Halal Foods & Beverages Market research future insights:
Products that adhere to the tenets of Islamic Sharia Law are referred to as halal, both in terms of food and drink. The halal label guarantees that the animals were killed with a single cut, that they were bled completely, and that their flesh has not come into touch with the meat of other animals that have been killed in different ways, particularly pig. It is anticipated that the global market for halal foods and drinks would expand at a compound annual growth rate of 8.9% between the years 2022 and 2030. The growing knowledge among customers about the availability of halal-certified food is contributing to the rise in demand for halal foods and drinks around the world. This rise in market size is going to be due to the growing consumer expenditure on halal food as well as the expansion of facilities that produce halal food. The health advantages supplied by halal food products are the primary factor driving the expansion of the worldwide market for halal food and drinks. These benefits are continually impacting the eating patterns of people all over the world. It is generally agreed that halal meat is superior than non-halal meat in terms of both flavour and health, in addition to being more tender. This is because halal meat does not contain any blood, which prevents the growth of bacteria and gives it this benefit. As a direct consequence of this, both Islamic and non-Islamic groups have become more open to the idea of eating halal cuisine and increasing their consumption of it. In addition, food manufacturers have been providing customers with a broad selection of halal food options, which has contributed to the expansion of the industry in a constructive way.
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Analyses of the region:
During the years 2019–2024, analysts anticipate Asia-Pacific to be the area with the highest rate of economic expansion. The expansion of the region can be linked, at least in part, to the growing awareness among customers regarding halal-certified food. As a result of the fact that China and Pakistan are the most significant consumers of halal food and drinks, the market is anticipated to expand throughout the time period under consideration. However, the market in the rest of the globe continues to maintain its dominance in the worldwide market for halal food and drinks. This is due to the fact that the biggest percentage of Muslims live in countries such as the Middle East and Africa.
Market Segmentation
The global market for halal foods and drinks has been divided into distinct submarkets based on the categories of type, distribution channel, and geography. The global Halal Foods & Beverages Market has been segmented into several different types, including meat, poultry, and fish; sweet and savoury snacks; ready-to-eat and ready-to-drink meals; soups, sauces, and dressings; and others. In the worldwide market for halal foods and drinks, the sector that consists of meat, poultry, and seafood now maintains the most market share, and it is anticipated that this same segment will be the one that expands at the quickest rate. The global market for halal foods and drinks has been divided into two categories, store-based and non-store-based, according to the kind of distribution channel that is used. The store-based sector has been segmented even further into supermarkets and hypermarkets, convenience shops, and other types of retail establishments. It is anticipated that the revenue contribution of the store-based sector will constitute the greater proportion of the total market. On the other hand, throughout the period of forecasting that runs from 2022 to 2030, it is anticipated that the non-store-based category would have a greater growth rate. Research has been conducted on the global market for halal foods and drinks from the perspective of four important regions: North America, Europe, Asia-Pacific, and the rest of the world. The markets for halal goods and drinks in North America have been further divided into those in the United States of America, Canada, and Mexico. The market for halal foods and drinks in Europe has been segmented into the United Kingdom (UK), Germany (Germany), France (France), Italy (Italy), Spain (Spain), and the rest of Europe. The market for halal foods and drinks in Asia and the Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the remaining countries in Asia and the Pacific. South America, the Middle East, and Africa make up the three submarkets that make up the halal foods and drinks market in the rest of the globe.
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Key players in this industry include:
Some of the major companies that operate in the global halal foods and beverages market include American Halal Company Inc. (United States), Cleone Foods Ltd. (United Kingdom), Nestle S.A. (Switzerland), Al Islami Foods (United Arab Emirates), BRF S.A. (Brazil), QL Foods Sdn. Bhd. (Malaysia), Nema Food Company (United States), Beijing Shunxin Agriculture
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