The global halal food & beverage market size is
expected to reach USD 739.59 billion by 2025, according to a new report by
Grand View Research, Inc. The global halal food industry is expected to witness
significant growth over the forecast period owing to increasing Muslim
population and their substantially increasing expenditure on food &
non-beverages, which is considered as the main driving force of this market.
The total Islamic population is expected to increase from 23% in the present
situation to around 30% of the total world population by 2030.
World over initiatives has been seen
escalating since the last few years with the advent of few events in Asia
Pacific and the Middle East & African region, which are the top two regions
contributing to the growth of the global market. A major bilateral initiative
to mention would be the cooperation between Abu Dhabi and South Korea, which
allowed South Korea to gain further access to the global halal food market.
Governments of the Islamic as well as the
non-Islamic nations and the manufacturers of halal-certified food products have
been taking various initiatives in terms of marketing & educating consumers
about these products. The confidence of consumers in halal brands has been the
most influential factor in the actual purchase of these products.
Meat and alternatives were the largest
product segment in 2016 with a net market worth of over USD 590 billion
globally. Halal meat has always been a remarkable business segment. The
formation of Organization of Islamic Cooperation (OIC) has been well placed to
take the initiative of setting an international standard for these food items.
Owing to the formation of these types of organizational figures the industry
participants have been successful to a great extent in building consumer trust
and pushing penetration of the product category to even higher levels.
Access Research Report of Halal Food Market@ https://www.grandviewresearch.com/industry-analysis/halal-food-market
Further key findings from the report suggest:
· The global halal food market was
valued at USD 436.8 billion in 2016 and is estimated to grow at a CAGR of 6.1%
over the next eight years
· Milk & milk products such as processed
milk, cheese, and yogurt are expected to be one of the another primary product
segment driving growth for the global industry
· Beverages such as carbonated drinks,
packaged juice, and sweeteners with halal certification are expected to witness
substantial demand over the forecast period. The segment is estimated to grow
at a CAGR of over 4.9% in Turkey.
· Asia Pacific was the leading consumer in
2016. Around 63% of the global Muslim population resides in this region, which
is the main driving factor in the region. Indonesia and Malaysia together
accounted for over 55% of the regional demand in 2016.
· Major companies actively operating in the
global halal food industry include Nestlé, Glanbia Cheese Ltd, Guenther
Bakeries UK Ltd, Kellogg’s
· Companies have been trying to strengthen
consumer trust with several marketing campaigns trying to be transparent about
their production process of packed halal foods
Grand View Research has segmented the
global halal food market on the basis of product and region:
Halal Food & Beverage Product Outlook
(USD Million, 2014 - 2025)
·
Halal Meat & Alternatives
·
Halal Milk & Milk Products
·
Halal Fruits & Vegetables
·
Halal Grain Products
·
Other Halal Food & Beverage Products
Halal Food & Beverage Regional
Outlook (Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Turkey
o
Russia
o
Germany
o
UK
·
Asia Pacific
o
Indonesia
o
Malaysia
o
Pakistan
o
India
·
Middle East & Africa
o
Egypt
o
Saudi Arabia
o
Nigeria
o
UAE
·
Central & South America (CSA)
o
Brazil
About Grand View Research
Grand View Research,
Inc. is a U.S. based market research and consulting company, registered in the
State of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
