The global halal food market reached a value of US$ 1.4 Trillion in 2017
The growth of the global halal food market is being primarily driven by health benefits offered by halal food items which is continuously influencing the eating patterns of people. This has resulted in an increase in 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. This, in turn, has significantly bolstered the growth of the market.
Looking forward, the market value is projected to reach US$ 2.6 Trillion by 2023, exhibiting a CAGR of more than 11% during 2018-2023.
Based on the distribution channel, the market has been segmented into traditional retailers, supermarkets & hypermarkets and online.
On the basis of product, the major segments covered include meat; poultry & seafood; fruits & vegetables; dairy products, cereals & grains; oil, fats and waxes; confectionery; etc.
The competitive landscape of the market has also been examined with some of the key players being