Halal Meat Market to Reach US$ 301,190 Million, Driven at a Robust CAGR of 3.6% during Forecast Period of 2024-20230 | The Market Reports

February 28
05:12 2024
Halal Meat Market to Reach US$ 301,190 Million, Driven at a Robust CAGR of 3.6% during Forecast Period of 2024-20230 | The Market Reports
Halal Meat Market Poised to Surpass US$ 301,190 Million by 2030, Fueled by Growing Muslim Population and Demand for Quality Meat Products
The Halal Meat Market is expected to achieve a valuation of US$ 301,190 million by 2030, demonstrating a remarkable Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period from 2024 to 2030. Factors such as the growing Muslim population, increasing awareness about halal dietary practices, and rising demand for high-quality meat products are driving market growth.

Synopsis

Halal meat refers to meat that is prepared and produced following Islamic dietary laws, as outlined in the Quran. In Islamic tradition, halal (meaning “permissible” in Arabic) meat must meet specific criteria to be considered lawful and fit for consumption by Muslims. Some key requirements for halal meat include:Slaughter Method: The most crucial aspect of halal meat is the method of slaughter. The animal must be slaughtered by a Muslim person of sound mind, using a sharp knife, and reciting the name of Allah (“Bismillah”) before the slaughter. The animal should be slaughtered swiftly and humanely, severing the main arteries and ensuring the animal experiences minimal pain.

Animals Permissible for Consumption: Islam permits the consumption of certain animals, while others are prohibited (haram). For example, halal meat can come from cattle, sheep, goats, chicken, and fish, while pork and its by-products are strictly forbidden.

Health and Hygiene: The animal should be healthy and disease-free at the time of slaughter. Any animal that is dead before slaughter (carrion) or that dies due to causes other than slaughter is considered impure and not halal.

No Blood or Blood By-products: Islamic dietary laws prohibit the consumption of blood, so the animal’s blood must be drained completely during the slaughter process.

No Alcohol or Intoxicants in Feed: Animals should not be given feed containing any intoxicating substances, such as alcohol or prohibited drugs.

The global Halal Meat Market was valued at US$ 236560 million in 2023 and is anticipated to reach US$ 301190 million by 2030, witnessing a CAGR of 3.6% during the forecast period 2024-2030.

The halal meat market is a significant and growing segment of the global food industry, driven primarily by the Muslim population’s dietary preferences and increasing awareness of halal products among non-Muslim consumers. Key factors contributing to the growth of the halal meat market include:Growing Muslim Population: The global Muslim population is increasing, driving higher demand for halal products, including halal meat, in various countries.

Rise in Halal Certification: Increasingly, consumers seek assurance that the meat they consume is genuinely halal. As a result, the halal certification process has become more prevalent, providing consumers with confidence in the authenticity of the halal label.

Diverse Consumer Base: The market for halal meat extends beyond Muslim consumers. Non-Muslims are also showing interest in halal products, perceiving them as healthier, ethically produced, or of higher quality.

Globalization and International Trade: The globalization of food markets and the ease of international trade have enabled the widespread distribution of halal meat products to cater to the dietary needs of Muslim populations worldwide.

Increased Halal Food Standards and Regulations: Many countries have introduced halal food standards and regulations to ensure the integrity of halal products. This has led to the development of clear guidelines and certification processes for halal meat production.

Ethical and Animal Welfare Concerns: Some consumers opt for halal meat due to the perception that halal slaughter methods are more humane and ethical.

The halal meat market is not limited to Muslim-majority countries; it has expanded to encompass regions with diverse populations, such as Europe, North America, and parts of Asia. As the halal food industry gains recognition and importance in the global market, the demand for halal meat is expected to continue growing, presenting opportunities for food producers and retailers to meet the needs of Muslim consumers and tap into the wider halal market.

This report aims to provide a comprehensive presentation of the global market for Halal Meat, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Halal Meat.

Report Scope

The Halal Meat market size, estimations, and forecasts are provided in terms of sales volume (K MT) and revenue ($ millions), considering 2023 as the base year, with history and forecast data for the period from 2019 to 2030. This report segments the global Halal Meat market comprehensively. Regional market sizes, concerning products by Type, by Application, and by players, are also provided. 

For a more in-depth understanding of the market, the report provides profiles of the competitive landscape, key competitors, and their respective market ranks. The report also discusses technological trends and new product developments.

The report will help the Halal Meat manufacturers, new entrants, and industry chain related companies in this market with information on the revenues, sales volume, and average price for the overall market and the sub-segments across the different segments, by company, by Type, by Application, and by regions.

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Market Segmentation

By Company

  • Al Islami Foods
  • BRF
  • Banvitaş
  • Namet Gida
  • Nema Food Company
  • Tyson Foods
  • Henan Yisai
  • China Haoyue Group
  • Arman Group
  • Hebei Kangyuan Islamic Food
  • Tangshan Falide Muslim Food
  • JBS
  • Alliance Group
  • Silver Fern Farms
  • Irish Country Meats
  • Kildare Chilling
  • Marfrig
  • Wammco
  • Fortune Ng Fung Food
  • Xinjiang Tianshan Animal

 

Segment by Type

  • Pourtry
  • Mutton
  • Beef
  • Others

 

Segment by Application

  • Fresh Food
  • Processed Food

 

Consumption by Region

  • North America (United States, Canada)
  • Europe (Germany, France, U.K., Italy, Russia, Nordic Countries, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Australia, Rest of Asia)
  • Latin America (Mexico, Brazil, Rest of Latin America)
  • Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of MEA)

 

Chapter Outline

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, by Type, by Application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: Detailed analysis of Halal Meat manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 3: Sales, revenue of Halal Meat in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 4: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 5: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 6: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.

Chapter 7: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 8: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.

Chapter 9: The main points and conclusions of the report.

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Halal Food and Drink Market: https://www.themarketreports.com/report/global-halal-food-and-drink-market-research-report

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