Global Halal Food Market Analysis, Size, Share, Growth and Forecasts Report by Hexa Research

Hexa Research
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Muslim population which make up about a quarter of the global population and is expected to
rise can be considered as the key growth factor for the Halal food market. The rise in the
median age in countries with Muslim majority is anticipated to lead to an increased demand for
a diverse range of Halal products and services which meet their lifestyle aspirations as well as
their faith. Increasing disposable income among the Muslim population is expected to fuel
demand for differentiated and new Halal food. Religious values in addition to Islam tenets to
maintain self-respect and integrity, to safeguard future generations and to preserve life are
expected to drive growth. Economic development in countries with large Muslim population
coupled with a younger demographic in majorly Muslim populated countries makes this industry
a growing one. The growing concern about unhealthy and unhygienic food is expected to shift
the preference of Muslim as well as non-Muslim population towards Halal food and thus, the
demand is likely to rise. Additionally, a certain degree of acculturation, respect for animal
welfare and health concerns are also expected to be major drivers.
Nonfood Halal Market opportunities are also expected to rise owing to factors such as the
presence of alcoholic substances or products derived from animals in cosmetics and personal
care, rise in demand for Halal pharma and healthcare products and rise in Halal tourism which
includes umrah, hajj, and pilgrimage. Other growth factors include the commercial potential for
Muslim women’s clothing line that is in accordance with religious sentiments and rise in Halal
logistics which preserves the integrity of the product from the farm to the table of the
consumers.
The lack of a single unified global Halal standard might dampen the industry growth. Various
countries have different certification standards owing to the existence of various Halal
authorities which in turn leads to high supply chain cycle time and hinders product development.
Maintenance of Halal integrity throughout its supply chain is expected to pose a major challenge
with the rise in physical contamination of food products and fraudulent Halal certifications.
Shortage of skilled workers in the Halal industry restricts production efficiency as well as
innovation, thereby posing major challenges to the growth over the forecasted period.
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