According to the latest report by IMARC Group, titled “GCC Halal Food Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the GCC halal food market reached a value of US$ 58.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 73.7 Billion by 2027, exhibiting a CAGR of 4.1% during 2022-2027.
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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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
Breakup by Product Type:
- Meat, Poultry Seafood
- Fruits Vegetables
- Dairy Products
- Cereals Grains
- Oil, Fats Waxes
Breakup by Distribution Channel:
- Traditional Retailers
- Supermarkets Hypermarkets
Breakup by Country:
- Saudi Arabia
Competitive Landscape with Key Player:
- Al Islami Foods
- Al Kabeer Group ME
- Al Rawdah Foods
- Al-Falah Supermarket
- BRF Global (Sadia Halal)
- Nestle S.A
- Podravka Gulf FZE
- JM Foods LLC
- American Halal Company Inc. (Saffron Road)
- Seara Foods Middle East
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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