Halal Food And Beverage Market: Grain Products Are Projected To Register The Fastest Growth
Halal Food And Beverage Industry Overview
The global halal food and beverage market size was valued at USD 774.93 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 3.6% from 2022 to 2030. The increasing Muslim population worldwide and growing concern regarding food safety, hygiene, and reliability will drive the market in the forecast period. According to an article published in Pew Research Centre, April 2019, there are 1.8 billion Muslims globally. With an increase in the demand, manufacturers have widened their product portfolio by introducing several value-added halal food items, including pasta, vegetable, juice, milk, yogurt, and cheese. Further, the production of halal-certified foods by key players in the market will increase product visibility among consumers.
The disruption of the food supply chain owing to the rapid spread of COVID-19 affected the food and beverage market including the halal food industry. Leading manufacturers worldwide experienced a reduction in labor and disruption in the import and export of halal food which significantly affected the consumption and sale capability. Also, the slowdown in demand for meat products due to safety and hygiene concerns during the pandemic negatively influenced the industry. According to an article published in Bloomberg, July 2021, In the U.S., sales of meat at grocery stores were down by more than 12% compared to the year before the pandemic. However, inclination towards nutritious and safe quality food is expected to boost the market in the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Halal Food And Beverage market
The rising interest among consumers in the consumption of vegan food & beverage along with product introduction by halal manufacturers for these conscious consumers’ is expected to bolster the market growth from the year 2022 to 2030. Key players in the market are launching vegan products due to changing consumer perceptions of animal slaughter and suffering. For instance, in January 2021, AI Islami Foods, and United Arab Emirates (UAE) based halal food giant, launched a plant-based burger. The product is made from a combination of sunflower protein sourced from an organic non-GMO farm, fava beans, and peas. The initiative was taken in response to the growing demand for vegan food, which will further integrate well with the market growth trend.
Islam is the fastest-growing religion, especially in Asia Pacific, which will positively affect the demand for halal products in the region. According to an article published in China Highlights, in February 2022, there are almost 25 million Muslims spread across China and are further concentrated in small groups with Islam being the major community. The growing awareness among Muslims regarding the need and necessity to consume non-haram food owing to their religious sentiments is expected to drive the market. Some of the brands offering halal-certified products in the region are Ecolite, Saffron Road, Prasuma, Keventer, Prima Agri-Products, Nestle, and Pampangas Best.
Key manufacturers in the market are adopting various marketing strategies, such as product innovation, product line expansion, and acquisition, to produce halal foods and strengthen their market position. For instance, in May 2021, Kimly, a coffee operator acquired a 75% stake in Tenderfresh, a food business for USD 54 million. The strategy was amended to expand the industry in Singapore and other neighboring countries that will be available across restaurants, food stalls, and kiosks in the country. Also, Tenderfresh produces halal-certified products which will leverage a competitive edge for these products in the industry.
Halal cuisine has grown in popularity among Muslim and non-Muslim consumers in recent years as it has evolved from a religious identity mark to a guarantee of meals safety, hygiene, and reliability. According to an article published in the United States Department of Agriculture (USDA), in April 2021, the Indonesian government enacted required halal labeling and certification laws, resulting in which consumers increasingly choosing these foods. Manufacturers have broadened their product line in response to increased demand by developing many value-added food items. For instance, in November 2019, Marks & Spencer launched its own-brand halal-ready meals, products including chicken arrabbiata, chicken and mushroom tagliatelle, chicken and leek bake, and chicken hotpot, chicken jalfrezi, and chicken tikka masala. These meals will be available in U.K., Dubai, and Singapore outlets, operated by Al-Futtaim.
Browse through Grand View Research's Consumer F&B Industry Research Reports.
- Meal Kit Delivery Services Market - The global meal kit delivery services market size was valued at USD 15.21 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 17.4% from 2022 to 2030. Increasing preference for home-cooked and chef-cooked food among millennials is a major factor contributing to the growth of the market.
- Organic Wine Market - The global organic wine market size was estimated at USD 8.9 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 10.2% from 2022 to 2030. The market growth is driven by the shifting consumer behavior patterns for food and beverages across the world.
Halal Food And Beverage Market Segmentation
Grand View Research has segmented the halal food And beverage market based on product, distribution channel, and region.
Halal Food And Beverage Product Outlook (Revenue, USD Million, 2017 - 2030)
- Meat & Alternatives
- Milk & Milk Products
- Fruits & Vegetables
- Grain Products
- Others
Halal Food And Beverage Distribution channel Outlook (Revenue, USD Million, 2017 - 2030)
- Hypermarket & Supermarket
- Departmental Store
- Online
- Others
Halal Food And Beverage Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Market Share Insights
- January 2021: Nigeria leveraged on public-private partnership with OneAgrix for better Agriculture and Halal market access under AfCFTA. This will enable the country to gain better market access by using OneAgrix’s trading platform both regionally and globally.
- February 2022: Chicken Cottage announced to enter the East African market through a franchising partnership agreement with Express Kitchen, a subsidiary of AAH Limited to expand their business line.
Key Companies profiled:
Some of the key players operating in the halal food and beverage market include:
- Nestlé S.A
- Cargill, Incorporated
- Unilever
- American Halal Company, Inc.
- Al-Falah Halal Foods
- Prima Agri-Products
- One World Foods Inc.
- Midamar Corporation
- QL Foods
- Rosen's Diversified Inc.
Order a free sample PDF of the Halal Food And Beverage Market Intelligence Study, published by Grand View Research.
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