For example, pork and its by-products are strictly forbidden in Islam, so any food or drink containing pork is haram. Additionally, alcohol is haram, so any product containing alcohol is not considered halal.
Meat: Halal meat must come from an animal that has been slaughtered in accordance with Islamic law. This involves reciting a prayer (Bismillah) and invoking the name of Allah at the time of slaughter. The animal should be healthy, and its blood must be completely drained.
Market Trends:
Halal products have seen significant trends and growth in recent years, reflecting the increasing global demand for products that adhere to Islamic dietary and ethical guidelines. These trends have extended beyond just food and beverages to include various industries. Here are some notable trends in Halal products:
Expanding Food and Beverage Market: The Halal food and beverage market continues to grow, with an increasing number of companies seeking Halal certification for their products. This growth is driven by the rising Muslim population, as well as non-Muslim consumers who perceive Halal products as safer and more ethical.
Halal Tourism: The travel industry has seen a surge in Halal tourism, with destinations and accommodations catering to Muslim travelers. This includes Halal-friendly hotels, restaurants, and travel agencies offering services that respect Islamic principles, such as prayer facilities, Halal food, and gender-segregated amenities.
Market Drivers:
Halal products refer to items that are prepared and produced in accordance with Islamic dietary laws and principles. To ensure that products are Halal-compliant, there are several key drivers and considerations:
Religious Requirements: The primary driver for producing and consuming Halal products is adherence to Islamic dietary laws. This includes avoiding ingredients that are Haram (forbidden) in Islam, such as pork and alcohol, and following specific slaughtering methods for animals.
Consumer Demand: The growing Muslim population worldwide has increased the demand for Halal products. As more people seek to adhere to Islamic dietary guidelines, companies are motivated to produce and label their products as Halal.
Global Halal Products Market Competitive Analysis
Know your current market situation! Not just new products but ongoing products are also essential to analyse due to ever-changing market dynamics. The study allows marketers to understand consumer trends and segment analysis where they can face a rapid market share drop. Figure out who really the competition is in the marketplace, get to know market share analysis, market position, % Market Share, and segmented revenue.
Players Included in Research Coverage: Islami Foods (United Arab Emirates), Al-Faris International (United Arab Emirates), Almunajem Coldstore Company Ltd. (Saudi Arabia), Emirates Modern Poultry Co. (Al Rawdah) (United Arab Emirates), Saahtain Foods (United Arab Emirates), Nestlé Middle East (Egypt), Kawan Food Berhad (Malaysia), Global Food Industries (GFI) (United States), QL Foods Sdn Bhd (Malaysia), Dagang Halal Group (Malaysia), Saffron Road (United States), Janan Meat Limited (United Kingdom), Prima Agri-Products Sdn Bhd (Malaysia), Cargill, Inc. (United States), BRF S.A. (Brazil)
Additionally, Past Global Halal Products Market data breakdown, Market Entropy to understand development activity and Patent Analysis*, Competitors Swot Analysis, Product Specifications, and Peer Group Analysis including financial metrics are covered.
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Segmentation and Targeting
Essential demographic, geographic, psychographic, and behavioural information about business segments in the Halal Products market is targeted to aid in determining the features the company should encompass in order to fit into the business’s requirements. For the Consumer-based market – the study is also classified with Market Maker information in order to understand better who the clients are, their buying behaviour, and patterns.
Halal Products Product Types In-Depth: Primary Meats, Processed Food & Beverages, Pharmaceuticals, Cosmetics, Personal Care Products
Halal Products Major Applications/End users: Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Stores, Other
Halal Products Major Geographical First Level Segmentation:
• APAC (Japan, China, South Korea, Australia, India, and the Rest of APAC; the Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, The Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
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Research Objectives:
– Focuses on the key manufacturers, to define, pronounce and examine the value, sales volume, market share, market competition landscape, SWOT analysis, and development plans in the next few years.
– To share comprehensive information about the key factors influencing the growth of the market (opportunities, drivers, growth potential, industry-specific challenges and risks).
– To analyse the with respect to individual future prospects, growth trends and their involvement to the total market.
– To analyse reasonable developments such as agreements, expansions new product launches, and acquisitions in the market.
– To deliberately profile the key players and systematically examine their growth strategies.
FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)
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