Global Halal Food Market is expected to reach USD 2.10
trillion 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.
Full
Research Report on Global Halal Food Market Analysis:
http://www.grandviewresearch.com/industry-analysis/halal-food-market
http://www.grandviewresearch.com/industry-analysis/halal-food-market
Further
key findings from the report suggest:
- The global halal foods industry was
valued at USD 1,245.6 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 4.8% 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
View more reports of this category by
Grand View Research at: http://www.grandviewresearch.com/industry/food-safety-and-processing
Grand View Research has segmented the
Global Halal Food Market on the basis of product and region:
Halal Food
Product Outlook (Revenue, USD Billion; 2014 - 2025)
- Meat & Alternatives
- Milk & Milk Products
- Fruits & Vegetables
- Grain Products
- Other Halal Food Products
Halal Food
Regional Outlook (Revenue, USD Billion; 2014 - 2025)
- North America
- U.S.
- Europe
- Turkey
- Russia
- Germany
- UK
- Asia Pacific
- Indonesia
- Malaysia
- Pakistan
- India
- Middle East & Africa
- Egypt
- Saudi Arabia
- Nigeria
- UAE
- Central & South America (CSA)
- Brazil
View press
release of this research report by Grand View Research:
http://www.grandviewresearch.com/press-release/global-halal-food-market
http://www.grandviewresearch.com/press-release/global-halal-food-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more
information: www.grandviewresearch.com
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