Halal is an Arabic term which translates literally to “permissible" and refers to a set of rules in Islam dictating permissible and forbidden activities, often involving food and drink. As Islam is the second largest religion in the world, the halal product market is expected to grow from USD 45.3 billion in 2016 to over USD 58.3 billion by 2022. The largest sector of the global halal industry is Islamic finance (43 percent), followed by halal food (36 percent).
The global market revenue of halal food is projected to rise from about USD 1.25 trillion in 2016 to about USD 2.57 trillion in 2024, with the largest share of the market value coming from North America. The biggest growth opportunities for the global halal market include branding them as healthy and organic production.
The leading importers of halal food are Saudi Arabia, Malaysia, and United Arab Emirates, with one of the most popular imported foods being beef. Brazil was the top exporter of halal meat, followed by Australia and India.
WHY THIS IS VALUABLE
IMPORTANT KEY FIGURES
Average food expenditures in United States Asian Households
Share of Americans Who Want a Good Selection of Ethnic Foods in Their Primary Grocery Store
Share of Canadians Who Eat Ethnic Food Regularly
Share of United States Chefs That Consider Regional Ethnic Cuisine a Hot Trend
COMPARABLE DOMAINS SOLD
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