Halal food market to reach USD 3 trillion in 2024

Halal food market to reach USD 3 trillion in 2024

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According to a new report by Research and Markets, the global halal food market reached a value of USD 1.6 trillion in 2018. It will almost double, reaching USD 2.9 trillion by 2024.

Benefits associated with the consumption of halal food are driving this market forth.  These are increasing the consumption and acceptance of halal food among non-Islamic communities.
Moreover, food producers have been offering a wide variety of halal food to consumers which has been positively stimulating the growth of the market. The consumption of such food items is also increasing due to a surge in the Muslim population worldwide. 

Region-wise, the market has been segregated into Asia-Pacific, Middle East & Africa, Europe, North America and Latin America. Among these, Asia-Pacific is the leading market, accounting for the majority of the market share.

The competitive landscape of the market has also been examined with some of the key players being Al Islami Foods, BRF, Nestle, QL Foods, Saffron Road Food, Dagang Halal, Janan Meat, Kawan Foods, Cargill, Al-Falah Halal Foods, Prima Agri-Products, Tahira Food, etc.

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