Market outlook of the halal food market
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. With the rise in the demand for halal food products, producers from the non-Muslim countries such as the US, Brazil, and Australia are keen to tap this opportunity.
Technavio market research analysts expect the global halal food market to multiply at a speedy rate, with a CAGR of more than 14% during the forecast period.
One of the major factors contributing to the growth of the market is increased awareness about halal food. Social media is assisting in spreading awareness about the halal products globally. Zabiah.com and many other halal blogs such as thehalalfoodblog.com, mybigfathalalblog.com, and halalfoodguy.co are spreading the awareness about the halal concept, especially in the western Muslim markets such as the US, the UK, Germany, and France.
Geographical segmentation and analysis of - Americas, Europe, MEA, and APAC.
In 2014, APAC led the market and accounted for over 60% of the market, followed by MEA and Europe. Even though most Muslim countries are situated in the MEA region, the APAC region dominated the market as it has the largest Muslim population in the world.
The report offers an analysis of each of the following segments and discusses its impact on the overall market growth -
Competitive landscape and key vendors - Al Islami Foods, BRF, Kawan Foods, and Nestle
The halal food market consist of local and major multinational vendors that are competing with each other to gain a bigger market share.
On June 25, 2014, Al Islami Foods launched a new processing factory that provides poultry, snack, and seafood products for foodservice and retail sectors in GCC, CIS countries and Russia.
The top vendors in the market are -
Al Islami Foods
Other prominent vendors in the market include Al-Falah Halal Foods, Carrefour, Cleone Foods, Crown Chicken, Eggelbusch, Euro Foods Group, McDonalds, Shaheen Foods, Sickendiek Fleischwarenfabrik, Tesco, Ummah Foods, and Yum! Brands.
Growth drivers, challenges, and upcoming trends: Halal food
Technavio analysts predict upcoming trends such as the rapid growth in non-Muslim countries that offers huge growth potential for the halal food market.
This report provides a number of factors contributing to the adoption, limitations, and opportunities of the halal food market. It also offers an analysis of each factor and an estimation of the extent to which the factors are likely to impact the overall market growth.
Key questions answered in the report include
What will the market size and the growth rate be in 2019?
What are the key factors driving the global halal food market?
What are the key market trends impacting the growth of the global halal food market?
What are the challenges to market growth?
Who are the key vendors in the global halal food market?
What are the market opportunities and threats faced by the vendors in the global halal food market?
What are the trending factors influencing the market shares of the Americas, Europe, MEA, and APAC?
What are the key outcomes of the five forces analysis of the global halal food market?
Technavio also offers customization on reports based on specific client requirement.
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