Halal food is referred to a wide array of edible products especially meat and poultry that are produced or manufactured with adherence to the Islamic dietary laws. These food items should not contain any sort of ingredients that are forbidden in the Islamic culture such as alcohol, gelatin, bacon, lipase, vanilla extract, rennet, and pepsin, among others. Moreover, the Islamic law also states that any animal or poultry meant for consumption should be alive and healthy in time of slaughter and must be killed by cutting through their carotid artery, jugular vein, and windpipe. Following which, the blood should be drained from the carcass.
The halal logistics is the process of managing the transportation of products across the supply chain in compliance with the Halal standards implemented.
The rising Muslim population has increased spending on halal products, and the rising trade of halal food worldwide is collectively contributing to the growth. Also, the purchasing power of Muslim consumers has increased significantly over the past few years because of the better education and job opportunities.
The halal logistics market is valued at USD 337.19 billion in 2022 and is projected to reach a value of USD 642.86 billion in 2030 expanding at a CAGR of 8.4% over the forecast period of 2022-2030.es of service providers operating in the halal industry.
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One of the major factor that has boosted the market growth over the forecast period is the rise in the number of affluent Islamists. This has resulted in the expansion of the halal market into various lifestyle offerings such as halal fashion, hospitality, and travel services, among others. This expansion has been triggered by the changing mind set of both Islamic and non-Islamic consumers worldwide. Thus, with the rise in the number of non-Muslim consumers from diverse religious beliefs and races preferring halal-certified products, the demand for halal products is not restricted to the Muslim population anymore.
Another major factor that has fuelled the market growth is the growing trade of halal food worldwide. This is because of the purchasing power of Muslim consumers has increased significantly over the past few years because of better education and job opportunities, and a much younger population as compared to any other religion worldwide. This has boosted the market growth over the forecast period.
Halal Logistics Market: Segmental Analysis Of The Market
Based on Component
o Storage
- Warehouse
- Container
o Transportation
- Maritime Logistics
- Air Logistics
- Land Logistics
o Monitoring Components
- Hardware
- Sensors
- RFID Devices
- Telematics
- Networking Devices
- Software
- Services (Installation Integration; Support and Maintenance)
The storage segment has dominated the market growth over the forecast period. This is because of the rising need to sort and separate halal and non-halal products in warehousing and during transportation activities to avoid any possible contaminations. The storage segment is further segmented into warehouse, and container. The warehouse sub-segment accounted for the largest share and has dominated the market growth.
Based on End-Use Industry
- Food and Beverages
- Pharmaceuticals
- Cosmetic / Personal Care
- Chemicals
- Others
The food and beverage segment has dominated the market growth over the forecast period. This is because of the rapid growth in the Muslim population coupled with the growing popularity of halal food products among the non-Muslim population. Initially, halal food products were consumed only by the Muslim population.
Halal Logistics Market- Geographical Analysis Of The Market
The halal logistics market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, Asia Pacific has dominated the regional segment of the market. This is because of the migration of the Muslim population from Muslim-dominated nations to India, China, and Southeast Asian countries is one of the major reasons responsible for the rise in the Muslim population in the region. With a significant rise in the number of Muslims in the region, the demand for halal food products has also increased, which, in turn, is driving the need for halal logistics.
Halal Logistics Market: Competitive Landscape
Some of the prominent companies operating in the market are Nippon Express; TIBA Group; MASkargo; YUSEN LOGISTICS CO., LTD.; TASCO Berhad.
Key Questions Answered In The Report:
- What is the growth rate projection of Halal Logistics Market?
- What are the major growth determinants of Halal Logistics Market?
- What are the major segments constituting the Halal Logistics Market?
- Which is the fastest growing region in Halal Logistics Market?
- Which are the top companies operating in Halal Logistics Market?
Key Takeaways From The Report:
- The Halal Logistics Capsules Market is slated to amplify at a CAGR of 8.4% over the forecast period of 2022-2030.
- The rise in the number of affluent Islamists has boosted the market growth.
- The major segments include-component, end-use industry, and region
- Asia Pacific is anticipated to amplify at a considerable CAGR over the forecast period.
- The top companies include- Nippon Express; TIBA Group; MASkargo; YUSEN LOGISTICS CO., LTD.; TASCO Berhad.
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