The global halal logistics market size is anticipated to reach USD 525.09 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.4% from 2020 to 2027. Over the last few years, the demand for halal-certified products has extended beyond the Muslim community and is gaining increasing acceptance among non-Muslim consumers who relate halal with ethical consumerism and high-quality products. Therefore, the increasing demand for halal products worldwide is driving the need for halal logistics. Halal logistics providers are rigorously ensuring that the people involved in the supply chain understand the technical requirements and regulatory aspects to deliver halal products to the markets safely.
Strict
regulations and standard guidelines are set by the Muslim community in
countries such as Malaysia, Indonesia, and Singapore, among others for
slaughtering and halal certification. For instance, Majlis Ugama Islam
Singapura (MUIS), an authorized body governing Singapore's Muslim affairs,
under the Administration of Muslim Law Act (AMLA), is entrusted with the sole
legal rights to issue Halal certificates in Singapore. Furthermore, Section 88A
of the AMLA act specifies the guidelines for the issuance of halal certificates
as well as regulate the holders of halal certificates to comply with the
requirements of the Muslim law. Halal logistics service providers are focusing
on gaining the certification from concerned local authorities, and thereafter
striving to strengthen their service portfolio.
The
Middle East and Africa (MEA) accounted for a significant market share in 2019.
The region has a huge market for halal products. Factors such as rising per capita
income and huge Muslim population make the Middle East and Africa a lucrative
market for halal food and related services including halal logistics.
Saudi Arabia accounts for the largest market share. However, the increasing
population has forced Saudi Arabia to depend on its imports for halal food.
However, over the past few years, malpractice of meat exports into the Middle
Eastern countries have created serious matter over the legality of halal
products imported from non-Muslim countries. This has put a severe strain on
halal logistic service providers to ensure the products transported and stored
comply with the laid halal-standards and guidelines.
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Halal Logistics
Market Report Highlights
- The market is
anticipated to witness substantial growth during the forecast period due
to the growing Muslim population, increased spending on halal products,
and the increasing popularity of halal food products among the non-Muslim
population
- The storage component
segment led the market and accounted for the largest revenue share in
2019. This can be majorly attributed to the need and increasing focus on
separating halal and non-halal products during warehousing and
transportation to avoid contamination
- The food and
beverages end-use industry segment led the market and accounted for the
largest revenue share in 2019, owing to the standard guidelines laid by
the Muslim community for ensuring the integrity of halal food across
various modes of transportation and during warehousing
- The Asia
Pacific dominated the global market and accounted for over 49% revenue
share in 2019, owing to the rising Muslim population in the region. Also,
Indonesia, which has the largest retail sales value for soft drinks with
the halal label in the region, is expected to contribute significantly to
the regional market growth
- Some of the
prominent market players in the market include Nippon Express, TIBA Group,
MASkargo, Yusen Logistics Co., Ltd., and TASCO Berhad
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Halal Logistics
Market Segmentation
Grand View Research has
segmented the global halal logistics market based on component, end-use
industry, and region:
Halal Logistics
Component Outlook (Revenue, USD Billion, 2016 - 2027)
- Storage
- Warehouse
- Container
- Transportation
- Maritime Logistics
- Air Logistics
- Land Logistics
- Monitoring Components
- Hardware
- Sensors
- RFID Devices
- Telematics
- Networking Devices
- Software
- Services
- Installation & Integration
- Support and Maintenance
Halal Logistics
End-use Industry Outlook (Revenue, USD Billion, 2016 - 2027)
- Food and Beverages
- Pharmaceuticals
- Cosmetic/ Personal Care
- Chemicals
- Others
Halal Logistics
Regional Outlook (Revenue, USD Billion, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Turkey
- Russia
- Asia Pacific
- China
- India
- Malaysia
- Indonesia
- Oceania
- South America
- Brazil
- Middle East & Africa
- UAE
- Saudi Arabia
- Egypt
List of Key
Players of Halal Logistics Market
- Nippon Express
- TIBA Group
- YUSEN LOGISTICS CO., LTD.
- TASCO Berhad
- Kontena Nasional BHD (KNB)
- MASkargo
- SEJUNG SHIPPING CO., LTD.
- DB Schenker
- Al Furqan Shipping & Logistics LLC
- Northport (Malaysia) BHD
- HALA
- Freight Management Holdings Berhad
- HAVI
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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