Halal Food, Beverage Market Set for Significant Growth

The global halal food and beverage market was valued at approximately $2.3 trillion in 2022 and is expected to reach around $7.5 trillion by 2032, reflecting a compound annual growth rate (CAGR) of 12.4% from 2023 to 2032, a report by openPR reported.

This market is experiencing robust growth, primarily driven by the increasing global Muslim population and a rising demand for products that meet halal standards. Halal products are increasingly viewed not only as religiously compliant but also as synonymous with quality, hygiene, and ethical production, attracting a wider consumer base.

Key segments contributing to the market’s expansion include meat and alternatives, dairy products, and beverages. The Asia-Pacific region held the largest market share in 2022, indicating significant growth potential. The rise of halal certification bodies and the expansion of distribution channels, including supermarkets and online platforms, have improved product accessibility.

Despite this growth, challenges remain, such as differing certification standards across regions. Efforts toward standardization are essential to maintain consumer trust and ensure sustained market growth.