Name: the halal meat market
Brand: Businesscoot
Price: 89 EUR
Availability: InStock

INFORMATION ON THE STUDY

Price: 89€ HT
Last update: 03/01/2022
Language: English
Category: Agriculture, Food, Foodstuffs
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Content of the study

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MARKET OVERVIEW

1.1 Definition and scope of study

The word “Halal” refers to all that is permissible in terms of behavior, language, attire, and nutrition in Islamic culture, with a special focus on meat from animals slain according to several principles; meat must adhere to much tougher and more stringent regulations, according to Islamic law's core principles. Beginning with how the meat is butchered, there are a number of principles to follow. In this regard, meat must be prepared in accordance with specific principles, such as ensuring the animal's wellbeing until its sacrifice, killing animals while they are still alive, and minimizing unnecessary pain. One of the most essential considerations is animal welfare. It is also what gives the Islamic faith its greatest credit, as it is founded on a genuine regard for the animal and its dignity until death. Pig meat is forbidden.

The total value of Halal Food Global Market was worth USD 1,9 Trillion in 2020, of which, Halal meat represents one of the greatest percentage. The Halal food market is expected to grow at a CAGR of 11,3%, expecting to reach USD 3,6 Trillion in 2024.

There are about 4 million Muslim consumers in the Italian halal sector; by 2026, there will be 230 million Muslim visitors in the world, and Italy, as one of the most popular tourist destinations, would be affected. The development possibilities are intriguing, allowing us to look forward to the expansion of the Italian industrial fabric and the potential to enter new foreign markets with confidence. Indeed, exports to the Islamic world are growing in importance, and halal certification, when paired with the Made in Italy mark, is a good qualification for addressing emerging markets, providing a boost to Italy's internationalization efforts.

Importantly, halal food goods in general include confectionary, canned and frozen foods, dairy products, organically labeled products, and prepared and take-away foods, as a result of young Muslims' changing lifestyles. New technology, both of production and tracking, have also made it feasible to produce halal goods in food, medicines, and cosmetics that were previously impossible to make due to residues of alcohol or pig jelly. In Italy, many meat companies are Halal certified. The meat is often sold in specialized butchers' shops and is also beginning to be found on the shelves of popular supermarkets.