Global Halal Products Market Overview:
Halal is an Arabic world, is referred to relating or denoting to the meat prepared, is set by Muslim law. The continuously rising population of the Muslim community in the Middle East region and the Asian region have been creating more opportunity for the market. For instance, in Dubai, the consumption of the halal product is very high due to a high population of Muslims and high deposal income. Additionally, Acceptance of multilateral trade agreement coupled with rising in consumption of halal products among another community has been supplementing overall growth of the market. However, the lack of food control infrastructure in emerging countries and the absence of a globally uniform halal standard are the factors that are limiting the market.
As per latest study released by AMA Research, the Global Halal Products market is expected to see growth rate of 6.6%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
High Growth Market | Asia-Pacific |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Acceptance of Multilateral Trade Agreement Coupled With Rising in Consumption of Halal Products among another community and Government Initiatives towards Food Quality Certification Scheme
Market Growth Drivers:
Rising Global Population of the Muslim Community and Their Rising Disposable Incomes, Rise and Demand for Halal Certified Products and Increasing Improvement in Supply Chain in Retail Sector
Challenges:
Lack of Food Control Infrastructure in Emerging Countries and Increasing Prevalence of False Certification and Labeling For Halal Food and Product
Restraints:
Lack of Transparency With Respect To the Use of Ingredients for the Pharmaceutical and Personal Care Products and Absence of a Globally Uniform Halal Standard.
Opportunities:
Rising Global Demand for Processed Food, the Halal Processed Food, and Beverages in Both Developed and Developing Nations
Competitive Landscape:
The market of the halal product is fragmented in nature. The increasing demand for halal food and product are driving the halal product market. For instance, the Halal Guys restaurant in the United States famous halal food does the partnership with Postmates an American logistics company to for delivering halal food direct at customers place. Increasing demand from both Islamic and Non-Islamic countries boosting the demand for halal food.
Some of the key players profiled in the report are Al-Falah Halal Foods (Japan), Al Islami Foods (United Arab Emirates), QL Foods (Malaysia), Nestlé (Switzerland), Saffron Road Food (United States), Beijing Shunxin Agriculture (China), Allanasons Pvt. Ltd. (India), Prima Agri-Products (Malaysia), Hebei Kangyuan Halal Food Company (China) and Nema Food Distribution Inc. (United States). The Vendors having a strong hold in the market are Nestle S.A. Additionally, following companies can also be profiled that are part of our coverage like Midamar Corporation (United States) and Namet Gida (Turkey). Analyst at AMA Research see United States Vendors to retain maximum share of Global Halal Products market by 2030. Considering Market by Product Base, the sub-segment i.e. Native Starch will boost the Halal Products market.
Latest Market Insights:
In January 2021,Frand Neave Holdings Bhd's RM60 million acquisition of three food and beverage (F&B) companies under the flagship brand Sri Nona will strengthen F&N's new pillar of growth for halal food.
In March 2019, Midamar corporation halal food services in the United States, provides k-12 schools with hand slaughtered halal chicken products for lunch desired by Muslim parents. and 5th February 2019, New York University opens fully halal dining hall in accordance with Islamic dietary rules.
What Can be Explored with the Halal Products Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Halal Products Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Halal Products
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Halal Products market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Halal Products market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Halal Product Providers, Food Safety Agencies, Halal product Traders, Distributors, and Suppliers, Halal product Raw Material Suppliers, Government Organizations, Research Organizations and Consulting Firms, Trade Associations and Industry Bodies, Importers and Exporters of Halal Product and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.