Halal Food And Beverage Market Competitive Landscape and Strategy Analysis from 2022-2030

 Halal Food And Beverage Industry Overview

The global halal food and beverage market size was valued at USD 774.93 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 3.6% from 2022 to 2030.

The increasing Muslim population worldwide and growing concern regarding food safety, hygiene, and reliability will drive the market in the forecast period. According to an article published in Pew Research Centre, April 2019, there are 1.8 billion Muslims globally. With an increase in the demand, manufacturers have widened their product portfolio by introducing several value-added halal food items, including pasta, vegetable, juice, milk, yogurt, and cheese. Further, the production of halal-certified foods by key players in the market will increase product visibility among consumers.

Gather more insights about the market drivers, restrains and growth of the Global Halal Food And Beverage Market

The disruption of the food supply chain owing to the rapid spread of COVID-19 affected the food and beverage market including the halal food industry. Leading manufacturers worldwide experienced a reduction in labor and disruption in the import and export of halal food which significantly affected the consumption and sale capability. Also, the slowdown in demand for meat products due to safety and hygiene concerns during the pandemic negatively influenced the industry. According to an article published in Bloomberg, July 2021, In the U.S., sales of meat at grocery stores were down by more than 12% compared to the year before the pandemic. However, inclination towards nutritious and safe quality food is expected to boost the market in the forecast period.

The rising interest among consumers in the consumption of vegan food & beverage along with product introduction by halal manufacturers for these conscious consumers’ is expected to bolster the market growth from the year 2022 to 2030. Key players in the market are launching vegan products due to changing consumer perceptions of animal slaughter and suffering. For instance, in January 2021, AI Islami Foods, and United Arab Emirates (UAE) based halal food giant, launched a plant-based burger. The product is made from a combination of sunflower protein sourced from an organic non-GMO farm, fava beans, and peas. The initiative was taken in response to the growing demand for vegan food, which will further integrate well with the market growth trend.

Islam is the fastest-growing religion, especially in Asia Pacific, which will positively affect the demand for halal products in the region. According to an article published in China Highlights, in February 2022, there are almost 25 million Muslims spread across China and are further concentrated in small groups with Islam being the major community. The growing awareness among Muslims regarding the need and necessity to consume non-haram food owing to their religious sentiments is expected to drive the market. Some of the brands offering halal-certified products in the region are Ecolite, Saffron Road, Prasuma, Keventer, Prima Agri-Products, Nestle, and Pampangas Best.

Key manufacturers in the market are adopting various marketing strategies, such as product innovation, product line expansion, and acquisition, to produce halal foods and strengthen their market position. For instance, in May 2021, Kimly, a coffee operator acquired a 75% stake in Tenderfresh, a food business for USD 54 million. The strategy was amended to expand the industry in Singapore and other neighboring countries that will be available across restaurants, food stalls, and kiosks in the country. Also, Tenderfresh produces halal-certified products which will leverage a competitive edge for these products in the industry.

Halal cuisine has grown in popularity among Muslim and non-Muslim consumers in recent years as it has evolved from a religious identity mark to a guarantee of meals safety, hygiene, and reliability. According to an article published in the United States Department of Agriculture (USDA), in April 2021, the Indonesian government enacted required halal labeling and certification laws, resulting in which consumers increasingly choosing these foods. Manufacturers have broadened their product line in response to increased demand by developing many value-added food items. For instance, in November 2019, Marks & Spencer launched its own-brand halal-ready meals, products including chicken arrabbiata, chicken and mushroom tagliatelle, chicken and leek bake, and chicken hotpot, chicken jalfrezi, and chicken tikka masala. These meals will be available in U.K., Dubai, and Singapore outlets, operated by Al-Futtaim.

Browse through Grand View Research's Consumer F&B Industry Research Reports.

