The Global Halal Products Market is estimated to be valued at US$ 879.6 Bn in 2022 and is expected to exhibit a CAGR of 12.80% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Halal Products Market comprises various products that are permissible and adhere to the Islamic dietary laws. These products are consumed by the Muslim population worldwide. Halal food and beverages, cosmetics, pharmaceuticals, and personal care products are some of the key products associated with this market. The market is witnessing significant demand due to the increasing Muslim population and their preference for Halal-certified products. Additionally, the growing trend of ethical consumerism and increasing awareness about the benefits of halal products among non-Muslim consumers are further driving the market growth.
Market Dynamics:
The growing Muslim population is a major driver for the Halal Products Market. Muslims constitute a significant portion of the global population and their demand for Halal-certified products is increasing. Furthermore, the rising disposable incomes of the Muslim population, particularly in emerging economies, are boosting the market growth.
Another driver is the increasing awareness and acceptance of halal products among non-Muslim consumers. As consumers become more conscious about the source and quality of the products they consume, the demand for halal products is expanding beyond the Muslim population. The perception that halal products are of superior quality and are produced in a responsible and ethical manner is driving the demand among non-Muslim consumers.
Read More : https://cmiorientedreportblog.blogspot.com/2023/10/halal-products-market-to-reach-us-8796.html
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