Market Overview:
Halal foods & beverages
market is observing an exponential growth based on its high consumption among
the consumers. The global halal foods & beverages market is projected to
propel by increasing awareness regarding available benefits from the halal food
& beverage products. Additionally, the halal foods & beverages market
is growing due to increasing meat & meat products consumption.
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Market Forecast:
The significant factor driving
the growth of the halal food & beverages market is the increasing demand
for halal labeled food products among the consumers. Furthermore, the
development of the food technology is providing the extra space for the frozen
food manufacturers. In addition, the mounting growth of the organized retail
industry is also anticipated to be one of the important factors for increasing
growth of halal food & beverage products market during the forecast period.
Consumers are interested to buy the products from supermarkets &
hypermarkets instead of the normal grocery shop.
Furthermore, advance processing
methods & technologies and high opportunities in developing countries are
positively supporting the growth of the market. However, the availability of
economical alternatives and the high cost of halal products may hamper the
halal foods & beverages market over the review period. The market players
are responding to these new opportunities by expanding their product line,
which has boosted the share of the Halal
Foods & Beverages Market Size in the global market. Nevertheless,
all these factors are projected to contribute to the estimated CAGR of 10.2% of
the halal foods & beverages market during the forecast period, 2017-2023.
Downstream analysis:
The global halal foods &
beverages market is segmented into type, category, packaging, and distribution
channel.
Based on 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.
Based on the category, it is
segmented into fresh, frozen and others. Among all, the fresh segment is
dominating the market.
Based on 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.
Based on 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.
Competitive analysis:
The major players in the halal
foods & beverages market
- American Halal Company, Inc. (U.S.)
- Cleone Foods Ltd. (U.K)
- Nestle S.A. (Switzerland)
- Al Islami Foods (the UAE)
- BRF S.A. (Brazil)
- QL Foods Sdn. Bhd. (Malaysia)
- Nema Food Company (U.S.)
- Beijing Shunxin Agriculture Co., Ltd. (China)
- Namet Gıda San. ve Tic. Inc. (Turkey)
- Midamar Corporation (U.S.)
Regional Analysis:
The global halal foods &
beverages market is segmented into North America, Europe, Asia Pacific, and
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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