GLOBAL HALAL FOOD & BEVERAGE MARKET FORECAST 2020-2028

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GLOBAL HALAL FOOD & BEVERAGE MARKET FORECAST 2020-2028

According to the estimations put forth by Inkwood Research, the global halal food & beverage market is projected to record a CAGR of 6.05% in terms of value, during the projected period, and will reach revenue of $875.99 billion by 2028.  For the market study, 2019 is considered as the base year, and the forecasted period is between 2020 and 2028. Islam is a global religion, and is not confined to the Muslim-majority nations such as Indonesia, Saudi Arabia, and Egypt. Minor yet momentous Islamic communities are present across the Americas, Australia, and Europe. The Muslim population in western countries has substantially increased, compared to that of, before the 21st century. This is due to the increasing immigration from the Middle East and the Asian Muslim countries. Driven by immigration and high birth rates, the Islamic population in Europe has tripled over the last three decades, and a similar trend has been witnessed in other regions as well.

GLOBAL HALAL FOOD & BEVERAGE MARKET FORECAST 2020-2028

Global Halal Food & Beverage Market by Product Type (Halal Meat & Alternatives, Halal Milk & Milk Products, Halal Fruits & Vegetables, Halal Grain Products, Others) by Distribution Channels (Traditional Retailers, Supermarkets & Hypermarkets, Online, Others) by User Demographics (Muslims, Non-muslims) by Geography.

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According to the estimations put forth by Inkwood Research, the global halal food & beverage market is projected to record a CAGR of 6.05% in terms of value, during the projected period, and will reach revenue of $875.99 billion by 2028.  For the market study, 2019 is considered as the base year, and the forecasted period is between 2020 and 2028.

The global market for halal food & beverage is driven by:

  • Increasing Muslim population
  • Growing awareness among the non-Muslim population regarding halal food

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Islam is a global religion and is not confined to the Muslim-majority nations such as Indonesia, Saudi Arabia, and Egypt. Minor yet momentous Islamic communities are present across the Americas, Australia, and Europe. The Muslim population in western countries has substantially increased, compared to that of, before the 21st century. This is due to the increasing immigration from the Middle East and the Asian Muslim countries. Driven by immigration and high birth rates, the Islamic population in Europe has tripled over the last three decades, and a similar trend has been witnessed in other regions as well. Research studies show that, if the trend continues in a similar manner until 2030, 79 countries are anticipated to account for over a million Muslim inhabitants by 2030, as opposed to 72 nations in 2011. The new countries to join in the league of growing Islamic population can be Canada, Congo, Belgium, Guinea Bissau, Togo, and the Netherlands. The increasing global Muslim population is expected to have a wide-ranging influence on the global halal food & beverage market size, and the consumption of halal products over the forecast period.

In 2019, the traditional retailers category captured around 47.79% of the revenue share in the global halal food & beverage market. On the other hand, online is anticipated to be the fastest-growing distribution channel. Businesses owned or run by Muslims typically tend to rely on the trust of consumers, since the products sold are assumed to be in line with both parties’ religious values. In contrast, the non-Muslim owned businesses, or the larger-scale businesses with limited transparency into operations, invest time and resources abiding by the regulatory guidelines for the halal certificate. The key advantage of buying meat from a halal butcher shop is that the customer is assured that the meat is 100% halal. The other advantage is that the customer can negotiate with the butcher for discounts. Halal meat purchased from the internet is of great quality, since it has to follow the standards and regulations set by the Islamic religion. The meat can be traced back to the source or the farm where it was reared. Thus, the consumer is offered the best quality product. Buying halal meat online gives you the opportunity to have a range of selection of the available options.

On the other hand, the global halal food & beverage market growth is restricted by the implementation of halal standards throughout the value chain. Although the concept of halal is garnering attention and strengthening its market position in Muslim as well as non-Muslims countries, issues like inappropriate hygienic practices and production & processing facilities, and most importantly, the expiration of halal certifications create an environment for weakening consumer trust. The supply chain and logistics are other important aspects of the halal food industry that need to be upgraded. The logistics aspect of these products is critical, since the halal integrity of the supply chain works from farm to table.

The report on the global halal food & beverage market includes segmentation analysis on the basis of product type, distribution channel, user demographics.

Market by Product Type:

  • Halal milk & milk products
  • Halal fruits & vegetables
  • Halal meat & alternatives
  • Halal grain products

Market by Distribution Channel:

  • Traditional retailers
  • Online
  • Supermarkets & hypermarkets
  • Others

Market by User Demographics:

  • Muslims
  • Non-Muslims

Geographically, the global market for halal food & beverage has been segmented into four major regions:

  • North America: the United States and Canada
  • Europe: the United Kingdom, Germany, France, Italy, Russia, Belgium , Poland, Turkey, and the Rest of Europe
  • Asia Pacific: China, India, Japan, South Korea, Australia & New Zealand, Thailand, Indonesia, Malaysia, Vietnam, Singapore, and the Rest of Asia Pacific
  • Rest of World: Latin America, the Middle East, and Africa

In terms of geography, Asia Pacific is the largest market with a market share of 48.16% in terms of revenue in 2019. The Asia Pacific market region is also set to record the highest CAGR during the estimated period. The Asia Pacific region is home to the largest Muslim population in the world. Some of the countries in the region are Indonesia, Thailand, Singapore, and Myanmar. Hence, feeding this vast community in the Asia Pacific region has resulted in substantial growth in terms of size for the market.  The growing literacy rate among the young Muslim generation has also become an important factor for the growth of the market. The other factors include the increasing awareness among the consumers about other beneficiary qualities of halal food apart from religious beliefs, like food & beverage security and nutrition, along with rising tourism.

