Latest Survey On Halal Food Market
The worldwide market for Halal Food is expected to grow at a CAGR of roughly 6.1% over the next five years, will reach 1630 million US$ in 2024, from 1140 million US$ in 2019,
The global Halal Food market report provides an in-depth analysis of the Halal Food industry, analyzing the potential of the market and also provides data and forecasts on the market structure, dynamics, and trends.
The Arabic word for “permitted.” Halal is commonly seen as “Halal” which means food that is permitted under Islamic guidelines as found in the Qu’ran Most food and drinks are considered Halal unless they are clearly stated as forbidden in the Qur’an (holy book of Islam) and hadith (prophetic traditions).
The halal industry is based on a belief that Muslims should eat food and use goods such as cosmetics that are “halalan toyibban”, which means permissible and wholesome. In fact, the halal market is non-exclusive to Muslims, and has gained increasing acceptance among non- Muslim consumers who associate halal with ethical consumerism.
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Actually, the halal industry has now expanded beyond the food sector to include pharmaceuticals, cosmetics, health products, toiletries and medical devices as well as service sector components such as logistics, marketing, print and electronic media, packaging, branding, and financing. In addition, the halal food marketplace is emerging as one of the most profitable and influential market arenas in the world food business today.
In consumption market, the global consumption value of halal food increases with the 8.14% average growth rate. East Asia and Middle East & North Africa are the mainly consumption regions due to the bigger demand of downstream applications. In 2015, these two regions occupied 56.83% of the global consumption volume in total.
Halal food has mainly three types, which include fresh products, frozen salty products, processed products and others. With large number of Islam population and economy development, the consumers will need more halal food products. So, halal food has a huge market potential in the future. Manufacturers engaged in the industry are trying to produce high purity and good taste halal food through improving technology.
The major raw materials for halal food are fresh meat, food seasoning, packing materials and other additives. Fluctuations in the price of the upstream product will impact on the production cost of halal food, and then impact the price of halal food. The production cost of halal food is also an important factor which could impact the price of halal food. The halal food manufacturers are trying to reduce production cost by developing production method.
The report proves as a valuable source of repository for the intending clients with up-to-date market intelligence and assists them in making strategic investment decisions. Additionally, the report distinguishes and studies emerging trends along with crucial drivers and major challenges faced by the industry.
The market report is defined by the presence of a large number of leading players and new entrants, including but not limited to platform providers, service providers, device manufacturers, developers, and content providers.
The objective of the study is to define market sizes of different segments & countries in previous years and to forecast the values to the next eight years. The Halal Food market report is designed to incorporate both qualitative and quantitative aspects of the industry with respect to each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as drivers & restraining factors which will define the future growth of the market. Additionally, it will also incorporate the opportunities available in micro markets for stakeholders to invest, detailed analysis of competitive landscape and product offerings of key players. The segments and sub-segment of the market are explained in details.
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Top Market Players covered in this report, Nestle, Cargill, Nema Food Company, Midamar, Namet Gida, Banvit Meat and Poultry, Carrefour, Isla Delice, Casino, Tesco, Halal-ash, Al Islami Foods, BRF, Unilever, Kawan Foods, QL Foods, Ramly Food Processing, China Haoyue Group, Arman Group, Hebei Kangyuan Islamic Food, Tangshan Falide Muslim Food, Allanasons Pvt
Market Segment by Regions, regional analysis covers, North America (United States, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia), South America (Brazil, Argentina, Colombia etc.), Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers, Fresh Products, Frozen Salty Products, Processed Products, Others
Market Segment by Applications can be divided into, Restaurant, Hotel, Home, Others
The scope of the report: This research report presents an extensive study of the market and comprises significant insights, facts, previous data, and statistically-supported and industry-validated market facts and projections with an appropriate set of methodologies and assumptions. It provides analysis and data on the basis of market segments and sub-segments, regions, product type, and distribution channels.
What the report offers:
- Market Overview for the Global Halal Food Market and the identification of the market dynamics, including growth drivers, restraints, challenges, and potential opportunities for the market.
- Market analysis for the Global Halal Food Market, with competitive landscape and geographic analysis on a global and regional scale.
- Determination of different factors responsible for changing the market landscape, rising future opportunities and determination of leading players, which can affect the market on a regional scale.
- Company profiles of the leading competitors along with their strategic initiatives and market shares.
- Determination and analysis of the macro- and microeconomic factors that affect the Global Halal Food Market, as per the regional analysis.
In the end, This report is an assimilation of trustworthy and updated information, quantitative and qualitative evaluation by industry analysts, inputs from industry professionals and leading competitors across the industrial value chain.
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