New York, United States, Sept. 08, 2022 (GLOBE NEWSWIRE) -- halal meat is the meat slaughtered lawfully as indicated in the Quran. The market study entails market estimates and forecasts of the fresh as well as processed meat slaughtered lawfully from chicken, cows, buffalo sheep, goat, camel, rabbit, and Turkey. The halal meat market offers a range of compelling opportunities. Fascinatingly, in recent years, this progression has been driven not by Muslim-majority countries, but also by the multicultural populations of Southeast Asia and the Muslim migrations of Europe and North America.
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Market Drivers
The rising need for new market opportunities at both the national and corporate level, coupled with increasing consumer awareness, has propelled the market growth. Nowadays, halal food outlets and offerings are established all across the world. Furthermore, merging of values with the natural-food movement and other eco-ethical initiatives has created a growing crossover opportunity for halal offerings to appeal to other niche markets within mainstream markets. With large numbers of the Islamic population and the growth of the economy, the demand for halal meat is increasing.
Report Scope
| Report Metric | Details |
| Market Size | USD 375.05 Billion by 2030 |
| CAGR | 7.1% (2022-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Regions |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Amana Foods Co., Al Islami Foods, Tariq Halal, Tahira Foods Ltd., Noories, SIS Company, Al Kabeer Group ME, Prairie Halal Foods, Neema Foods Company, Thomas International |
| Key Market Opportunities | Good Hygiene Practices to Offer Numerous Opportunities for Market Growth |
| Key Market Drivers | Shariah Law to be a Driving Factor for the Global Halal Meat Market Growth |
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Regional Overview
It is anticipated that technological advancement and investment in the global halal industry will increase its market concentration. On account of this, manufacturers are aiming to develop highly pure and good taste halal meat. For instance, France’s new halal food testing technologies (pork test) and the halal detection Nano-sensor technology kit in Malaysia have upheld halal standards and quality. Manufacturing firms operating in this market are expanding their operations to capture the untapped market in emerging economies. For example, Al Islamic Foods, a halal food manufacturer based in Dubai, opened a new halal food factory in Brazil in 2016. Also, the firm entered into a strategic partnership with Mitsubishi Corporation to aid business growth and drive international expansion in April 2018.
New-fangled Halal industry segments protecting the integrity of the entire Halal value chain are appearing to important. Implementing blockchain technologies will help to resolve challenges regarding transparency in meat production, product traceability, and maintaining food health. For instance, in October 2019, Korea Telecom planned to develop a regional Halalal food traceability blockchain. According to the company, the program will streamline the identification of halal goods, which must be processed according to Islamic law. The telecommunications firm will collaborate with B-square Lab and the Korea Muslim Federation, with plans to include international halal verification groups. Block-chain will also assist in the production and registration of halal food goods, removing fake halal products, and enhancing customer trust. Blockchain adoption will be one of the key developments in the halal food industry that will have a positive influence on halal meat market growth
Market Highlights
- The global halal meat market size was worth USD 202 billion in 2021. It is estimated to reach an expected value of USD 375.05 billion by 2030, growing at a CAGR of 7.1% during the forecast period (2022–2030).
- Growing Islamic population, rising preference for quality halal meat among the non-Islamic population, rising spending on halal meat, and growing halal tourism sectors are collectively driving the demand for halal meat.
- In the product types segment, in terms of revenue, poultry accounted for the highest revenue share of 32.7% in 2019, and the mutton segment is expected to grow with a CAGR of 7.5% during the forecast period.
- In the application segment, processed food accounted for the largest revenue share of 62.5%, owing to the comparatively higher prices of processed food than fresh food. However, in terms of the consumption volume, the share of fresh food is more and can be estimated at 93,464.01 K-Tons.
- Regionally, Asia-Pacific is the largest consumer of halal meat. Asia-Pacific halal meat market was valued at USD 199,416 million in 2019 and is expected to continue its dominance over the market period, reaching USD 273,535 million in 2025.
List of Top Key Halal Meat Manufacturers
- Amana Foods Co.
