The global market for halal food & beverages is projected to register a CAGR of 6.05% from 2020 to 2028. The surging Muslim population and the increasing awareness among the non-Muslim population regarding halal foods, are the dominant factors, said Inkwood Research.
According to Inkwood Research, there has been an increasing preference for organic and natural food and beverage products across the globe. This trend is an opportunity for halal food products at a time when the Muslim population is increasing globally.
Within the halal food industry, manufacturers are focusing on innovating and diversifying, as well as marketing the health benefits of halal-certified foods.
The increasing standardisation of halal certification is also set to drive increased opportunities.
However, inappropriate hygienic practices, poorly-maintained production and processing facilities, and expiring halal certification weakens the trust of consumers.
As of 2019, the Asia Pacific region dominated the market in terms of market share.
Crescent Foods, Nestle, QL Foods, Al Islami Foods., Cargill Inc., are among the prominent companies in the market.
Buy the report by Inkwood Research (December 2019)