GCC Halal Food Market to Surpass US$ 76.2 Billion at a CAGR
IMARC Group has recently released a new research study titled “GCC Halal Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The GCC halal food market size reached US$ 60.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 76.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.01% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Halal food represents a category of food items and beverages prepared according to the Islamic dietary law. As per the guidelines, the consumption of animals that are dead before slaughtering or not slaughtered in the name of Allah, pork by-products, alcohol, etc. is prohibited or considered haram. Also, these food products are packaged and stored in utensils that are cleaned following the Islamic rules. Some of the commonly consumed halal food products include poultry, meat, seafood, oil and fats, fruits and vegetables, dairy products, confectionery, etc.
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GCC Halal Food Market Trends:
The wide presence of the Muslim population who abide by the Islamic Shariah norms in the GCC region is primarily driving the market for halal food items. Moreover, the growing number of stringent regulatory frameworks for mandating halal certification is further strengthening the market growth. Besides this, the rising awareness towards food safety, hygiene, and reliability of these products among the Muslim and non-Muslim population in the region is also augmenting the demand for halal food items. Additionally, the expanding food retail sector and the increasing availability of halal food and beverages across multiple distribution channels are further bolstering the market growth. Besides this, several international brands are diversifying their product portfolios to cater to the religious beliefs of their regional consumers, thereby is expected to propel the market growth across GCC countries during the forecast period.
GCC Halal Food Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Al Islami Foods
Al Kabeer Group ME
Al Rawdah Foods
BRF Global (Sadia Halal), Nestle S.A.
Podravka Gulf FZE
JM Foods LLC
American Halal Company Inc. (Saffron Road)
Seara Foods Middle East.
The report has segmented the market on the basis on country, product type, distribution channel.
Breakup by Product Type:
Meat, Poultry & Seafood
Fruits & Vegetables
Cereals & Grains
Oil, Fats & Waxes
Breakup by Distribution Channel:
Supermarkets & Hypermarkets
Breakup by Country:
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This release was published on openPR.