Halal Beef Market

Halal Beef Market

Global Industry Analysis (2018 - 2021) - Growth Trends and Market Forecast (2022 - 2029)

Published Date: Upcoming | Format:

Industry: Food & Beverage | Author Name: Mohit

Rapidly Growing Preference to Halal Beef Around the Globe Add fuel to the Halal Beef Market

Demand for halal beef has been steadily increasing worldwide over the past few years. This is due to a growing number of people incorporating halal certified food into their diets, particularly in countries such as Malaysia, Indonesia and Thailand where limited British beef exports have caused a shift in demand from non-halal markets to halal markets.

This increase in demand for halal certified products can be attributed to a variety of factors. It seems that many consumers are becoming more aware of the benefits offered by certification methods. The perception attached to these methods is also important in this context with a strong understanding contributing towards consumer choice when considering which product, they would prefer to buy. In addition, there are other driving factors involved which are set to increase demand further in the coming years. These factors include growing consumer expenditure on food, changing lifestyles and the rise of middle-class populations in developing countries.

Process Halal Beef Poised to Drive Halal Beef Market Due to Growing Popularity

Today's society leads a fast-paced lifestyle filled with work, school, family and other activities. Wherein, it can be hard to find the time for cooking. As more people choose not to cook or perhaps don't know how (who says cooking is hard?), less halal beef is being consumed at meals eaten at home. Increasingly more of the beef that people eat come from dining out. Furthering the effects of this increase in demand for processed food containing halal beef will be the population that needs "easy" foods like hamburgers or tacos (Iacobucci).

Dining out has been a large source of beef consumption for many individuals. Fast food restaurants have been increasing the marketing and availability of halal beef products to meet this higher demand for beef in processed foods. Fast-food chains, such as "Arby's", "Chick-fil -A", and "Kentucky Fried Chicken" now offer menus that include halal options. Restaurants are not the only one catering to this growing market, as grocery stores are starting to do so as well. In recent years, Kroger has expanded their selection of frozen halal meat products by adding more brand names from which consumers can choose from.

Rising Demand for Fast Food to Offer Lucrative Growth Opportunity for Halal Beef Market Players

Rising demand for fast food among young consumers is also expected to boost halal meat consumption. As per a survey, 66% of respondents aged between 11 and 30 expressed an intention to purchase local halal-certified food products from a retail outlet or restaurant that displays the halal logo on its packaging. With this, more firms are expected to enter the market with innovative value propositions such as organic ingredients, free-range production methods, high quality produce from Japan and Australia, cooking methods such as baking rather than frying or grilling and gluten-free recipes.

Therefore, there lies a great opportunity for local manufacturers/sellers to tap further into this halal beef market as the current proportion of local produce being exported overseas is still very low. Thus, it would be more beneficial for firms who have yet to establish their presence locally but have the capability and expertise in exporting halal meats to take advantage of this opportunity before others do.

As with many industries, key success factors lie with the players in halal beef market. For halal meat producers, it is crucial that they maintain their quality standards and hygiene practices in order to compete in this competitive industry. Furthermore, for import/export agencies dealing with halal meats, it would be beneficial for them to form strategic partnerships with reputable overseas halal meat suppliers so as to better ensure the supply of high-quality goods for local consumers. It is vital that both manufacturers and importers/exporters continue to adopt innovative marketing strategies in order to reach out not only to Muslim customers but also non-Muslim customers too who are becoming increasingly health conscious.

Asia to be Key Exporter and Consumer in Global Halal Beef Market

More than 100 million animals are killed for halal beef every year around the world. The beef industry in Asia is vast and ever-expanding, with beef consumption steadily on the rise, and production having expanded twelve times since 1965. The beef industry in Asia operates at a global level: importing beef from Latin America and exporting beef to the Middle East and North Africa.

Beef is considered as one of the most desired meats across Asian regions; often it is regarded as symbol of wealth, power and prestige. In Indonesia, people eat beef as part of their daily meal. Many countries such as Malaysia, Singapore or Thailand take into account religious matters (halal) when they determine which animals count as fit for human consumption; beef produced according to halal standards takes up a significant of beef trade in those countries.

China, India and Australia are major exporters of beef to the global halal beef market. Wherein, China is holding the prominent position. There is an increase in average yearly export growth rates over the last decade due to increasing demand from the GCC countries market which consumes more than 60% of China's total exported beef.  China, India and Australia are major beef producers, China accounting for 32% of the world herd followed by India (25%) and Australia (20%). China is also a major consumer of halal beef having highest per capita beef consumption in the World. China's per capita annual beef consumption has risen from 3kg in 1960 to 40kg now.

Global Halal Beef Market: Key Players

Some of the key players in the global halal beef market are Carrefour SA, Isla Delice, Nestlé S.A., Tesco plc, Casino Service Processing, Reghalal, Tariq Halal, Pure Ingredients, Amana Foods, and HebeiKangyuan Islamic Food Co., Ltd.

Key Elements Included In The Study: Global Halal Beef Market

  • Halal Beef Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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