The global halal foods & beverages market was analyzed by Market Research Future (MRFR) and it was projected that a notable CAGR of 10.2% of will be attained by the market over the forecast period of 2017 to 2023. The valuation of the halal foods & beverages market was further stated to surpass its previous.
The major factor driving the global market of halal food & beverages is the surging demand for these food items among the mundane consumers. Additionally, the fast-paced development of food technology is offering the extra space and opportunity for the frozen food manufacturers. Moreover, the accelerating growth of the organized retail sector is also expected to be amongst one of the vital factors behind the steeping demand for halal food & beverage products. Consumers across the globe are becoming increasingly interested in buying products from supermarkets & hypermarkets instead of the conventional grocery shops; this is due to the availability of halal items in the former stores.
Needless to mention, the advancing processing methods as well as the technologies and the huge scope of opportunities in developing countries are majorly boosting the growth of the market. However, the availability and introduction of various economical alternatives and the high cost associated with purchasing halal products can hamper the global market over the mentioned forecast period. The players in the market are responding increasingly to these new all new openings and opportunities by expanding their product range and line. This is inversely pushing the global halal foods & beverages market to grow. Nonetheless, all these key factors are reported by MRFR to contribute to the growth of the market.
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The global Halal Foods and Beverages Market comprises a host of key players. This includes names like QL Foods Sdn. Bhd. (Malaysia),
- Nema Food Company (U.S.),
- American Halal Company, Inc. (U.S.),
- Cleone Foods Ltd. (U.K),
- Nestle S.A. (Switzerland),
- Namet Gıda San. ve Tic. Inc. (Turkey),
- Al Islami Foods (the UAE),
- BRF S.A. (Brazil),
- Beijing Shunxin Agriculture Co., Ltd. (China)
- Midamar Corporation (U.S.)
The global halal foods & beverages market has been segmented in terms of type, end-user, and components.
On the basis of the type, it is segmented into bakery & confectionery, beverages, sweet & savory snacks, dairy & frozen desserts, meat & meat products, oils & fats, and others. The bakery & confectionery segment is dominating the market.
On the basis of the category, it is segmented into fresh, frozen and others. Among all, the fresh segment is dominating the market.
On the basis of the packaging, it is segmented into glass, metal, plastic, paper, and others. Among all the packaging segments, the plastic sub-segment is dominating the market.
On the basis of the distribution channel, it is segmented into the store based, and non-store based. The store-based distribution channel is dominating the market based on the one-stop shopping experience
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The global halal foods & beverages market is geographically distributed across the following key regions: Asia Pacific, North America, Europe, and the Rest of the World (RoW).
The Asia Pacific region is dominating the halal foods & beverages market followed by North America owing to rising population followed by increasing consumption of halal food & beverage products in the developing regions. Moreover, increased demand for superior quality halal food products is driving the market of halal foods & beverages in the Asia Pacific region.
Furthermore, the U.S. dominates the North American halal foods & beverages market. Shifting consumer preference towards halal products and increased demand for meat products in the North American region is likely to boost the halal foods & beverages market over the forecast period. Additionally, the major key players are actively involved in the research & developments of the product for enhanced functionality.
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