Global Halal Food Market Share, Size, Analysis, Growth, Industry Trends and Overview | Hexa Research

The halal food market is forecasted to witness tremendous growth opportunities from people of all religions and ethnic backgrounds owing to Halal food’s ethical quality, hygiene, and safety.

The term 'Halal' refers to something that is legally recognized & allowed In Islam. It is used with respect to lifestyle foods & products. These may comprise clothing, cosmetics, pharmaceuticals, and personal care. Halal products are regarded as one of the most rapidly growing global foods, with majority of its demand from Asia.

 

The halal food market is anticipated to experience remarkable prospects from all ethnic backgrounds & religions. This can be credited to the product’s hygiene, ethical quality, and safety. Market competition is said to increase in the near future. The market will also turn more diverse regarding geographies and purchasing power.

 

The Muslim population constitutes around a quarter of the worldwide population. Growth in the former should propel the market. A large base of middle-aged Muslims around the globe can result in increased demand for Halal foods & services. Growing disposable incomes among the Muslim population are likely to spur market demand.

 

Related Category Market Reports @ https://www.hexaresearch.com/research-category/food-and-beverages-industry

 

Moreover, concerns regarding unclean & unhealthy food can shift the preference of people towards Halal food. This will boost market sales in the years ahead. However, the unavailability of unified global Halal standards may hamper the halal food market. Different nations have different certification policies. The same decreases product developments & causes high supply chain cycle time.

 

In addition, ‘halal integrity’ maintenance via its delivery chain challenges the market. Lack of skilled workforce limits market innovations & production efficiency. This also deters market growth in the near future. Asia, home to most of the Muslim population on the globe, dominates the market. Regional expansion is propelled by Indonesia, China, Malaysia, Pakistan, and India.

 

Turkey and Egypt also provide a vast market consumer base. Demand for Halal products in the Middle East is anticipated to rise two times over in the forecast period. Europe could expand significantly due to ‘halal food’ sales in huge grocery shops. Supermarkets, hypermarkets, butcheries, and other small stores have been selling Halal foods.

Moreover, food service outlets have joined the bandwagon. These sectors contribute added market earnings. Some companies operating in the global halal food market encompass Saffron Road Food, Nema Food Company, and Prima Agri.

 

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