Rapid Advancements In Halal Logistics Market To Fuel Revenues Through 2022 – 2032 : Fact.MR

Worldwide, the Muslim population has been growing at nearly 2% each year, nearly double the growth of the overall global population. This has been consequently adding revenues to the products and services designed under the periphery of Islamic laws. According to a State of the Global Economy report, the Muslim population is expected to spend US$ 3 Tn by 2021, up from US$ 1.9 Tn in 2015. In the U.S. alone, Muslims have a disposable income of US$ 110 Bn. These statistics indicate a favourable market for halal logistics.

As per a new report published by Fact.MR, the global halal logistics market is anticipated to exceed a valuation of US$ 280 Bn by 2021, and is expected to expand at an impressive CAGR of close to 9% over the forecast period of 2021 to 2031.

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Key Segments Covered

  • By Component
    • Storage
      • Warehouses
      • Containers
    • Transportation
      • Maritime Halal Logistics
      • Air Halal Logistics
      • Land Halal Logistics
    • Monitoring Components
      • Hardware
    • Sensors
    • RFID Devices
    • Telematics
    • Networking Devices
      • Software
      • Services
    • Installation and Integration
    • Support & Maintenance
  • By Vertical
    • Halal Food and Beverage Logistics
    • Halal Pharmaceutical Logistics
    • Halal Personal Care & Cosmetics Logistics
    • Halal Chemicals Logistics
    • Others
  • By Region
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • MEA

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Competitive Landscape

Majority of the companies discussed in the report have focused on establishing subsidiaries in developing regions. Strategies include product launches, collaborations with key players, partnerships, and mergers and acquisitions. Some of the key developments are:

  • In April 2021, dnata, a provider of air services, received ISO 9001:2015 certification for cargo handling services, including an award for halal certification by Majlis Ugama Islam Singapura (MUIS). This certification is offered for its special storage room in its Coolchain facility.
  • In March 2021, Nippon Express launched halal air cargo in Japan for its domestic cargo transport services. This service will be linked to its Express Hi-Speed domestic air cargo transport service and will provide logistics services to around 200,000 Muslims in Japan.
  • In September 2019, after receiving MS2400-halal certification from Jakim, MASkargo launched its halal monitoring components and services. This certification is expected to enable the company to offer services such as storage, transportation, and handling of food as well as non-food products.

Key Takeaways from Market Study

  • In 2020, South Asia and East Asia together accounted for over 50% revenue of the global market.
  • The market in the Middle East and Africa is estimated to expand over threefold from 2021 and 2031.
  • The storage segment accounted for nearly 60% of market revenue.
  • The market generated over US$ 168 Bn revenue from food & beverage end use.
  • The halal logistics market is moderately concentrated, where companies such as Nippon Express, TIBA Group, MASkargo, Yusen Logistics Co., Ltd., and TASCO Berhad account for a majority of the market share.

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For More Insight- https://www.globenewswire.com/en/news-release/2022/08/03/2491323/0/en/High-Need-to-Transport-Specimens-Safely-Leading-to-Increased-Automated-Blood-Tube-Labeler-Specimen-Transport-Box-Usage-Fact-MR-Analysis.html

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