Halal Logistics Market to Surpass US$ 528.2 Billion at a CAGR of 5.1% by 2033: Fact.MR Report

The ever-growing demand for Halal-certified food products is expected to boost the growth of the halal logistics market during the forecast period

Rockville , Sept. 25, 2023 (GLOBE NEWSWIRE) — As per Fact.MR, a provider of market research and competitive intelligence, the global Halal Logistics Market is anticipated to grow at a CAGR of 5.1% and reach a value of US $528.2 Bn by the end of 2033.

Halal logistics is a way of handling, storing, and transporting goods in line with Islamic principles. This ensures that products remain in compliance with Islamic dietary laws from production to consumption. Halal logistics offers several advantages compared to other systems. It builds trust with Muslim consumers, as they know the products that they buy meet their religious requirements. It also reduces the risk of contamination with non-halal items, maintains a transparent supply chain, and opens new markets for businesses.

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Key Segments of Halal Logistics Industry Research Report

The growth of the halal logistics market is mainly powered by the increasing global Muslim population, which creates a rising demand for products adhering to Islamic dietary and ethical guidelines. Additionally, heightened awareness and scrutiny regarding halal certification and compliance, both from consumers and regulatory bodies, are spurring businesses to invest in specialized halal logistics solutions.

Key Takeaways:

• Market share of Halal Product Storage is around 60% in 2023. Moreover, the market share of the food & beverages sector is around 46%
• GCC countries’ market growth rate is expected to be around 5.2% CAGR during the forecast period.

The expanding global Muslim population, heightened scrutiny of halal certification, and the growing international trade in halal products are the factors driving the growth of halal logistics market – Says Fact.MR Expert

Market Competition

Leading companies are strategically emphasizing pricing strategies, quality control, adherence to product standards, innovation, and efficient supply chain management to enhance their market presence in a competitive and evolving landscape. Among others, notable companies in the halal logistics sector are Nippon Express, TIBA Group, MASkargo, Yusen Logistics Co., Ltd., and TASCO Berhad.

• In March 2021, Nippon Express introduced a halal air cargo service in Japan as an extension of its Express Hi-Speed domestic air transport offerings, catering to the logistical needs of approximately 200,000 Muslims residing in Japan.
• In April 2021, dnata, a leading air services provider, achieved ISO 9001:2015 certification for its cargo handling services, earning special recognition for halal certification from Majlis Ugama Islam Singapura (MUIS). This certification specifically applies to the dedicated storage room within its Coolchain facility.

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Winning strategies

• In this industry, conducting comprehensive market research plays a pivotal role in shaping business strategies and operations. This process involves a systematic gathering and analysis of data related to consumer preferences, demands, and overarching trends within the halal sector. By delving into this information, companies can gain valuable insights into what specific products and services are in high demand.
• In the halal logistics sector, investing in top-notch cold storage and transportation technology is crucial. This ensures that perishable halal products, like fresh meats and dairy, stay in great condition and comply with halal standards. It builds trust with consumers and helps businesses succeed in this specialized market.
• A primary focus for prominent players should be on acquiring and upholding halal certifications. These certifications are essential for adhering to the religious and cultural norms associated with halal products.

Market Valuation and Growth Drivers in GCC Countries

In the year 2023, the market in GCC Countries boasts a substantial valuation of US$ 75.8 billion. This notable market value can be attributed to the substantial Muslim population within the GCC Countries and their strong preference for processes certified as halal, resulting in significant revenue generation. Furthermore, the upward trajectory in disposable income and the rapid growth of the halal food sector further contribute to the impressive market growth.

The burgeoning demand for innovative halal products is creating a host of new business opportunities for producers in the food and beverages sector. This surge in demand is expected to drive a significant expansion of the market within GCC Countries. Moreover, service providers operating within these nations are offering their services through seaports, all of which have received the coveted halal certification, further bolstering the market’s growth potential.

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