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HomeBusinessGlobal Halal Food Market Set to Reach $4.18 Trillion by 2028

Global Halal Food Market Set to Reach $4.18 Trillion by 2028

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

The global halal food market reached a significant value of US$2.22 trillion in 2022. Looking ahead, the market is projected to grow to US$4.18 trillion by 2028, with a compound annual growth rate (CAGR) of 10.8% during the forecast period of 2023-2028. Halal food refers to food prepared in accordance with Islamic dietary laws, which prohibit the use of certain ingredients such as human- or animal-derived substances and genetically modified organisms (GMOs). Halal food is considered ethical, safe, less likely to be contaminated, and beneficial for metabolism due to its exclusion of pork, alcohol, intoxicants, and unhygienic content. It is cleaned, stored, and packaged using halal-certified materials and equipment.

The primary driver of the global halal food market is the increasing population of Muslims who adhere to Islamic dietary laws as part of their faith. The market has also been boosted by strict regulatory frameworks that mandate halal labeling and certification standards for food and beverages. Moreover, the growing awareness of the advantages of halal food products among non-Muslim communities has contributed to the rising demand. These benefits include safety, hygiene, enhanced taste, high nutritional value, and meat free from stress hormones.

Leading companies in the industry are introducing value-added food items such as hot dogs, soups, burgers, candies, sandwiches, cookies, creams, and pizzas, which are gaining popularity among consumers. The availability of halal food and beverages through various e-commerce channels has also fueled market growth. The IMARC Group report provides a detailed analysis of the competitive landscape, highlighting top halal food manufacturing companies such as 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.

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