This market research reports offers an in-depth study and segmentation of the global halal food market by key geography, including the Americas, Europe, MEA, and APAC. The report also covers the major trends and drivers influencing the growth of the market. Top companies considered in this report are Al Islami Foods, BRF, Kawan Foods, Nestle, Prima Agri-Products, QL Foods, Saffron Road, and Tahira.
Technavio’s market research analysts estimate the global halal food market to grow at a CAGR of 14% between 2015 and 2019. Earlier, halal food were prepared for Muslims, but now they are consumed globally by people of all religions and ethnic backgrounds as they are known for their safety, hygiene, and ethical quality, and this factor is driving the global halal food market. APAC dominates the global market for halal foods, accounting for around 60% of the total market share. Several Asian nations are conducting various promotions and marketing strategies, which is increasing the demand for Halal foods in this region.
The new market research report from Technavio provides a breakdown and analysis of the halal food segments by technology.
“Of late, the consumption of halal foods is not only limited to the Muslim nations, but also by the general population across the world. Increase in sales of these foods have encouraged vendors to introduce new product varieties in the market. For instance, Lootah Premium Foods introduced Lussory, a 100% halal wine, which has no alcohol content. Also, the market is witnessing an increase in accreditation agencies that certify the credibility of halal foods,” says Vijay Sarathi, Lead Analyst, Food & Beverages, Technavio Research.
Halal foods are prepared according to a set of Islamic dietary standards that determine what is permissible, lawful, and clean and can be consumed by Muslims. The halal food market standards include slaughtering of animals, food ingredients, and various processed food products as per the Islamic law. Currently, the halal foods are in high demand in other than Islamic countries as they are considered fresher and more hygienic.
The leading vendors in the global halal food market include Al Islami Foods, BRF, Kawan Foods, Nestle, Prima Agri-Products, QL Foods, Saffron Road, and Tahira. The market consist of local and major multinational vendors that are competing with each other to gain a bigger market share.
A more detailed analysis is available in the Technavio report, Global Halal Food Market 2015-2019.
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