According to the latest report by IMARC Group, titled “Halal Food Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global halal food market reached a value of US$ 1.9 Trillion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 11.3% during 2021-2026.
Halal food products refer to food items and beverages prepared by following the guidelines of the Islamic dietary law. According to this law, the consumption of several items, such as pork and its by-products, alcohol, animals not killed in the name of Allah or dead before slaughtering, etc., are considered ‘haram’ or forbidden. Furthermore, halal food products are also packaged and stored in containers that have been cleaned according to the rules of the Shariah law.
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The expanding Muslim population across the globe and the rising disposable income levels are contributing to the increasing consumption of meat. This is augmenting the demand for global halal certification of food products, thereby driving the market growth. Moreover, various manufacturers are also introducing numerous value-added food items, such as hot dogs, soups, burgers, cookies, etc., to expand their product portfolios, catering to the diverse tastes and preferences of the consumers. Additionally, the growing penetration of e-commerce platforms that offer easy and secured payment options along with a wide variety of halal-certified food products is further strengthening the market growth. Besides this, the increasing popularity of halal food as a mark of food hygiene and reliability, especially among the non-Muslim consumers, will continue to fuel the global market in the coming years.
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