Europe Halal Food Market size is set to grow by USD 48.1 bn from 2023-2027,Rising muslim population in Europe boost the market- Technavio

NEW YORK, March 19, 2024 /PRNewswire/ -- The global halal food market in Europe size is estimated to grow by USD 48.1 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 4.42% during the forecast period. The European region experiences a burgeoning halal food market, fueled by the expanding Muslim population's demand for adherence to Islamic dietary guidelines. Innovative halal products, health-focused selections, and exotic culinary creations dominate the retail landscape. Specialty stores, restaurants, and online platforms cater to this niche market. Halal certification is crucial for food manufacturers and distributors, ensuring hygiene, reliability, and access to retail channels. The beverage market also benefits from these trends, with e-commerce platforms and even some kosher businesses expanding their offerings. Unusual flavor combinations add to the allure of this growing sector.

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Key Company

Halal Food Market in Europe  is fragmented ; the companies are competing with competitors and are trying to get greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major companies have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products. Halal Food Market in Europe report includes information on the product launches, sustainability, and prospects of leading vendors including AMALRIC SAS, Barry Callebaut AG, Bilal Chicken Centre B.V., BRF SA, Cargill Inc., Carrefour SA, Ferrero International S.A., Flying Trade Group, KQF FOODS, Krispy Kreme Inc., Nestle SA, Raj Foods Ltd., Tahira Foods Ltd., Tariq Halal Meats, Unilever PLC .

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Key benefits for Companies

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players.
• Data is qualitatively analyzed to categorize vendors as pure play, category focused, industry focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. Expand operations in the future.

Research Analyst Overview

The Halal Food Market in Europe has experienced significant growth in recent years, with a increasing number of consumers seeking out Halal certified products. This market caters to the needs of the Muslim population in Europe, as well as those who follow a Halal diet for ethical or health reasons. The Substances Committee of the European Union has set guidelines for Halal certification, ensuring that all Halal certified products meet strict standards. Producers and retailers in Europe, such as Cosmetics, Perfumes, and Hygiene, Producers, Food Producers, and Consumers, have responded to this demand by offering a wide range of Halal certified products. These products include meat, dairy, and processed foods, as well as cosmetics and personal care items. The production process for these items must adhere to Halal principles, including the use of Halal certified ingredients and the avoidance of alcohol and pork. The Skincare, Cosmetics, and Personal Care sector has also seen growth in the Halal Food Market in Europe, with an increasing number of brands offering Halal certified products. Markets in countries like France, Germany, and the UK have shown particular growth in this area. Overall, the Halal Food Market in Europe is a diverse and expanding market, catering to the needs of a growing consumer base. It is an important sector for both European and international businesses, and is expected to continue growing in the coming years.

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Market Sizing

The European halal food market witnesses continuous growth, driven by manufacturers catering to the value chain of raw materials, product developments, and finished product packaging. Halal cuisine, marked with a religious symbol, prioritizes safety and adherence to Islamic law. The United Kingdom, with a significant Muslim population, dominates the market, particularly in the meat product segment. Halal-certified meat products, including those from cows, lambs, and poultry, are closely monitored by committees like the Halal Monitoring Committee. Seafood, excluding crocodiles, alligators, and frogs, is generally considered halal. Marketing efforts include social media advertisements, emphasizing the importance of halal certification and adherence to Islamic laws. The poultry market experiences substantial growth due to increasing consumer awareness and demand for halal-certified products.

Market Segmentation by Product

The European halal food market, particularly the halal Meat and Poultry Segment (MPS), experiences robust growth. Driven by expanding Muslim population and non-Muslim consumers' preference for halal as a symbol of food safety and ethical sourcing, this sector focuses on halal-certified chicken and other poultry. Major retailers, including Tesco, Sainsbury's, Marks & Spencer, and Waitrose, have responded by expanding their halal offerings in various retail formats, such as bakery, confectionery, cereals, snacks, and fresh meat sections. Regulatory frameworks in countries like the UK and Germany facilitate the growth of this market.

Geographic Landscape

The European halal market, driven by regulations and consumer preferences, has experienced notable expansion in 2022. With a growing Muslim population and increasing demand for halal-certified products, this sector encompasses skincare, haircare, cosmetics, perfumes, and hygiene products. Halal certification ensures adherence to Islamic principles, such as prohibited substances. Diversification and continuous innovation have led to new product categories, including flavor profiles and packaging ideas, catering to the evolving needs of consumers. Food producers have responded by introducing halal-certified offerings, contributing to market expansion and the creation of new business opportunities.

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio