Halal Food Market estimated to grow at a CAGR 5.94% to reach US$2,047.163 billion by 2025, from US$1,448.094 billion in 2019
Halal Food is the food that is deemed to be permissible for consumption within the Muslim communities and countries. Halal food is prepared according to Islamic law, which has been defined in the Quran. Halal law is applied to the Food and Beverage sector.
According to the report, the Halal Food Market is projected to increase at a CAGR of 5.94% over the forecast period 2019-2025.
Strict Measures for labeling the different food and beverages
There are strict measures in place for the labeling of the food products that have been prepared to adhere to the Halal law, to be labeled as ‘’HALAL” clearly so that the consumers can be made aware, is making the manufacturers aware of using the proper labels in order to cater to the demand of Halal food and Beverages effectively.
Increasing participation of the market players in catering to the demand for Halal foods in order to solidify their market position and propel the market growth
There are different market players that are taking steps in order to solidify their position in the market to increase their market share and boost the overall market growth. For example, M&S Food technologists and the product development team are launching their range of Halal based product in a partnership with HFA, Morrison’s is launching a Halal based Ramadan’s essential box in the UK, among others.
Online sales gaining traction among the individuals
By distribution channel, the online channel is estimated to witness significant growth over the forecast period. This is attributable to the fact that, the trend of purchasing foot items and beverages online such as meat products, confectionery products among others in gaming traction rapidly among the younger and middle-aged population and is being facilitated by the surging popularity of e-retail and e-commerce channels. This is due to the fact that they are able to provide lucrative discounts, save time, and provide convenience from ordering from the comfort of individuals’ homes.
Rising Consumption of Halal Meat in the Countries of the Middle East
Geographically, Middle Eastern and African region is expected to hold a substantial amount of share, on account of the rising number of individuals demanding Halal products. In addition, the surging consumption of meat in the Gulf counties by the Muslim individuals, which is majorly attributable to the rising disposable incomes that are leading to more sending power among the low-income and middle-income individuals, is also is causing the demand of Halal meat product to surge and contributing to the market share of this region.
The major players covered as part of the report areCargill, Incorporated, Al Islami Foods, QL Resources Sdn Bhd, Unilever, Nestlé, Danisco, Halal Fine Foods, and American Foods Group, LLC among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-halal-food-market
This report has segmented the Halal Food market on the basis following terms
By Product Type
- Meat, Poultry & Seafood
- Dairy Products
By Distribution Channel
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
- North America
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