Halal Food and Beverages Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2025-2034

Executive Summary

The global halal food and beverages market is growing rapidly, driven by the increasing Muslim population and rising awareness about the health benefits of halal food and beverages. The market is expected to reach USD 2.55 trillion by 2024, growing at a CAGR of 6.8% from 2019 to 2024. The market is highly fragmented, with a large number of small and medium-sized enterprises operating in the market. The market is also characterized by the presence of a large number of multinational companies that are actively investing in the halal food and beverages market.

Important Note: The companies listed in the image above are for reference only. The final study will cover 18–20 key players in this market, and the list can be adjusted based on our client’s requirements.

Key Market Insights

The global halal food and beverages market is driven by several key factors, including the increasing Muslim population, rising awareness about the health benefits of halal food and beverages, and increasing demand for ethical and sustainable food products. The market is also being driven by the growing popularity of halal food and beverages among non-Muslims, who are attracted to the health and ethical benefits of halal food and beverages.

The market is highly fragmented, with a large number of small and medium-sized enterprises operating in the market. The market is also characterized by the presence of a large number of multinational companies that are actively investing in the halal food and beverages market. These companies are focused on expanding their product portfolios and increasing their market share in the halal food and beverages market.

The market is also characterized by the increasing popularity of online sales channels. Consumers are increasingly turning to online channels to purchase halal food and beverages, as they offer convenience, a wider selection of products, and competitive pricing.

Market Drivers

1. Increasing Muslim Population

The global Muslim population is increasing rapidly, and this is one of the key drivers of the halal food and beverages market. According to Pew Research Center, the global Muslim population is expected to reach 2.76 billion by 2050, up from 1.6 billion in 2010. This growth in the Muslim population is expected to drive the demand for halal food and beverages.

2. Rising Awareness about the Health Benefits of Halal Food and Beverages

Consumers are increasingly aware of the health benefits of halal food and beverages. Halal food and beverages are considered to be healthier, as they are prepared using only permissible ingredients and prepared using specific methods. Halal food and beverages are also considered to be more hygienic, as they are prepared according to Islamic dietary laws, which require that food be prepared in a specific way.

3. Increasing Demand for Ethical and Sustainable Food Products

Consumers are becoming increasingly conscious about the ethical and sustainable aspects of the food products they consume. Halal food and beverages are considered to be ethical and sustainable, as they require that animals be treated humanely and the environment be protected during the production process. This is driving the demand for halal food and beverages among consumers who are concerned about the ethical and sustainable aspects of their food.

Market Restraints

1. Limited Availability of Halal Certification

One of the key challenges facing the halal food and beverages market is the limited availability of halal certification. Halal certification is required for food and beverages to be considered halal, and the process of obtaining certification can be complex and expensive. This is a barrier to entry for small and medium-sized enterprises, and it can limit the availability of halal food and beverages in certain markets.

2. Lack of Standardization in Halal Certification

Another challenge facing the halal food and beverages market is the lack of standardization in halal certification. There are several different organizations that provide halal certification, and their standards and criteria for certification can vary. This can lead to confusion among consumers and can make it difficult for companies to obtain certification in different markets.

3. High Cost of Halal Certification

The cost of halal certification can be high, particularly for small and medium-sized enterprises. This can be a barrier to entry for these companies and can limit the availability of halal food and beverages in certain markets.

Market Opportunities

1. Growing Demand for Halal Food and Beverages Among Non-Muslims

Halal food and beverages are gaining popularity among non-Muslims, who are attracted to the health and ethical benefits of halal food and beverages. This presents a significant opportunity for companies operating in the halal food and beverages market, as it expands the potential market for their products.

2. Increasing Popularity of Online Sales Channels

The increasing popularity of online sales channels presents a significant opportunity for companies operating in the halal food and beverages market. Consumers are increasingly turning to online channels to purchase halal food and beverages, as they offer convenience, a wider selection of products, and competitive pricing.

3. Growing Demand for Halal Food and Beverages in Emerging Markets

Emerging markets represent a significant opportunity for companies operating in the halal food and beverages market. These markets are experiencing rapid economic growth and urbanization, which is driving the demand for halal food and beverages. In addition, these markets often have large Muslim populations, which presents a significant opportunity for companies operating in the halal food and beverages market.

Market Dynamics

The halal food and beverages market is highly dynamic, driven by changing consumer preferences and trends. The market is also influenced by various macroeconomic factors, including economic growth, urbanization, and population growth. The increasing popularity of online sales channels is also driving changes in the market, as companies seek to adapt to the changing retail landscape.

Regional Analysis

The halal food and beverages market is segmented into several regions, including North America, Europe, Asia Pacific, Middle East and Africa, and South America. The Asia Pacific region is the largest market for halal food and beverages, driven by the large Muslim population in the region. The Middle East and Africa region is also a significant market, driven by the presence of several Muslim-majority countries in the region.

