According to a new report by Expert Market Research, ‘Global Halal Food Market Size, Share, Price, Trends, Report and Forecast 2020-2025’, the halal food market size has the potential to grow by $624.52 billion during 2020-2025, and the market’s growth momentum will accelerate during the forecast period.
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Competitive Landscape & Supplier Analysis:
Halal food refers to the food products that are prepared by following Islamic dietary laws & regulations, which defines foods that are lawful or permissible and clean. Muslims community consumers avoid food & beverages that are Haram, meaning forbidden or unlawful by their Islamic faith. According to Islamic principal, halal foods are safe and does not contain any non-halal or unclean ingredients in it. Also, they are prepared by using equipment that is clean. Halal foods do not contain alcohol, broth, gelatin, ham, bacon, pork, L-cysteine, Lipase, mono and diglycerides, pepsin, rennet, sodium stearoyl-lactylate, vanilla extract, and whey in any kind of food items such as grain products, vegetables & fruits, beverages, milk & milk products, desserts and other food products. However, vanilla in powdered form and whey prepared with microbial enzymes can be used in halal foods. A lot of emphasis is made on food hygiene & safety. For instance, for preparing halal meat animals are not treated with any antibiotics, hormones, and preservatives that are very commonly used for producing meat and are slaughtered as per the Islamic dietary law. Halal foods offer several health benefits to the consumers such as improved brain and metabolic function and improved immune system. This drives the growth of the halal food market.
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The global halal food market is segmented by product type, by sales channels and by region. By product type the global halal food market is segmented into, cereal based food products, fruits and vegetables, milk and dairy products and meat, poultry and seafood products. The cereal based food products covers, rice, pastas and all other grains which are halal certified. The fruits and vegetable segment can be further sub-segmented into, canned fruits and vegetables, frozen fruits and vegetable products, raw fruits and vegetables products and others. Halal food products are prepared as per Islamic laws and are free of any pork products, alcohol and other ingredients which is creating immense demand for such products across the globe. Furthermore, the milk and dairy products segment is sub-segmented into, cheese, yogurt, ice-cream and desserts, and other segments. All these products are made with bacterial cultures but without animal rennet. By sales channel the global halal food products market is segmented into, supermarkets and hypermarkets, convenience stores, specialty stores, e-Commerce and other retail formats.
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The halal food and beverage market is expected to continue to build its momentum across the global supply chain. The most prominent testimony to this fast-growing nourishment segment is that it remains almost constant in terms of its traditional ideas in spite of minimal differences across different cultures and geography. Hence, this sector is expected to become a major source of growth in both Islamic and even non-Islamic economies.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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