- Al Islami Foods
- Tariq Halal
- Tahira Foods Ltd.
- Noories
- SIS Company
- Al Kabeer Group ME
- Prairie Halal Foods
- Neema Foods Company
- Thomas International
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Market Segmentation
By Product Type
- Poultry
- Meat
- Beef
- Others (Camel, Turkey, and Rabbit)
By Applications
- Fresh Food
- Processed Food
By Region
- North America
- Europe
- Asia Pacific
- Central, South America, and Caribbean
- Middle East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Executive Summary
4 Market Overview
4.1 Report Segmentation & Scope
4.2 Value Chain Analysis: Halal Meat Market
4.2.1 Vendor Matrix
4.3 Key Market Trends
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.4 Porter’s Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Environment & Regulatory Landscape
4.6 Forecast Factors & Relevance of Impact
4.7 Macro-Economic & Geopolitical Scenario
4.8 Parent Market Overview
4.9 Technology Landscape
4.10 Market Share Analysis
4.11 Potential Venture Analysis
4.12 Regional Price Trends
4.13 Raw Material Trends
4.14 Cost Structure Analysis
4.14.1 Labor Cost
4.14.2 Consumables
4.14.3 Maintenance Cost
4.15 Covid-19 Impact Analysis:
4.15.1 Pre and Post Covid-19 Market Scenario Analysis
4.15.2 Market Recovery Timeline and Challenge
4.15.3 Measures Taken by Top Players
4.15.4 Quarterly Market Revenue and Growth Forecast till 2021
4.15.4.1 North America
4.15.4.2 Europe
4.15.4.3 Asia-Pacific
4.15.4.4 Central and South America and the Caribbean
4.15.4.5 The Middle East and Africa
5 Product Type Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value & Volume)
5.2 Fresh Food
5.2.1 Market Size & Forecast (Value & Volume)
5.3 Processed Food
5.3.1 Market Size & Forecast (Value & Volume)
6 Regional Overview
6.1 Introduction
6.1.1 Market Size & Forecast (Value & Volume)
6.2 North America
6.2.1 Economic Overview
6.2.2 Market Scenario
6.2.3 U.S.
6.2.4 Canada
6.2.5 Mexico
6.3 Central and South America and the Caribbean
6.3.1 Economic Overview
6.3.2 Market Scenario
6.3.3 Brazil
6.3.4 Argentina
6.3.5 Colombia
6.3.6 Rest of Central and South America and the Caribbean
6.4 Europe
6.4.1 Economic Overview
6.4.2 Market Scenario
6.4.3 Germany
6.4.4 France
6.4.5 The U.K.
6.4.6 Italy
6.4.7 The Rest Of Europe
6.5 Asia-Pacific (APAC)
6.5.1 Economic Overview
6.5.2 Market Scenario
6.5.3 China
6.5.4 Japan
6.5.5 India
6.5.6 Australia
6.5.7 South Korea
6.5.8 Rest Of APAC
6.6 Middle East
6.6.1 Economic Overview
6.6.2 Market Scenario
6.6.3 South Arabia
6.6.4 The UAE
6.6.5 Qatar
6.6.6 Oman
6.6.7 Turkey
6.6.8 The Rest Of Middle East
6.7 Africa
6.7.1 Economic Overview
6.7.2 Market Scenario
6.7.3 Nigeria
6.7.4 South Africa
6.7.5 The Rest Of Africa
7 Competitive Landscape — Manufacturers & Suppliers
7.1 Competition Dashboard
7.2 Industry Structure
7.3 Amana Foods Co.
7.3.1 Business Overview
7.3.2 Financial Performance
7.3.3 Recent Developments
7.3.4 Portfolio
7.4 Al Islami Foods
7.5 Tariq Halal
7.6 Tahira Foods Ltd.
7.7 Noories
7.8 SIS Company
7.9 Al Kabeer Group ME
7.10 Prairie Halal Foods
7.11 Neema Foods Company
7.12 Thomas International
8 Conclusion & Recommendation
9 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/halal-meat-market/toc
News Media
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