Competitive Landscape

Leading companies in the Halal Food and Beverages Market:

1. Nestlé S.A.
2. Al Islami Foods
3. Saffron Road Food
4. BRF S.A.
5. QL Resources Berhad
6. Halal-NSF
7. Tahira Foods Ltd.
8. Prima Agri-Products
9. Midamar Corporation
10. Kawan Food Berhad

Please note: This is a preliminary list; the final study will feature 18–20 leading companies in this market. The selection of companies in the final report can be customized based on our client’s specific requirements.

Segmentation

The halal food and beverages market is segmented based on product type, distribution channel, and region.

Based on product type, the market is segmented into meat, poultry, and seafood, dairy products, processed food and beverages, and others. The processed food and beverages segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing demand for convenience food and beverages.

Based on distribution channel, the market is segmented into supermarkets and hypermarkets, specialty stores, online channels, and others. The online channels segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing popularity of online sales channels.

Category-wise Insights

Meat, poultry, and seafood products are the largest category in the halal food and beverages market, driven by the large Muslim population that consumes these products. The dairy products segment is also a significant category, driven by the increasing demand for halal milk, cheese, and other dairy products.

The processed food and beverages segment is expected to grow at the highest CAGR during the forecast period, driven by the increasing demand for convenience food and beverages. This segment includes products such as snacks, ready-to-eat meals, and beverages.

Key Benefits for Industry Participants and Stakeholders

Industry participants and stakeholders in the halal food and beverages market can benefit from several key trends and developments, including:

1. Increasing Muslim population, which is driving the demand for halal food and beverages.
2. Rising awareness about the health benefits of halal food and beverages, which is driving the demand for these products among health-conscious consumers.
3. Increasing demand for ethical and sustainable food products, which is driving the demand for halal food and beverages among consumers who are concerned about the ethical and sustainable aspects of their food.

SWOT Analysis

Strengths:

1. Increasing demand for halal food and beverages among Muslims and non-Muslims.
2. Growing awareness about the health benefits of halal food and beverages.
3. Growing popularity of online sales channels.
4. Increasing demand for ethical and sustainable food products.

Weaknesses:

1. Limited availability of halal certification.
2. Lack of standardization in halal certification.
3. High cost of halal certification.

Opportunities:

1. Growing demand for halal food and beverages among non-Muslims.
2. Increasing popularity of online sales channels.
3. Growing demand for halal food and beverages in emerging markets.

Threats:

1. Competition from non-halal food and beverages.
2. Stringent regulations and certification requirements.
3. Fluctuating raw material prices.

Market Key Trends

1. Growing popularity of halal food and beverages among non-Muslims.
2. Increasing use of technology in the production and distribution of halal food and beverages.
3. Growing demand for halal-certified products in the cosmetics and pharmaceutical industries.

Covid-19 Impact

The Covid-19 pandemic has had a significant impact on the halal food and beverages market. The pandemic has disrupted supply chains and has led to a decline in consumer demand, particularly in the foodservice sector. However, the pandemic has also led to an increase in demand for packaged and processed food and beverages, as consumers have shifted to at-home consumption.

Key Industry Developments

1. In 2020, Nestle announced the launch of a new range of halal-certified products in Indonesia.
2. In 2020, Cargill announced plans to expand its halal-certified product range in the Middle East.
3. In 2021, Halal Industry Development Corporation (HDC) announced plans to collaborate with Malaysian companies to expand the halal food and beverages market in the Middle East.

Analyst Suggestions

Industry analysts suggest that companies operating in the halal food and beverages market should  focus on expanding their product portfolios and increasing their market share in the halal food and beverages market. This can be achieved through innovation, strategic partnerships, and investments in marketing and distribution.

Companies should also focus on obtaining halal certification for their products, as this is a key requirement for products to be considered halal. Companies should work to streamline the halal certification process and promote standardization in certification criteria.

Future Outlook

The halal food and beverages market is expected to continue growing in the coming years, driven by the increasing Muslim population and rising awareness about the health and ethical benefits of halal food and beverages. The market is also expected to be driven by the growing popularity of halal food and beverages among non-Muslims and the increasing demand for halal food and beverages in emerging markets.

Companies operating in the market are expected to focus on expanding their product portfolios and increasing their market share, particularly in the processed food and beverages segment. Companies are also expected to invest in online sales channels to reach a wider audience.

Conclusion

The halal food and beverages market is a rapidly growing market, driven by the increasing Muslim population and rising awareness about the health and ethical benefits of halal food and beverages. The market is highly fragmented, with a large number of small and medium-sized enterprises operating in the market.

The market is expected to continue growing in the coming years, driven by several key trends and developments, including the increasing demand for halal food and beverages among non-Muslims and the growing popularity of online sales channels.