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In this report, LP Information covers the present scenario (with the base year being 2017) and the growth prospects of global Halal Food market for 2018-2023.
The Arabic word for "permitted." Halal is commonly seen as "Halal" which means food that is permitted under Islamic guidelines as found in the Qu'ran Most food and drinks are considered Halal unless they are clearly stated as forbidden in the Qur'an (holy book of Islam) and hadith (prophetic traditions).
The halal industry is based on a belief that Muslims should eat food and use goods such as cosmetics that are "halalan toyibban", which means permissible and wholesome. In fact, the halal market is non-exclusive to Muslims, and has gained increasing acceptance among non- Muslim consumers who associate halal with ethical consumerism.
Actually, the halal industry has now expanded beyond the food sector to include pharmaceuticals, cosmetics, health products, toiletries and medical devices as well as service sector components such as logistics, marketing, print and electronic media, packaging, branding, and financing. In addition, the halal food marketplace is emerging as one of the most profitable and influential market arenas in the world food business today.
In consumption market, the global consumption value of halal food increases with the 8.14% average growth rate. East Asia and Middle East & North Africa are the mainly consumption regions due to the bigger demand of downstream applications. In 2015, these two regions occupied 56.83% of the global consumption volume in total.
Halal food has mainly three types, which include fresh products, frozen salty products, processed products and others. With large number of Islam population and economy development, the consumers will need more halal food products. So, halal food has a huge market potential in the future. Manufacturers engaged in the industry are trying to produce high purity and good taste halal food through improving technology.
The major raw materials for halal food are fresh meat, food seasoning, packing materials and other additives. Fluctuations in the price of the upstream product will impact on the production cost of halal food, and then impact the price of halal food. The production cost of halal food is also an important factor which could impact the price of halal food. The halal food manufacturers are trying to reduce production cost by developing production method.
Over the next five years, LPI(LP Information) projects that Halal Food will register a 6.1% CAGR in terms of revenue, reach US$ 1630 million by 2023, from US$ 1140 million in 2017.
This report presents a comprehensive overview, market shares, and growth opportunities of Halal Food market by product type, application, key manufacturers and key regions.
To calculate the market size, LP Information considers value and volume generated from the sales of the following segments:
Segmentation by product type:
- Fresh Products
- Frozen Salty Products
- Processed Products
Segmentation by application:
This report also splits the market by region:
- - United States
- - Canada
- - Mexico
- - Brazil
- - China
- - Japan
- - Korea
- - Southeast Asia
- - India
- - Australia
- - Germany
- - France
- - UK
- - Italy
- - Russia
- - Spain
- Middle East & Africa
- - Egypt
- - South Africa
- - Israel
- - Turkey
- - GCC Countries
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report:
- Nema Food Company
- Namet Gida
- Banvit Meat and Poultry
- Isla Delice
- Al Islami Foods
- Kawan Foods
- QL Foods
- Ramly Food Processing
- China Haoyue Group
- Arman Group
- Hebei Kangyuan Islamic Food
- Tangshan Falide Muslim Food
- Allanasons Pvt
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
- To study and analyze the global Halal Food consumption (value & volume) by key regions/countries, product type and application, history data from 2013 to 2017, and forecast to 2023.
- To understand the structure of Halal Food market by identifying its various subsegments.
- Focuses on the key global Halal Food manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the Halal Food with respect to individual growth trends, future prospects, and their contribution to the total market.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- To project the consumption of Halal Food submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.