The global halal food market is set to witness growth at a CAGR of 9.7% and top a valuation of US$ 3.0 Tn by 2032. When it comes to halal certification, many Islamic countries have their own set of rules and restrictions. However, the Malaysian government has worked to establish a global halal standard. Malaysia’s Research Centre for Islamic Affairs established a national halal certification in 1974.
In addition to overseeing and enforcing halal compliance in Malaysia, the Department of Islamic Development Malaysia (JAKIM) took over the implementation of the halal certification system in 2005. Malaysia’s halal certificate is the only internationally recognised emblem and certification system supported by the Malaysian government. Considering that it belongs to the Organisation of the Islamic Conference (OIC), it is authorised for usage by all Muslim countries.
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Other countries’ halal certification bodies were either established by regional governments or provinces or received support from non-governmental organisations (NGOs). The Halal Industry Development Corporation (HDC) was established in 2006 to strengthen Malaysia’s status as the top halal hub in the world. It was started with the intention of improving halal standards while also fostering 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
- Prima Quality Food Industries Sdn Bhd
- The Halal Food Company
- Cargill Incorporated
- Pacmoore Products Inc.
- Al Islami Foods
- Halal Fine Foods
- Nestlé S.A.
- Wellmune® (Kerry Plc)
- Kewpie Corporation
- YHS (SINGAPORE) PTE LTD
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.
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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
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.
The study offers compelling insights based on nature (organic and conventional), product type (meat, poultry and seafood, dairy products, fruits, nuts and vegetables, fats, oil and waxes, grains and cereals, beverages, and others), and application (food & beverages, nutraceuticals & dietary supplements, infant formula, animal feed industry, and others), across seven major regions of the world.
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