Halal Food Market Set to Skyrocket to US$ 3,229,805.32 Million by 2033

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.

Halal personal hygiene and cosmetic goods help to bridge cultural boundaries. Non-Muslim consumers are becoming more aware of the moral and aesthetic standards for halal items. The market is expanding beyond its traditional customer base as non-Muslim customers seek halal products for perceived safety, ethical sourcing, and nutrient profiles.

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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 Points and Insights:

1. Halal-certified cosmetics and personal care products are transcending cultural boundaries, attracting non-Muslim consumers due to perceived safety, ethical sourcing, and healthful attributes.
2. The demand for natural and organic products globally is closely linked to the halal beauty market, emphasizing the preference for health-conscious beauty and grooming products.
3. Leading companies in halal beauty prioritize research and development (R&D) to create innovative products adhering to halal rules, fostering a continual supply of improved halal personal care and cosmetic items.
4. Customizable and adaptable halal beauty and personal care products are gaining popularity, allowing consumers to tailor products to their preferences, skin types, and concerns.

Halal Food Market Key Takeaways:

1. The global market size was US$ 1,098,216.6 million in 2018, expanding at a CAGR of 3.1% from 2018 to 2022.
2. In 2022, the global market size reached US$ 1,241,759.4 million, with the conventional segment holding 87.9% of the market shares.
3. Segments like meat, poultry, and seafood, along with food and beverages, played significant roles, capturing substantial market shares in 2022.
4. India’s halal food market expanded at a CAGR of 7.3% in 2022, while the United States experienced a thriving market with a CAGR of 13.4%.
5. The United Kingdom witnessed a 10.2% CAGR in its halal food market in 2022.

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.

Recent Developments:

• In August 2023, a program was launched to accelerate the halal food industry in Saudi Arabia, aiming to become a global hub for halal products.
• In April 2023, Delivery Hero introduced Bekal by Foodpanda, a service ensuring end-to-end halal deliveries in Malaysia, contributing to the global halal food market.

For a detailed understanding and customized insights, refer to the Halal Food Market Sample Report and explore opportunities by customizing your report here.

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