Halal Food Market Hits USD 2,545.9 Billion Mark in 2023, Forecasts Show USD 5,243 Billion by 2030

Explore the Global Halal Food Market, projected to reach USD 5,243 billion by 2030 with a CAGR of 9.6% (2024-30). Discover key drivers, and challenges.

NEW HAVEN, CONNECTICUT, USA, August 27, 2024 /EINPresswire.com/ -- The Global Halal Food Market size was valued at USD 2,545.9 billion in 2023 and is projected to reach USD 5,243 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 9.6% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The cultural norm to only consume halal-certified food products for the Islamic belief population across the globe has been the key driver contributing to the market growth. The widespread presence of Muslim communities and Islamic cultures across the globe is sustaining the demand for halal food products all around the world. Also, the increasing immigration of Muslim communities in Western countries and their surging influence on other communities through their delicacies is growing the demand for halal food products in the market.

In addition, the increasing halal tourism worldwide owing to growing religious travel is proliferating the demand for halal-certified food products. Muslims visiting other nations generate the demand for halal-certified stays, hotels, restaurants, etc., to suit their ethical considerations. This, in turn, increases the demand for food facilities offering halal food products. Apart from the Muslim population dominated nations like Saudi Arabia, the UAE, Malaysia, etc., other nations such as Brazil, Argentina, China, Taiwan, etc., are offering optimum requirements related to halal certification and boosting the halal tourism in their respective economies. As a result, the establishment of hotel chains, restaurants, and cafes serving halal food is generating more demand for halal food products & propelling market growth.