New York, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Halal Food Market report encapsulates a comprehensive analysis of the global industry catering to food and beverages compliant with Islamic dietary laws. It delves into various segments of the market, encompassing an array of Halal-certified products such as meat, poultry, dairy, snacks, and more. This market, initially prominent in specific regions, has witnessed substantial growth in diverse countries due to increasing consumer awareness and demand for ethically sourced and high-quality food options. The report elucidates key drivers, challenges, trends, certification standards, market segmentation, major players, and consumer preferences, presenting a holistic view of the Halal Food Market landscape. Request Sample Report
What is the projected market size and growth rate of the Halal Food Market?
The Halal Food Market is anticipated to grow at a CAGR of 4.52% and is estimated to reach over USD 427.68 billion from 2022 to 2027.
What are the key drivers influencing the Halal Food Market growth?
The increasing consumer expenditure on Halal food, expanding market presence in countries like the US, Germany, Australia, and India, and the rise in the number of Halal food companies globally are significant drivers stimulating market growth.
What trends are shaping the Halal Food Market growth?
Organized retailing, witnessed through hypermarkets and supermarkets, increased availability of private-label Halal foods, and the role of restaurants in promoting Halal food options are key trends bolstering market popularity.
Are there any specific certifications for Halal food products?
Several bodies provide Halal certifications like JAKIM from Malaysia, MUIS from Singapore, and GIMDES from Turkey. Each certification body has its set of guidelines ensuring compliance with Halal requirements.
What challenges and opportunities exist in the Halal Food Market?
Challenges include the absence of universally accepted regulatory standards, country-specific regulations, and evolving frameworks. However, opportunities arise from addressing regulatory challenges, potential market growth in countries like Australia, India, China, and Brazil, and increasing global exports of Halal food products. For more details on the market challenges, download the sample report now
What are the segmentation and growth prospects in the Halal Food Market?
Segments include Halal MPS, Halal BCC, Halal FVN, Halal beverages, and others, contributing to the market's overall growth, with APAC estimated to contribute 51% to global market growth during the forecast period.
What are the key factors influencing consumer preferences and demographics in the Halal Food Market?
Halal food appeals not only to Muslim consumers but also to individuals seeking ethically sourced and high-quality food options. Younger generations, especially Millennials and Generation Z, are increasingly inclined towards Halal foods due to increased exposure through social media, travel experiences, and a focus on ethical consumption.
Who are the major players in the Global Halal Food Market?
Key market players include Al Islami Foods, BRF SA, CJ CheilJedang Corp., Nestle SA, Unilever PLC, Cargill Inc., Glanbia Plc, among others. These companies employ various strategies such as alliances, expansions, and product launches to strengthen their presence in the market. Buy the report
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