Halal foods & beverages market is observing an exponential growth based on its high consumption among the consumers. The global halal foods & beverages market is projected to propel by increasing awareness regarding available benefits from the halal food & beverage products. Additionally, the halal foods & beverages market is growing due to increasing meat & meat products consumption.
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The significant factor driving the growth of the halal food & beverages market is the increasing demand for halal labeled food products among the consumers. Furthermore, the development of the food technology is providing the extra space for the frozen food manufacturers. In addition, the mounting growth of the organized retail industry is also anticipated to be one of the important factors for increasing growth of halal food & beverage products market during the forecast period. Consumers are interested to buy the products from supermarkets & hypermarkets instead of the normal grocery shop.
Furthermore, advance processing methods & technologies and high opportunities in developing countries are positively supporting the growth of the market. However, the availability of economical alternatives and the high cost of halal products may hamper the halal foods & beverages market over the review period. The market players are responding to these new opportunities by expanding their product line, which has boosted the share of the halal foods & beverages in the global market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 10.2% of the halal foods & beverages market during the forecast period, 2017-2023.
The global Halal Foods & Beverages Market is segmented into type, category, packaging, and distribution channel.
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 the market.
On the basis of the category, it is segmented into fresh, frozen and others. Among all, the fresh segment is dominating the market.
On the basis of the packaging, it is segmented into glass, metal, plastic, paper, and others. Among all the packaging segments, the plastic sub-segment is dominating the market.
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.
The major players in the halal foods & beverages market
American Halal Company, Inc. (U.S.)
Cleone Foods Ltd. (U.K)
Nestle S.A. (Switzerland)
Al Islami Foods (the UAE)
BRF S.A. (Brazil)
QL Foods Sdn. Bhd. (Malaysia)
Nema Food Company (U.S.)
Beijing Shunxin Agriculture Co., Ltd. (China)
Namet Gıda San. ve Tic. Inc. (Turkey)
Midamar Corporation (U.S.)
The global halal foods & beverages market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the halal foods & beverages market followed by North America owing to rising population followed by increasing consumption of halal food & beverage products in the developing regions. Moreover, increased demand for superior quality halal food products is driving the market of halal foods & beverages in the Asia Pacific region.
Furthermore, the U.S. dominates the North American halal foods & beverages market. Shifting consumer preference towards halal products and increased demand for meat products in the North American region is likely to boost the halal foods & beverages market over the forecast period. Additionally, the major key players are actively involved in the research & developments of the product for enhanced functionality.
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