The global halal food market, valued at USD 1.2 trillion in 2022, is set to grow at a steady CAGR of 5.6% and reach USD 3.0 trillion by 2032. Notably, there’s an anticipated 9.1% year-on-year increase in halal food demand in 2022. The Department of Islamic Development Malaysia (JAKIM) is now implementing a halal certification program, and the Malaysian government introduced the internationally recognized Malaysian halal certificate in 2005, benefiting Muslim countries within the Organisation of the Islamic Conference (OIC).
The halal food market was estimated to be worth USD 1.2 Tn in 2022 and is anticipated to increase at a CAGR of 5.6% from 2022 to 2032, when it is expected to be worth USD 3.0 Tn. According to recently released market analysis data from Future Market Insights, the demand for halal food worldwide is expected to increase by 9.1% Y-o-Y in 2022.
The halal certification programme is now being implemented by the Department of Islamic Development Malaysia (JAKIM). In addition to monitoring and enforcing halal compliance in Malaysia, the Malaysian government supported the only internationally accepted emblem and certification system in 2005—the Malaysian halal certificate. Any Muslim country may utilise it because it belongs to the Organisation of the Islamic Conference (OIC).
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Halal certification authorities in other nations were either founded by regional or provincial governments or with assistance from non-governmental organisations (NGOs). Malaysia’s position as the top halal centre in the world was strengthened with the establishment of the Halal Industry Development Corporation (HDC) in 2006. It was established with the goal of raising halal standards as well as promoting business, industry, and branding growth
The Prima Halal Food Park is already home to more than 70 small and medium-sized businesses (SMIs) in the halal food manufacturing sector. These SMIs can all sign up for the Prima Vendor Programme, which enables them to produce halal food under the PRIMA name. The products are then disseminated using the PRIMA sales network.
Halal cuisine can also be produced by independent food and beverage companies under their own brands. Businesses in this situation are required to develop their own distribution networks while also paying a portion of the costs for the park’s shared facilities and central services.
Key Takeaways from Market Study
- The halal food market is worth of US$ 1.2 Tn sales in 2022.
- The halal food market is expected to expand at CAGRs of 9.7% through 2032.
- Global halal food demand is projected to grow year-on-year (Y-o-Y) growth of 9.1% in 2022.
- The halal food market is growing with a notable boost towards the production to reach USD 3.0 Tn by 2032.
- Increasing requirement for the food among both Muslims and non-Muslims, advancement in healthy technologies incorporated, and strict regulations implementations are the factors driving growth of the market and to be the influencing factors among consumers, which is driving sales of halal food across global markets.
- Demand for halal food grew at 8.8% CAGR between 2017 and 2021.
- Prima Quality Food Industries Sdn Bhd, The Halal Food Company, Cargill Incorporated, Pacmoore Products Inc., and Al Islami Foods are expected to be the top players in the industry.
- Halal food isolate with powdered form segment are in heavy demand from infant formula industry carrying a notable market share.
“Because of the stringent regulations in attaining halal certification, halal cuisine has evolved from being a religious dietary choice to an assurance of safe, healthy, hygienic and reliable food. The move to adopt uniform halal standards across OIC countries will allow them the opportunity to raise the standard of halal food and further strengthen the perception and market share of halal products in the global food trade,” says a Future Market Insights analyst.
Competitive Landscape
Key halal food brands are looking for new strategic partnerships to develop the applications in food and beverage industry, along with infant formula and dietary supplements, while core business brands are focusing on developing nutritional and high quality food solutions to customers with several product innovations.
- Delivery startup Jahez in Saudi Arabia raised US$36 million for its commission-free halal food ordering website, DeliverDXB, which launched in Dubai March of 2020.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global halal food market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Improve Your Culinary Experience: Use Our Thorough Market Analysis to Explore the World of Halal Food. Buy now and learn priceless insights :
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Halal Food Market by Category
By Nature:
- Organic
- Conventional
By Product Type:
- Meat, Poultry and Seafood
- Dairy Products
- Fruits, Nuts and Vegetables
- Fats, Oil and Waxes
- Grains and Cereals
- Beverages
- Others
By Application:
- Food & Beverages
- Nutraceuticals & Dietary Supplements
- Infant Formula
- Animal Feed Industry
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East & Africa
Frequently Asked Questions
- How much worth is the halal food industry?
- At what CAGR is the market expected to expand through 2032?
- How was the performance of halal food been over the past half-decade?
- What will be the market for halal food worth in 2032?
- Who are the key players operating in the market?
- Which are the top countries driving the halal food market demand?
- What are the key factors affecting the halal food market growth?
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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