  • Frozen Dough Market - The global frozen dough market size was valued at USD 20.99 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 5.1% from 2022 to 2030. 
  • Fromage Frais And Quark Market - The global fromage frais and quark market was valued at USD 11.89 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 2.7% from 2022 to 2030.

Halal Food And Beverage Market Segmentation

Grand View Research has segmented the halal food And beverage market based on product, distribution channel, and region.

  • Halal Food And Beverage Product Outlook (Revenue, USD Million, 2017 - 2030)
    • Meat & Alternatives
    • Milk & Milk Products
    • Fruits & Vegetables
    • Grain Products
    • Others
  • Halal Food And Beverage Distribution channel Outlook (Revenue, USD Million, 2017 - 2030)
    • Hypermarket & Supermarket
    • Departmental Store
    • Online
    • Others
  • Halal Food And Beverage Regional Outlook (Revenue, USD Million, 2017 - 2030)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Key Companies profiled:

Some prominent players in the global Halal Food And Beverage market include

  • Nestlé S.A
  • Cargill, Incorporated
  • Unilever
  • American Halal Company, Inc.
  • Al-Falah Halal Foods
  • Prima Agri-Products
  • One World Foods Inc.
  • Midamar Corporation
  • QL Foods
  • Rosen's Diversified Inc.

Order a free sample PDF of the Halal Food And Beverage Market Intelligence Study, published by Grand View Research.

Comments

Post a Comment

Popular posts from this blog

Spinal Implants & Devices Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2023 – 2030

  Spinal Implants & Devices Industry Overview The global  Spinal Implants & Devices Market  size is expected to reach USD 19.0 billion by 2030 and is expected to expand at a CAGR of 5.2% in the forecast period, from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing number of vehicular accidents is leading to increasing new cases of spinal cord injuries (SCIs). Other causes of SCIs include falls, violence, acts of violence, sports and recreation injuries, and diseases. Vehicular or road accidents and falls account for the majority of SCI cases. Fall-induced SCI is common among people aged 65 years and above. Acts of violence such as gunshot wounds or knife wounds account for around 12% of SCI cases. Sports activities such as diving in shallow water and impact sports lead to nearly 10% of SCIs. Cancer, osteoporosis, arthritis, and inflammation of the spinal cord also cause SCI. Based on National Spinal Cord Injury Statistical Center da...
Read more

Latin America Pharmaceutical Contract Manufacturing & Research Services Market Overview, Cost Structure Analysis and Forecast to 2030

  Latin America Pharmaceutical Contract Manufacturing & Research Services Industry Overview The  Latin America Pharmaceutical Contract Manufacturing & Research Services Market  size is expected to reach USD 40.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 7.5% from 2022 to 2030. The low cost of drug registration in Latin American countries and the economic growth are the key factors contributing to progress in this region. Moreover, factors such as the growing demand for generics, rising investments in R&D, the growing geriatric population, and the increasing burden of chronic diseases are responsible for market growth. The outbreak of COVID-19 has boosted the market growth as companies have increased investments in R&D and manufacturing to develop vaccines and drugs against the COVID-19. During the coronavirus outburst, the supply chains of biopharmaceutical companies remained robust...
Read more

Europe Orthopedic Navigation Systems Market - Global Industry Insights, Trends and Growth Opportunity Analysis to 2030

  Europe Orthopedic Navigation Systems Industry Overview The  Europe Orthopedic Navigation Systems Market  size is expected to reach USD 2,504.4 million by 2030, according to a new report published by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.8% from 2023 to 2030. The rising number of target diseases especially in the geriatric population is responsible for the rapid growth of the market. According to the Executive Agency for Health and Consumers, one in ten people in the geriatric population in Europe is suffering from osteoarthritis. Minimal invasion and low post-operative complications associated with computer-assisted surgery are anticipated to drive regional market growth over the forecast period. Moreover, the introduction of technologically advanced products is expected to induce demand for  orthopedic navigation systems . For instance, Orthokey Italia developed a new version of KiRA system integrating it with the iPad to ...
Read more