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Halal Food Market Insights By Size, Share, Future Growth And Forecast From 2018-2026

Kenneth Research
Kenneth Research
Press Release

Kenneth Research has published a detailed report on ‘Global Halal Food Market’ which has been categorized by market size, growth indicators and encompasses detailed market analysis on macro trends and region-wise growth in North America, Latin America, Europe, Asia-Pacific and Middle East & Africa region. The report also includes the challenges that are affecting the growth of the industry and offers strategic evaluation that is required to boost the growth of the market over the period of 2018-2026.

“Global Halal Food Market Is Anticipated To Reach USD 922.53 Billion By 2026”

The Halal Food market growth is primarily due to increase in Muslim populations and their rising annual spending on food. This has created a surge in demand for halal food & beverage products. Increasing demand has also compelled market players to engage in authentic and branded products. Presently, consumers are exhibiting growing interest in halal industry. This is primarily due to the increasing consumer awareness about the nutritional and hygiene advantages, and improving lifestyles as a result of increasing disposable income. These products being processed and packed with much higher regulatory compliance compared conventional food products are gaining significantly popularity. Basically, they do not contain contents or ingredients that are against Islamic beliefs.

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Halal foods are expected to be produced, packaged, stored, and distributed as per Islamic teachings. Moreover, these products are considered to be safe, clean, and highly nutritional. The significant growth in Muslim populations across the globe is expected to offer immense opportunities to Halal Food market. In addition, the rapidly accelerating economic power of Islamic countries is anticipated to largely influence them to spend additional money on the branded products.

Leading Players of Global Market:

Some of the leading industry participants in the Halal Food market include Cleone Foods, Prima Agri-Products, Cargill, Kawan Foods, Janan Meat, Saffron Road Food, Dagang Halal, QL Foods, Al Islami Foods and Nestle.

The growing issues over the absence of proper regulatory framework to assure the authenticity of these products might be a restraint to the commercially produced halal food. The industry can be considered as a fragmented one and the absence of standardized regularizations has repressed the mainstream F&B participants from venturing this section of the worldwide Halal Food market. However, the number of small scale companies meeting the needs of the local populations has been increasing significantly.

Low level of awareness about the presence of authentic halal food brands is acting as a challenge to the industry. As a consequence, the industry is not experiencing demands to its full potential as expected. Moreover, halal authentic issues within the sector are considered quiet minor among consumer. Thus, this requires manufacturers to improve their marketing strategies and production facilities. Furthermore, it becomes difficult to understand consumer perspective about halal food & beverage brands.

The Asia Pacific Halal Food market is anticipated to dominate the global market by 2026, owing to the presence of emerging nations such as India, Indonesia, Malaysia, Bangladesh, Maldives, and Pakistan. These nations have significant population that follows Islamic beliefs. Moreover, the rising economic conditions in the region provides an opportunity for the foreign players to start of their production facilities, thus offering cost effective products the consumers in the region.

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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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