Report Overview
The Halal Meat Market is segmented by product, animal type, distribution channel, and region. By product, the market is segmented into poultry, beef, mutton, and others. Poultry is the largest segment of the halal meat market, accounting for a share of over 40% in 2021. This is due to the increasing consumption of poultry meat, especially chicken, among Muslims and non-Muslims alike. Beef is the second-largest segment of the market, followed by mutton.
The Global Halal Meat Market was valued at USD 265.9 Billion in 2022 and is expected to reach USD 723.7 Billion in 2032. Between 2023 and 2032, this market is estimated to register a CAGR of 9.7%.
Halal Meat Market Dynamics:
Economic Outlook:
- Increasing Muslim population: The global Muslim population is growing at a rapid pace, and this is expected to drive the demand for halal meat. The Muslim population is expected to reach 2.2 billion by 2030, up from 1.8 billion in 2020.
- Expansion of the halal food industry: The halal food industry is expanding rapidly, and this is creating new opportunities for the halal meat market. The halal food industry is worth an estimated USD 2.2 trillion, and it is expected to grow to USD 3.2 trillion by 2030.
- Rising demand for safe and hygienic food products: Consumers are increasingly demanding safe and hygienic food products, and halal meat is seen as a reliable option. Halal meat is slaughtered according to Islamic guidelines, which ensures that the animals are treated humanely and the meat is free from contamination.
- Growing awareness about the benefits of halal food: There is a growing awareness among consumers about the benefits of halal food, such as its safety and hygiene. Halal meat is seen as a more ethical and sustainable option than non-halal meat.
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Key Benefits for Stakeholders:
- Increased market share: The halal meat market is growing rapidly, and this presents an opportunity for businesses to increase their market share. By catering to the growing demand for halal meat, businesses can attract new customers and boost their profits.
- Increased compliance: Halal certification requires businesses to adhere to strict guidelines and standards. This can help businesses to improve their compliance with food safety regulations and avoid fines or penalties.
- Access to new markets: The halal meat market is not limited to Muslim-majority countries. There is a growing demand for halal meat in non-Muslim-majority countries, such as the United States and Europe. This presents an opportunity for businesses to expand into new markets and grow their business.
- Improved brand reputation: Halal meat is seen as a more ethical and sustainable option than non-halal meat. This means that businesses that sell halal meat can improve their brand reputation and attract more customers.
- Reduced risk of recalls: Halal meat is slaughtered according to strict Islamic guidelines, which ensures that the animals are treated humanely and the meat is free from contamination. This can help businesses to reduce the risk of recalls, which can damage their reputation and financial bottom line.
The Future Of Halal Meat Market:
- Increasing Muslim population: The global Muslim population is growing at a rapid pace, and this is expected to drive the demand for halal meat. The Muslim population is expected to reach 2.2 billion by 2030, up from 1.8 billion in 2020.
- Expansion of the halal food industry: The halal food industry is expanding rapidly, and this is creating new opportunities for the halal meat market. The halal food industry is worth an estimated USD 2.2 trillion, and it is expected to grow to USD 3.2 trillion by 2030.
- Rising demand for safe and hygienic food products: Consumers are increasingly demanding safe and hygienic food products, and halal meat is seen as a reliable option. Halal meat is slaughtered according to Islamic guidelines, which ensures that the animals are treated humanely and the meat is free from contamination.
- Growing awareness about the benefits of halal food: There is a growing awareness among consumers about the benefits of halal food, such as its safety and hygiene. Halal meat is seen as a more ethical and sustainable option than non-halal meat.
Technological innovations in Halal Meat Market:
- Gene editing: Gene editing techniques can be used to create halal meat products that are healthier and more sustainable. This is a promising area of research, but it is still in its early stages.
- Internet of Things (IoT): IoT devices can be used to monitor the conditions of animals and meat products. This can help to ensure that animals are treated humanely and that meat products are safe to eat.
- Artificial intelligence (AI): AI can be used to develop new ways to detect and identify non-halal products. This can help to ensure that halal meat products are not contaminated with non-halal ingredients.
- Blockchain: Blockchain is a distributed ledger technology that can be used to track and trace the movement of halal meat products. This can help to ensure that halal meat is produced and distributed in a safe and ethical manner.
- 3D printing: 3D printing can be used to create halal meat products that are customized to the individual consumer’s needs. This is a potential game-changer for the halal meat market, as it could make halal meat more accessible and affordable.
Key Market Segments
Based on Product
- Poultry
- Beef
- Sheep & Goat
- Others
Based on Type
- Fresh
- Processed
Distribution Channel
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
- Others
End-user
- Food Service
- Household
Market Key Players
- BRF Global
- Amana Foods
- Al Islami Foods
- Tariq Halal
- Tahira Foods Ltd
- SIS Company
- Al Kabeer Group ME
- Prairie Halal Foods
- Nema Halal
- Thomas International
- Al-Aqsa
- DOUX
- Herd & Grace
- Other Key Players
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