The key players involved in the global halal food & beverage market are:

  • Nestle
  • Cargill Inc
  • Crescent foods
  • Nema food co
  • Others

Key trends of the global halal food & beverage market:

  • As of 2019, the Asia Pacific market region holds the largest share of around 48.16% in the halal food & beverage market.
  • The halal milk & milk products category shows significant growth in the product type.
  • The non-Muslim user demographics are accepting halal products.
  • As of 2019, the traditional retailers category leads the market by capturing the largest market share of around 47.79%.
  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF THE MARKET STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & FORECAST
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • MARKET DEFINITION
    • FOOD PREFERENCES
    • MARKET DRIVERS
      • INCREASING MUSLIM POPULATION
      • GROWING AWARENESS AMONG NON-MUSLIM POPULATION REGARDING HALAL FOOD
    • MARKET RESTRAINTS
      • IMPLEMENTATION OF HALAL STANDARDS THROUGHOUT THE VALUE CHAIN
  1. KEY ANALYTICS
    • PORTER’S FIVE FORCE MODEL
      • NEW ENTRANTS
      • SUBSTITUTION
      • SUPPLIERS POWER
      • BUYERS POWER
      • INDUSTRIAL RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • REGULATORY FRAMEWORK
    • VALUE CHAIN ANALYSIS
    • KEY INVESTMENT INSIGHTS
  2. MARKET BY PRODUCT TYPE
    • HALAL MEAT & ALTERNATIVES
    • HALAL MILK & MILK PRODUCTS
    • HALAL FRUITS & VEGETABLES
    • HALAL GRAIN PRODUCTS
    • OTHERS
  3. MARKET BY DISTRIBUTION CHANNELS
    • TRADITIONAL RETAILERS
    • SUPERMARKETS & HYPERMARKETS
    • ONLINE
    • OTHERS
  4. MARKET BY USER DEMOGRAPHICS
    • MUSLIMS
    • NON-MUSLIMS
  5. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • TURKEY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • THAILAND
      • INDONESIA
      • VIETNAM
      • MALAYSIA
      • SINGAPORE
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA
  1. COMPANY PROFILES
    • NESTLE
    • CARGILL INC.
    • AL ISLAMI FOODS.
    • QL FOODS SDN. BHD
    • CRESCENT FOODS
    • NEMA FOOD CO
    • NAMET
    • KAWAN FOOD BERHAD
    • HAOYUE GROUP
    • ALLANASONS PVT. LTD.

LIST OF TABLES

TABLE 1: HALAL FOOD & BEVERAGE MARKET SNAPSHOT

TABLE 2: TASTE & FOOD PREFERENCES

TABLE 3: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 4: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 5: GLOBAL HALAL MEAT & ALTERNATIVES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 6: GLOBAL HALAL MEAT & ALTERNATIVES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 7: GLOBAL HALAL MILK & MILK PRODUCTS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 8: GLOBAL HALAL MILK & MILK PRODUCTS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 9: GLOBAL HALAL FRUITS & VEGETABLES MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 10: GLOBAL HALAL FRUITS & VEGETABLES MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 11: GLOBAL HALAL GRAIN PRODUCTS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 12: GLOBAL HALAL GRAIN PRODUCTS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 13: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 14: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 15: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY DISTRIBUTION CHANNELS, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 16: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY DISTRIBUTION CHANNELS, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 17: GLOBAL TRADITIONAL RETAILERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 18: GLOBAL TRADITIONAL RETAILERS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 19: GLOBAL SUPERMARKETS & HYPERMARKETS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 20: GLOBAL SUPERMARKETS & HYPERMARKETS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 21: GLOBAL ONLINE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 22: GLOBAL ONLINE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 23: GLOBAL OTHERS MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 24: GLOBAL OTHERS MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 25: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY USER DEMOGRAPHICS, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 26: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY USER DEMOGRAPHICS, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 27: GLOBAL MUSLIM MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 28: GLOBAL MUSLIM MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 29: GLOBAL NON-MUSLIM MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 30: GLOBAL NON-MUSLIM MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 31: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 32: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY GEOGRAPHY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 33: NORTH AMERICA HALAL FOOD & BEVERAGE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 34: NORTH AMERICA HALAL FOOD & BEVERAGE MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 35: EUROPE HALAL FOOD & BEVERAGE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 36: EUROPE HALAL FOOD & BEVERAGE MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 37: ASIA PACIFIC HALAL FOOD & BEVERAGE MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 38: ASIA PACIFIC HALAL FOOD & BEVERAGE MARKET, BY COUNTRY, FORECAST YEARS, 2020-2028 (IN $ MILLION)

