Halal Foods and Beverages Market, Growth Rate, Trends, Analysis, Future Scope, Forecast To 2030
Market Overview
The global halal foods & beverages market is projected to grow at a CAGR of 7.5% during the forecast period of 2019–2024.
Market Dynamics
Halal food and beverages are becoming increasingly popular around the world as people become more aware of the benefits of halal-certified foods. This increase in market size can be ascribed to rising consumer spending on halal food as well as the expansion of halal food manufacturing facilities. The health benefits offered by halal food items are continuously impacting people's eating patterns, driving the expansion of the global halal food & beverages market. As a result, both Islamic and non-Islamic groups have increased their consumption and acceptance of halal food. Furthermore, food producers have been providing consumers with a diverse range of halal foods, which has boosted the market's growth.
Furthermore, the advancement of food technology has created additional space for frozen food producers. Furthermore, during the forecast period, the rising growth of the organized retail industry is expected to be one of the major drivers driving the halal food and beverage products market. Consumers prefer to shop at supermarkets and hypermarkets rather than traditional grocery stores.
However, the market for halal foods and drinks may be hampered by the availability of low-cost alternatives and the high cost of halal products throughout the forecast period.
Segmental Analysis
Type, category, packaging, and distribution channel are the segments that make up the global halal foods and drinks market.
Bakery & confectionary, beverages, sweet & savoury snacks, dairy & frozen desserts, meat & meat products, oils & fats, and others are the different type-wise segments. In the global halal foods & beverages market, the meat, poultry, and seafood category owns the most market share, and the same segment is predicted to develop at the fastest rate.
The market is divided into fresh, frozen, and other categories based on the type. The fresh segment, in particular, is a market leader.
The market is divided into glass, metal, plastic, paper, and other categories based on the packaging. The plastic sub-segment dominates the market among all packaging segments.
The market is divided into two categories based on the distribution channel: store-based and non-store-based. Based on the one-stop shopping experience, the store-based distribution channel is dominating the market.
Regional Analysis
Furthermore, the United States controls the market for us halal foods inc in North America. In the North American area, shifting consumer preferences toward halal products and rising demand for meat products are expected to enhance the halal foods & beverages market throughout the forecast period. Furthermore, the primary essential players are actively participating in the product's research and development for improved functionality.
During the year 2019–2024, Asia-Pacific is predicted to be the fastest-growing region. The region's expansion can be due to rising consumer awareness of halal-certified foods. The largest consumers of halal food and drinks are China and Pakistan, which is projected to drive market growth throughout the forecast period. Due to the greatest Islamic population in regions such as the Middle East and Africa, the rest of the world maintains its supremacy in the worldwide halal food and beverage sector.
Competitive Dynamics
American Halal Company, Inc. (US), Cleone Foods Ltd. (UK), Nestle S.A. (Switzerland), Al Islami Foods (The UAE), BRF S.A. (Brazil), QL Foods Sdn. Bhd. (Malaysia), Nema Food Company (US), Beijing Shunxin Agriculture Co., Ltd. (China), Namet Gıda San. Ve Tic. Inc. (Turkey), Midamar Corporation (US), Tahira Foods Ltd (UK), are some of the key players in the global halal foods & beverages market.
NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited), 99 Hudson Street,5Th Floor, New York, New York 10013, United States of America
Email: sales@marketresearchfuture.com
English
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian