+1-888-308-5802     
News Contact Us

Halal Products Market is anticipated to grow at lucrative CAGR by 2024 due to continuous growth in halal products’ in APAC region

Author : Rahul Sankrityayan | Published Date : 2019-03-18 

Halal Products Market is driven by continuous growth of Muslim population across the globe coupled with increasing globalization. Muslim religion is second largest and fastest growing religion among the world. Global Muslim population is expected account for 25% of overall global population by 2030. Study showed that overall customer base spread over 112 countries is over 1.9 billion. Food, Nutrition and Animal Feed.

Growing consumer purchasing power across European nation along with enhancement in overall development in retail sector are the factors driving the overall halal product market demand. Substantial number of retail outlet across globe to maintain standards of potential customers will drive the industry demand. Moreover, halal certification standards across retail and product visibility across outlets have witnessed notable upsurge in the industry.

Increasing demand for various halal product along with improvement in supply chain management are the key factors driving the overall industry demand. Moreover, high growth in product penetration across food & beverage, beauty products, personal care and pharmaceutical industries will further boost the market demand.

Request for a Table Content of Research Report @ www.gminsights.com/request-toc/upcoming/1796

ising globalization coupled with favorable trade policies promoting healthy product growth is expected to drive the industry growth. Additionally, halal products market sector is turned to be highly organized sector resulting with increased popularity and maintaining the overall standards laid by the certification board.

Halal product food segment is expected to dominate the overall industry share accounting for more than 50% share. Improved packaging coupled with increasing number of halal product manufacturers, cultural diversity across the globe and migration of population from Middle east nations are the key factors for fueling the industry demand.

Product penetration across personal care items, pharmaceuticals, health supplement, and in food industry have witnessed a noticeable growth. Moreover, increasing popularity across other community have resulted in upsurge in the halal product adaption. Meeting product standard requirement to boost trade across Muslim countries is favorable to the products certified by Department of Halal Certification considering necessary Islamic dietary obligations. Study shows that over 70% of overall Muslims follow these principles.

Asia pacific led by India, Malaysia & Indonesia with high potential customers is expected to show significant growth over forecast timeframe. Asia Pacific along with Middle East accounts for more than 80% of overall market share and is expected to dominate the overall market with customer base over 400 million. Moreover, subsidies are offered in the country with higher Muslim population promoting the product manufacturing.

Europe, led by UK, Italy and Russia may witness rapid growth owing to increasing product penetration in the regional market. Shifting consumer preference towards product with rising processed food industries will propel the industry growth. Lack of availability of manufacturing depending most on the imports is expected to affect the price trend of the halal product industry.

Middle East halal product market is majorly dependent on import of the product due to lack of production facilities. Moreover, availability of large customer base is expected to drive the overall business demand. Reduce dependency on imports governments are implementing measures to widen the regional production of products catering to local market and achieve required standards.

Make an inquiry before purchasing report @ www.gminsights.com/inquiry-before-buying/1796

Diversified rules and standards are accepted by different countries resulting in ambiguity of the product standards. However, product accepted by one of the country standard may not be accepted by other country standard. Absence of overall standard of the halal product may act as challenge for market growth. Moreover, acceptance of product from other community is very low owing to trust issues.

Few key notable players include Krafts Food Group, Nestle, Kellogg’s, Coca Cola, Unilever, L’Oreal and GlaxoSmithKline Pharmaceuticals. Increased product promotion with appropriate standards along with advantages over other competitive products are the key strategies applied by the industry players. In addition to this, providing better logistics and acquiring halal product standards according to various norms laid by different countries are the key factors for industry growth.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

Related News

2019 - 2025 | Concentrator Photovoltaic (CPV) Market Size, Industry Analysis Report, Share & Forecast

Published Date: 2019-06-20         Author: Rahul Sankrityayan

The global CPV market size can be segmented on the basis of technology into refractor and reflector. In addition, the industry can be segregated by concentrated level into low concentrated photovoltaic and high concentrated photovoltaic. The industry can be further categorized by application which i... Read More

CO2 Enhanced Oil Recovery Market Size, Share & Forecast, 2019 - 2025

Published Date: 2019-06-20         Author: Rahul Sankrityayan

The U.S. CO2 enhanced oil recovery market is subject to grow at a significant rate due to the depleting old oil reserves, simultaneous increase in oil demand, and availability of low-cost carbon dioxide from industrial emissions. Carbon dioxide injection accounts for nearly 6% of the U.S. onsho... Read More

Green tea polyphenols industry from cosmetic application may observe gains up to 6.5% by 2024

Published Date: 2019-06-20         Author: Rahul Sankrityayan

Tea Polyphenols Market is set to exceed USD 340 million by 2024; according to a new research report by Global Market Insights, Inc. Increasing consumption rates along with rising health awareness for nutraceutical food & beverages will propel tea polyphenols demand. This growing demand can be as... Read More

© 2019 Fractovia. All Rights Reserved