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Market Overview:Halal Foods & Beverages Market are expected to keep growing over the forecast period due to increasing meat consumption and growing awareness regarding halal food & beverages products in this region. Major key players are investing in R&D to bring up innovation in the product lines. Retail customers are more inclined towards buying cooked or semi-cooked ready-to-eat food, meat, and soups amongst the categories of available halal food products in the market. Also, increasing promotional activity by the retailers across the region has led to the rising consumer demand.
The North American region is leading the halal foods & beverages market and is expected to have a substantial growth over the forecast period, 2017-2023. In North America, the U.S. is the major consumer of meat products, which has opened the opportunity for the use of halal foods & beverages in this region. Furthermore, the rise in the consumption of meat products and convenience food, pooled with the increasing demand for nutritive food ingredients are considered to be the key driving factors in this region.
Furthermore, increase in the consumption of halal food & beverage products owing to changing consumer preference has uplifted the demand for halal food & beverage products market in this region. However, availability of economical alternatives and health concerns such as obesity and heart-related problems caused due to the consumption of meat & meat products may hamper the market growth over the forecast period. North American halal foods & beverages market are estimated to grow at a CAGR of 10.8% over the forecast period, 2017-2023.
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Major Key Players Update:
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major halal foods & beverages players. It further includes product portfolios and developments of leading players, which includes
Some of the key players profiled in the Global Halal Foods & Beverages Market American Halal Company, Inc. (U.S.), Cleone Foods Ltd. (U.K), Nema Food Company (U.S.), QL Foods Sdn. Bhd. (Malaysia), Nestle S.A. (Switzerland), Al Islami Foods (the UAE), BRF S.A. (Brazil), Beijing Shunxin Agriculture Co., Ltd. (China), Namet Gıda San. ve Tic. Inc. (Turkey), and Midamar Corporation (U.S.).
Key Findings:
The demand for halal ingredients is high from the bakery & confectionery industry
Asia Pacific region is experiencing a higher growth rate in the global halal foods & beverages market
Segments:
The global halal foods & beverages market is segmented into type, category, packaging, and distribution channel.
On the basis of the category, it is segmented into fresh, frozen and others. Among all, the fresh segment is dominating the market based on increased consumption of fresh poultry and meat products globally. However, the frozen segment is projected to witness a steady growth over the forecast period owing to shifting consumer inclination towards frozen foods.
Based on the packaging, it is segmented into glass, plastic, metal, paper, and others. Among all the packaging segments, the plastic sub-segment is dominating the market owing to its toughness and ease of transportation.
On the basis of 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 owing to increase in the demand for halal ingredients for the preparation of bakery & confectionery products. Moreover, shifting consumer preferences for convenience food has resulted in the growth of dairy & frozen desserts segment.
On the basis of 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.
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Regional Analysis:
The Global Halal Foods & Beverages Market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the halal foods & beverages market followed by North America. In the Asia Pacific region, China and Pakistan are the major consumers of halal foods & beverages, which, in turn, boosts the market growth in this region. Furthermore, increasing consumption of halal poultry and meat products and rapidly growing population in developing countries of Asia Pacific is giving a push to the growth of the halal foods & beverages market.
Moreover, shifting consumer preference towards halal food & beverage products in countries like the U.S., Canada, and Mexico in the North American region is projected to boost the halal foods & beverages market during the forecast period.
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