Halal Logistics Market Set to Witness an Uptick Growth by 2028 with Key Companies: TIBA, TASCO Berhad, DB Schenker
September 23, 2022
Halal logistics market report with COVID-19 impact analysis 2021-2028. The global market segmented by component, transport, end user and region.
PORTLAND, ORAGON, UNITED STATES, September 22, 2022 /EINPresswire.com/ -- Halal Logistics Market Outlook 2028 -
Logistics refers to movement of goods and information between recipient and provider. Logistics includes warehousing and transportation, which are undertaken by logistics providers to achieve efficient and effective delivery. Halal logistics is defined as the process of purchasing, moving, storing and processing raw materials, part of livestock and finished products (including food and non-food) through supply chain as per the halal standards. The halal industry has expanded beyond halal food into various lifestyle offerings including halal hospitality, fashion, and travel services. Rise in the Muslim population has increased spending on halal products and increase in global halal food trade is expected to accelerate growth of the global halal logistics market.
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COVID-19 Impact analysis
Coronavirus has affected the global food industry, leading to household quarantines and channel shifts, especially in markets facing supply chain disruptions, owing to lockdown measures. However, owing to non-contact manufacturing and delivery methods, focus on product packaging, and increase product presence on online platforms has helped the halal food and beverage market to retain its market share. The COVID-19 has developed new behavior among customers for consuming vegan and good quality of products. The halal pharmaceutical market has witnessed rise, owing to their strict regulations that medicines must not contain any portions of animals such as dogs, pigs, and ones mainly with sharp teeth, bugs (bees), liquor, and other substances prohibited as 'haram' under the Shariah law.
Top Impacting Factors
Increase in purchasing power of Muslim consumers and quality is a key factor accelerating the market growth.
Lack of uniformity of halal standards and regulation in different nations is a major factor expected to hamper the global halal logistics market growth
Increase in international trade activities in rising economies, rise in trade-related contracts, and worldwide logistics infrastructure, as well as development of information technology and transportation areas are opportunities for the halal logistics market.
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The automotive halal logistics market trends are as follows:
Halal standards and regulations
Strict regulations and standard guidelines are developed by Muslim communities around the world. For instance, Administration of Muslim Law Act (AMLA), is assigned with single legal rights to issue Halal certificates in Singapore. Section 88A of the AMLA act specifies guidelines for issuance of halal certificates and regulate holders of halal certificates to comply with requirements of the Muslim law. Halal logistics service providers are focusing on obtaining certification from relevant local authorities, and service providers can only get a certificate if certain conditions are met, which hinders growth of the halal logistics market. For instance, in September 2019, MAB Kargo launched its new halal logistics service after receiving the MS2400-halal certification from Jakim, and in December 2020, FGV Transport Services Sdn Bhd received the Jakim certification under the category of halal supply chain management system for transportation. Moreover, In September 2020, Nippon Express' NEX Logistics in Indonesia received the halal certification for Bekasi Logistics Center.
However, malpractice of export of meat to middle eastern countries has severely affected legality of halal products imported from non-Muslim countries. This puts severe pressure on halal logistics service providers to ensure that products transported and stored comply with established halal standards and guidelines. Further, lack of uniformity of halal standards and regulation in different countries is the main constraint, which is expected to hinder growth of the global halal logistics market.
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Key benefits of the report:
This study presents the analytical depiction of the halal logistics industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with challenges of the halal logistics market.
The current market is quantitatively analyzed from 2020 to 2028 to highlight the halal logistics market growth scenario.
The report provides a detailed halal logistics market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the halal logistics market research report:
Which are the leading market players active in the halal logistics market?
What would be the detailed impact of COVID-19 on the market?
What current trends would influence the market in the next few years?
What are the driving factors, restraints, and opportunities in the halal logistics market?
What are the projections for the future that would help in taking further strategic steps?
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Key Market Players
YUSEN LOGISTICS CO., LTD
Kontena Nasional Berhad
SEJUNG SHIPPING CO., LTD.
Al Furqan Shipping & Logistics LLC
Hala SCS Solutions.
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