halal food market set to skyrocket to $3.2 trillion by 2033, boasting a 9.6% CAGR from 2023, driven by its appeal to non-Muslims for safety, ethics, and health benefits, expanding its reach beyond traditional consumers.
The halal food market size is anticipated to surpass US$ 1,291,429.8 million in 2023 and is likely to attain a valuation of US$ 3,229,805.32 million by 2033. The halal food market share is projected to thrive at a CAGR of 9.6% from 2023 to 2033.
It is anticipated that by 2033, the halal food market would have grown from US$ 1.2 trillion in 2023 to US$ 3.2 trillion. Halal-certified cosmetics and personal care products are breaking down boundaries between cultures and attracting non-Muslim consumers due to its perceived safety, ethical sourcing, and healthful attributes. As a result, the company is expanding outside its traditional audience.
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Bridging cultural gaps is facilitated by halal personal hygiene products and cosmetics. Non-Muslim consumers are growing increasingly aware of the moral and aesthetic requirements for halal products. The market is expanding beyond its typical customer base as a result of non-Muslim consumers’ desire for halal products due to its perceived safety, ethical sourcing, and nutrient profiles.
The demand for natural and organic products around the world and the halal beauty market are closely tied. Many halal personal care businesses place a premium on using unadulterated, natural goods as opposed to synthetic ones. This is consistent with customers’ growing choice for beauty and grooming products that are health-conscious. Given the parallels between halal and natural/organic goods, a market segment that caters to consumers who are health-conscious is growing.
Leading companies in halal beauty place the highest importance on research and development (R&D). They invest a lot of resources into developing revolutionary product formulations that adhere to halal rules and suit the unique needs of a variety of clients. This commitment to R&D results in a continual supply of new, improved halal personal care and cosmetic products, keeping the market dynamic and responsive to altering customer trends.
More and more brands are offering customizable and adaptable halal beauty and personal care products. Customers may now customise products to suit their preferences, skin types, and concerns thanks to this trend. Customers who are looking for products that match their unique needs are drawn to customization and personalization, which also helps the industry grow by improving the consumer experience.
Key Takeaways from the Halal Food Market Report
- The global market size stood at US$ 1,098,216.6 million in 2018.
- The market expanded at a CAGR of 3.1% from 2018 to 2022.
- In 2022, the global market size stood at US$ 1,241,759.4 million.
- In 2022, the conventional segment gained 87.9% of the global halal food market shares.
- In 2022, the meat, poultry, and seafood segment captured 56.4% of the halal food market shares.
- In 2022, the food and beverages segment held 44.5% of the global halal food market shares.
- In 2022, India’s halal food market expanded at a CAGR of 7.3%.
- In 2022, The United States’ halal food market thrived at a CAGR of 13.4%.
- In 2022, the halal food market in the United Kingdom rose at a 10.2% CAGR.
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Halal Food Market Segmentation
By Nature:
- Organic
- Conventional
By Product Type:
- Meat, Poultry, and Seafood
- Dairy Products
- Fruits, Nuts and Vegetables
- Fats, Oils 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
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Recent Developments in the Halal Food Market
- To support Saudi Arabia’s aim to become a hub for halal food products worldwide, a new program was launched in August 2023 to accelerate the expansion of the halal food industry in the Kingdom. The Saudi Exports Development Authority and the Halal Products Development Co. have signed a strategic collaboration agreement to launch the Halal Products Manufacturing Accelerator Program.
- In April 2023, Delivery Hero—the leading local delivery service in the world—announced Bekal by Foodpanda, a new service that guarantees end-to-end halal deliveries for consumers in Malaysia. This is the only delivery fleet in the entire country to have received halal certification, making it the first global brand in the Delivery Hero family to do so. Bekal by Foodpanda will only provide food from halal-certified vendors on the Foodpanda platform using a halal-certified delivery fleet with loyal riders.
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