Halal Food Market to Hit US$ 4.18 Trillion by 2028

In the latest research report by IMARC Group, “Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” a comprehensive analysis is offered, including key insights into the global halal food market trends, regional analysis, competitors, and current market advancements.

The global halal food market reached a sizable US$ 2.22 trillion in 2022. Projecting forward, the market is expected to grow to US$ 4.18 trillion by 2028, representing a compound annual growth rate (CAGR) of 10.8% over the 2023-2028 period.

Read this: Pakistan Halal Authority to Enter the Global Halal Food Market

The term ‘halal food’ refers to food prepared strictly following the rules of Islamic dietary law. These laws prohibit the use of human- or animal-derived ingredients and genetically modified organisms (GMOs). Halal food is considered more ethical, safer to consume, less likely to be contaminated, and aids metabolism, as it is devoid of pork, alcohol, intoxicants, and unhygienic content. Halal-certified packaging materials and equipment are used in its cleaning, storage, and packaging.

The primary driver of the global halal market is the rising Muslim population observing Islamic dietary laws as part of their faith. Stringent regulatory frameworks, including mandatory halal labeling and certification standards for food and drinks, have further accelerated the market’s growth. The increasing awareness of the benefits of halal food products among non-Muslim communities is also bolstering demand. These benefits include safety, hygiene, improved taste, high nutritional value, and stress hormone-free meat.

Major companies are introducing value-added food items such as hot dogs, soups, burgers, candies, sandwiches, cookies, creams, and pizzas. These are becoming increasingly popular among consumers. The surge in the availability of halal food and beverages across various e-commerce channels is also fueling market growth.

The IMARC Group report also provides a detailed analysis of the competitive landscape, highlighting some of the top halal food manufacturing companies including QL Foods, Al Islami Foods, Dagang Halal, Saffron Road Food, Kawan Foods, Janan Meat, Prima Agri-Products, Cargill, BRF, Nestle, Tahira Food, and Al-Falah Halal Foods.