Strategic Insight into the Global Halal Food Market, 2017

Halal Food Market Introduction:

There has been tremendous demand for halal food products in the recent past years due to diverse tastes and interests of Muslim population residing across the globe. However, with this comes the religious beliefs of Muslims and requirement to certify these products as per Islamic laws. Halal is an Arabic term meaning “lawful “ and halal food products must adhere the standards and any food or beverages products meeting Muslim standards are considered as halal. Halal certified food products include, halal foie gras, spring rolls, chicken nuggets, ravioli, lasagna, pizza, and baby food. A common example of non halal food product is pork. With continuous rise in the global population demand for convenience food is also increasing at a rapid pace. Rising living standards, improved lifestyle and increasing disposable incomes across the globe are the key factors which are accelerating the global halal food market in the near future. The global halal food market is expected to witness considerable growth in the near future attributable to growing demand for food supplements as a result of increasing number of population with malnutrition.

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Halal Food Market Regional Outlook:

On the basis of region the global Halal Food market is segmented into, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and Middle East and Africa.  North America and Western Europe are expected to account for significant revenue shares in the global halal food market over the forecast period mainly attributed to changing lifestyle, increasing demand for value added food products and increasing purchasing power of consumers who live in North America region such as the US, and in Europe region. The global halal food market across these regions is also expected to rise due to increasing per capita expenditure on food products and increasing number of Muslim population. The demand for halal food products is high across the Islamic countries such as, Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Oman, and Qatar due to religious norms which is expected to result in significant revenue generation across the Middle East and African region.

Halal Food Market Drivers and Trends

The global halal food market growth is mainly attributable to rapidly increasing Muslim population who demand for a global halal certification of food products. The global halal food market is expected to witness significant growth across Russian and China market.  The growth of halal food across these countries is mainly attributed to rapidly increasing meat products consuming population. To cite an example, in 2011, in Russia, 65,000 tons of halal meat was produced. Increasing efforts by organizations to raise awareness with respect to the market growth of halal industry through events and trade fairs is also expected to contribute towards market growth of halal foods in the near future. Establishment of halal food standard in china will further propel the halal food market across the Asia pacific region over the forecast period. The global halal food market is impacted due to low purchasing power of Muslim population, especially those belonging to countries including, Sub-Saharan countries and Asia countries such as Indonesia, India, and Pakistan. The market for halal food is also impacted due to unavailability of any specific halal standards and the lack of unified regulation across the MEA.

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Halal Food Market Key Players:

Some of the key players offering Halal Food include; Al-Falah Halal Foods, Al Islami Foods, QL Foods, Nestlé, Saffron Road Food, Beijing Shunxin Agriculture, Prima Agri-Products, Jingyitai Halal Food, Prima Agri-Products and others.

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Ganesh Rajput

As one of the lead news writers on CMFE News, Ganesh’s specialization lies in the science and technology domains. His passion for the latest developments in cloud technology, connected devices, nanotechnology, and virtual reality, among others, shines through in the most recent industry coverage he provides. Ganesh’s take on the impact of digital technologies across the science, technology, and business domains gives his writing a fresh and modern outlook.

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