Articles
Halal Food and Beverage Market Size, Share, Growth and Trend Analysis Report, 2018 to 2025
by Susan Hill Business ConsultantThe
global halal food and beverage market 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.
Further key
findings from the report suggest:
- The global
halal foods industry 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
Access full
research report on global halal food and beverage market:
www.grandviewresearch.com/industry-analysis/halal-food-market
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About Susan Hill 
Business Consultant
145 connections, 2 recommendations, 567 honor points.Joined APSense since, September 25th, 2017, From California, United States.
Created on Oct 28th 2019 08:26. Viewed 495 times.
