Halal Food Market Size & Share, by Product Type (Meat Products, Dairy Products, Cereals & Grain); Distribution Channel (Hypermarkets, Supermarkets, Convenience Stores, E-commerce, Specialty Store) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

Growth Drivers

• Demand for plant-based halal goods - Many companies have started selling plant-based halal foods for consumers who do not prefer meat-based halal food and want to choose a more environment-friendly option. This demand is increasing among both vegans and vegetarians, eventually boosting the halal food market. Additionally, plant-based meat is also widely preferred by consumers since it is healthy and derived from plants. As per a recent report, the global plant-based food sector is estimated to surpass USD 70 Billion by 2025.
   
• Muslim tourists promoting halal food - The increasing demand for halal-certified food and beverages is not country-specific. These days, many restaurants and hotels are offering halal cuisine to meet the demands of the Muslim community.
  
  These also include Muslim tourist demand who seek halal food and that’s why major tourist spots are providing halal dining alternatives, which showcase a beautiful cross-culture culinary exchange among different countries along with growing the local economies. The global Muslim tourist sector is expected to surpass 200 Million by 2028.
   
• Initiatives by the government to promote halal-certified products - Governments worldwide are constantly pushing efforts to raise awareness about the usage of halal-certified products for a healthy lifestyle since halal food is not parted based on Muslim and non-Muslim consumers.
  
  The 9^th halal summit and 1oth halal expo fair were held in Istanbul in November 2023 where, Turkish President Erdogan sent a video message for Organization of Islamic Cooperation (OIC) members to join the Islamic Standards and Metrology Institute to clear disputes circulating halal certification.

Challenges

• Lack of clarity about halal products - The absence of clarity in the identification of halal goods confuses consumers and they end up purchasing haram products instead of halal as many manufacturers are also not aware of what ingredients halal products constitute.
   
• High cost associated with halal certification - For accomplishing halal certification, the manufacturer has to pay high process prices which is also a major hindrance to the growth of the market.