Halal Food and Beverage Market to Signify Strong Growth by 2024-2031

The global halal food and beverage market is expected to grow at a CAGR of 5.5% during the forecast period. Muslims are the fastest-growing religious group in the world. Around 25% of the global population is Muslim and is the world’s second-largest religion after Christianity and most of the Muslims live in Asia-Pacific. This, in turn, is driving the demand for halal products as Muslims prefer to consume halal products. Halal meat is considered healthier as after slaughter the blood is drained from the animal’s body, which removes all toxins and becomes bacteria-free. Also, halal meat is free from antibiotics, preservatives and other chemicals. As a result, the demand for halal meat is growing significantly in several countries. Further, the market players are focusing on strategic initiatives such as mergers and acquisitions, new product launches, and others.

Recent Strategic Initiatives

• In February 2022, Chicken Cottage IP Limited entered the East-African market by doing a partnership with kitchen express by taking their franchise. The deal will introduce a fusion menu of halal grilled and fried chicken to Kenya, Rwanda, Tanzania, and Uganda consumers.
• In August 2021, Tanmiah Food Co., Saudi Arabia’s number two poultry producer, has plans to take its halal products into new markets after its initial public offering (IPO), in which it raised $107 million. The company is looking to expand not only locally, however, regionally and globally too and targeting 1.8 billion Muslims around the world with its expansion. It hopes to expand to the US, Europe, Asia and Latin America. The company doubled production six times over the past five years and has a 17.6% share of the Saudi poultry market. 

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031

Segment Covered- 

• By Product
• By Distribution Channel

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World
• Competitive Landscape- Nestlé S.A., Cargill, Inc., American Foods Group, LLC, Unilever plc, and JBS SA.

A full Report of Halal Food and Beverage Market is Available @  https://www.omrglobal.com/industry-reports/halal-food-and-beverage-market

Halal Food and Beverage Market Report by Segment

By Product

• Meat and alternatives
• Milk & Milk Products
• Fruits & Vegetables
• Grain Products
• Others

By Distribution Channel

• Hypermarket & Supermarket
• Departmental Store
• Online

Halal Food and Beverage Market Report by Region

North America                                                                                                           

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America
• Middle East and Africa 

Company Profiles 

• Al Islami Foods
• Azan International
• BRF S.A.
• Crescent Foods Inc.
• DagangAsia Network Holding Sdn. Bhd.
• Ferrero International SA
• Kawan Food Manufacturing Sdn. Bhd.
• Midamar Corp.
• One World Foods Inc.
• QL Foods Sdn. Bhd.
• Rosen's Diversified, Inc.
• Tahira Foods Ltd.

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Article source: https://article-realm.com/article/Food-Beverage/63835-Halal-Food-and-Beverage-Market-to-Signify-Strong-Growth-by-2024-2031.html