Worldwide Halal Food & Beverage Industry to 2027: Online Sales Channels are Proving to be Effective and Efficient – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Halal Food & Beverage Market Overview, 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
According to this report the market was valued around USD 1690 Billion which is anticipated to cross over USD 2500 Billion during the forecast period. Further, the market is projected to grow with more than 7% CAGR for 2022-2027.
The research report present insights from different regions namely- North America, Latin America, Europe, Middle East and Africa, Asia Pacific.
The market has been segmented on the basis of product lines to give a deeper understanding. The product lines which formed the basis of the study was – halal meat, seafood and poultry market, halal milk and milk beverages products, halal fruits and vegetables, halal grain products market, halal beverages, and halal confectionery, bakery, and other products.
The various sales and distribution channels identified for halal products are hypermarkets/supermarkets, traditional retail channels in form of convenience stores, online channels, and other sales channels such as specialty stores, exhibitions, etc.
The growing Muslims population is the biggest driver for the halal foods and beverages market globally. Asia Pacific has the biggest population of Muslims and similarly contribute to almost 90% of the total market share. However, its is interesting to note that Latin America which has the smallest share in the global halal foods and beverages market with a share of less than 0.5%, is home to home to the biggest halal exporting country- Brazil.
Globally it has been observed that the most demanded halal foods and beverages products are the halal meat, poultry and seafood products. Almost 40% to 50% of the total market sales is generated by halal meat, poultry and seafood. Halal fruits and vegetables and halal grain products have the smallest chunk in the global market with a combined market share of about 10%.
However confectionery, bakery and other related products were the fastest growing product segment in the market forecasted to grow at a CAGR of more than 9%. As halal foods and beverages are getting more popular and seeing increased demand over the globe, the sales and distribution channels are growing simultaneously.
Traditional retail channels have shown the slowest growth rate. On the other hand, riding on the wave of e-commerce, online sales channels are proving to be effective and efficient for halal food and beverages market sale growing at a CAGR of roughly 8-9%.
Indonesia, Turkey, Pakistan, Bangladesh make up for almost 35% of the total global halal foods and beverages market and as the Muslim population grows, these major halal markets along with Arab and other Middle East and African nations are expected to be major avenues for halal investments.
COVID-19 Impacts:
The disruption of the halal food and beverage industry’s supply chains due to the swift spread of COVID-19 have affected the market growth. The leading manufacturers in Islamic and non-Islamic countries experienced a reduction in labor, which significantly affected the production capability.
Furthermore, the slowdown in demand for retail products such as pre-cooked and ready-to-eat meat products negatively influenced the industry. However, the rising concerns related to immunity increased the demand for health improving products to maintain immunity. Consumers’ inclination towards healthy, nutritious, and safer products is rising. The positive evolution of consumers’ preferences towards safe and quality halal products is expected to boost this industry in the upcoming years.
Major Companies present in the market
Al Islami Foods Co., QL Foods Sdn Bhd, Saffron Road, Midamar Corporation, Unilever, Kawan Foods Berhad, Cargill, Prima Agro-Products, Nestle S.A., BRF S.A., Al-Falah Halal Foods Ltd, Tahira Foods Ltd., American Foods Group
Considered In the Report
- Geography: Global
- Historical year: 2016
- Base year: 2021
- Estimated year: 2022
- Forecasted year: 2027
Key Topics Covered:
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Economic /Demographic Snapshot
5. Global Halal Food & Beverage Market Outlook
5.1. Market Size By Value
5.2. Market Share
5.2.1. By Region
5.2.2. By Country
5.2.3. By Company
5.2.4. By Product
5.2.5. By Sales Channel
6. North America Halal Food & Beverage Market Outlook
7. Europe Halal Food & Beverage Market Outlook
8. Asia-Pacific Halal Food & Beverage Market Outlook
9. South America Halal Food & Beverage Market Outlook
10. Middle East & Africa Halal Food & Beverage Market Outlook
11. Market Dynamics
11.1. Market Drivers
11.2. Market Challenges
12. Market Trends and Developments
13. Company Profiles
13.1. Al Islami Foods Co.
13.2. QL Foods Sdn Bhd
13.3. Saffron Road
13.4. Midamar Corporation
13.5. Unilever
13.6. Kawan Foods Berhad
13.7. Cargill
13.8. Prima Agro-Products
13.9. Nestle S.A.
13.10. BRF S.A.
13.11. Al-Falah Halal Foods Ltd
13.12. Tahira Foods Ltd.
13.13. American Foods Group
14. Strategic Recommendations
15. Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/2lughu-halal-food?w=4
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