TABLE 39: REST OF WORLD HALAL FOOD & BEVERAGE MARKET, BY REGION, HISTORICAL YEARS, 2016-2019 (IN $ MILLION)

TABLE 40: REST OF WORLD HALAL FOOD & BEVERAGE MARKET, BY REGION, FORECAST YEARS, 2020-2028 (IN $ MILLION)

LIST OF FIGURES

FIGURE 1: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY REGION, 2019 & 2028 (IN %)

FIGURE 2: PORTER’S FIVE FORCE ANALYSIS

FIGURE 3: OPPORTUNITY MATRIX

FIGURE 4: VENDOR LANDSCAPE

FIGURE 5: VALUE CHAIN ANALYSIS

FIGURE 6: KEY INVESTMENT INSIGHTS

FIGURE 7: GLOBAL HALAL FOOD & BEVERAGE MARKET, GROWTH POTENTIAL BY PRODUCT TYPE (IN 2019)

FIGURE 8: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY HALAL MEAT & ALTERNATIVES, 2020-2028 (IN $ MILLION)

FIGURE 9: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY HALAL MILK & MILK PRODUCTS, 2020-2028 (IN $ MILLION)

FIGURE 10: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY HALAL FRUITS & VEGETABLES, 2020-2028 (IN $ MILLION)

FIGURE 11: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY HALAL GRAIN PRODUCTS, 2020-2028 (IN $ MILLION)

FIGURE 12: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY OTHERS, 2020-2028 (IN $ MILLION)

FIGURE 13: GLOBAL HALAL FOOD & BEVERAGE MARKET, GROWTH POTENTIAL BY DISTRIBUTION CHANNELS (IN 2019)

FIGURE 14: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY TRADITIONAL RETAILERS, 2020-2028 (IN $ MILLION)

FIGURE 15: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY SUPERMARKETS & HYPERMARKETS, 2020-2028 (IN $ MILLION)

FIGURE 16: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY ONLINE, 2020-2028 (IN $ MILLION)

FIGURE 17: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY OTHERS, 2020-2028 (IN $ MILLION)

FIGURE 18: GLOBAL HALAL FOOD & BEVERAGE MARKET, GROWTH POTENTIAL BY USER DEMOGRAPHICS (IN 2019)

FIGURE 19: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY MUSLIMS, 2020-2028 (IN $ MILLION)

FIGURE 20: GLOBAL HALAL FOOD & BEVERAGE MARKET, BY NON-MUSLIMS, 2020-2028 (IN $ MILLION)

FIGURE 21: NORTH AMERICA HALAL FOOD & BEVERAGE MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 22: UNITED STATES HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 23: CANADA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 24: EUROPE HALAL FOOD & BEVERAGE MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 25: UNITED KINGDOM HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 26: GERMANY HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 27: FRANCE HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 28: ITALY HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 29: RUSSIA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 30: BELGIUM HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 31: POLAND HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 32: TURKEY HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 33: REST OF EUROPE HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 34: ASIA PACIFIC HALAL FOOD & BEVERAGES MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 35: CHINA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 36: JAPAN HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 37: INDIA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 38: SOUTH KOREA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 39: THAILAND HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 40: INDONESIA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 41: VIETNAM HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 42: MALAYSIA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 43: SINGAPORE HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 44: AUSTRALIA & NEW ZEALAND HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 45: REST OF ASIA PACIFIC HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 46: REST OF WORLD HALAL FOOD & BEVERAGES MARKET, REGIONAL OUTLOOK, 2019 & 2028 (IN %)

FIGURE 47: LATIN AMERICA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

FIGURE 48: MIDDLE EAST & AFRICA HALAL FOOD & BEVERAGE MARKET, 2020-2028 (IN $ MILLION)

  1. MARKET BY PRODUCT TYPE
    • HALAL MEAT & ALTERNATIVES
    • HALAL MILK & MILK PRODUCTS
    • HALAL FRUITS & VEGETABLES
    • HALAL GRAIN PRODUCTS
    • OTHERS
  2. MARKET BY DISTRIBUTION CHANNELS
    • TRADITIONAL RETAILERS
    • SUPERMARKETS & HYPERMARKETS
    • ONLINE
    • OTHERS
  3. MARKET BY USER DEMOGRAPHICS
    • MUSLIMS
    • NON-MUSLIMS
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • UNITED STATES
      • CANADA
    • EUROPE
      • UNITED KINGDOM
      • GERMANY
      • FRANCE
      • ITALY
      • RUSSIA
      • BELGIUM
      • POLAND
      • TURKEY
      • REST OF EUROPE
    • ASIA PACIFIC
      • CHINA
      • JAPAN
      • INDIA
      • SOUTH KOREA
      • THAILAND
      • INDONESIA
      • VIETNAM
      • MALAYSIA
      • SINGAPORE
      • AUSTRALIA & NEW ZEALAND
      • REST OF ASIA PACIFIC
    • REST OF WORLD
      • LATIN AMERICA
      • MIDDLE EAST & AFRICA

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