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Global market value of halal food 2017-2023

Market value of halal foods worldwide from 2017 to 2023 (in trillion U.S. dollars)

by M. Shahbandeh, last edited Jun 29, 2018
Global market value of halal food 2017-2023 This statistic shows the market value of halal food worldwide in 2017 and provides a forecast for 2018 to 2023. According to the report, halal foods had a global market value of approximately 1.4 trillion U.S. dollars in 2017 and are expected to reach 2.6 trillion U.S. dollars in 2023.
Halal products - additional information

Halal is an Arabic word for “permissible” and is often used to refer to food and drink which are acceptable for Muslims to consume under the Islamic law. It specifies which food products are allowed, and how to prepare them. For instance, halal animals include goats, sheep, cows, and chicken. Pork is considered “haram” or forbidden. According to the Koran, the proper method of slaughtering halal animals involves killing through a cut to the jugular vein, carotid artery and windpipe. This process is called “dhabihah”. At the time of slaughter, animals have to be alive and healthy, and then the blood is drained from the carcass. In addition to that, the ritual has several terms to be fulfilled — for example, the butcher must be Muslim.

According to the Pew Research Center, Muslims accounted for approximately 23 percent of the total population worldwide in 2010. That year, Indonesia topped the list of countries with the largest number of Muslims. Furthermore, Muslims were the only major religious group projected to grow faster than the global population as a whole. As a consequence, there is a growing market for halal products. In 2016, the global market value of halal products amounted to approximately 45.3 billion U.S. dollars and is expected to increase by roughly 29 percent in 2020.
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Market value of halal foods worldwide from 2017 to 2023 (in trillion U.S. dollars)

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