Halal Logistics is defined as the process of managing the procurement, movement, storage & handling of materials parts livestock and finished inventory both food & non-food through the supply chain. The increase in Muslim population increased spending on halal products, and the increasing trade of halal food across the globe is expected to accelerate the global halal logistics market growth.
The increase in disposable income of Muslim consumers has increased significantly from past few years owing to better education and job opportunities & much younger population as capered to any other religion across the world. In the year 2018, Muslim consumers spent around US$ 2 trillion on halal & Islamic lifestyle. The concept of halal is associated with food products, which are high in terms of sanitation, cleanliness quality & compliance with religious requirements. Thus, halal logistics is the process of managing the transportation of food products across the supply chain complying with the Halal standards implemented.
The increase in number of affluent Islamists, the halal industry has expanded beyond halal food into various lifestyle offerings including halal fashion, hospitality, and travel services, and others. This expansion has been triggered by the change in mindset of both Islamic & non-Islamic consumers across the globe will positively influence the market growth.
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Lack of uniformity of halal standards in different nations is a major restraining factor which is expected to hamper the global halal logistics market growth during this forecast period.
Halal Logistics Market Segmentation
The Global Halal Logistics Market is segmented into components such as Storage, Transportation, and Monitoring Components (Hardware, Software, and services). Further, market is segmented into end use industry such as Food and Beverages, Chemicals, Cosmetic / Personal Care, Pharmaceuticals, and Others.
Also, the Global Halal Logistics Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The APAC dominated the global market and is forecasted is remain the largest revenue contributing regional market during this forecast period. The migration of the Muslim population from Muslim-dominated nations to China, India & Southeast Asian countries is one of the major reasons responsible for the increase in the Muslim population in this region.
Market key Players
Some key players are discussed in this report such as Nippon Express, TIBA Group, Freight Management Holdings Berhad, Al Furqan Shipping & Logistics LLC, DB Schenker, SEJUNG SHIPPING CO., LTD., Kontena Nasional BHD, TASCO Berhad, YUSEN LOGISTICS CO., LTD. , HALA, etc.
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