Halal Food Market 2018 - Industry Growth, Analysis, Size and Share To 2026Posted by Aman Jain on July 12th, 2019 Global Halal Food Market – Insights The term “Halal” is defined as permissible and in alteration it is used as lawful. Halal food is prepared following Islamic dietary laws and regulations that determines what is lawful, clean, and permissible. Global halal food market is driven by factors such as increasing Muslim population coupled with improvement in supply chain in the retail sector. To know the latest trends and insights prevalent in this market, click the link: https://www.coherentmarketinsights.com/market-insight/halal-food-market-2700 According to the World Health Organization (WHO), the global Muslim population is expected to grow twice as fast as non-Muslims by 2030. By 2030, Muslims are expected to comprise over a quarter of the global population. Moreover, according to the WHO, the global population of Muslims was around 2 Bn in 2017. The increasing use of halal products by the general population globally is driving growth of the global halal food market over the forecast period. Lack of global regulatory body for certification of halal food products is expected to restrain growth of the halal food market in the near future. New halal standards are being developed by the European Committee for Standardization (CEN) for halal-based products, so as to prevent individual member states from creating their own national halal standards. However, several EU nations are against un-stunned slaughter that is used in halal food. Countries such as Denmark, Norway, Latvia, and Sweden ban slaughter without stunning. This in turn, is expected to affect growth of the halal food production, thus hampering growth of the global halal food market. Download PDF with Recent all Updates & Trending Key Players: https://www.coherentmarketinsights.com/insight/request-pdf/2700 The global halal food market was valued at US$ 715.0 Bn in 2018, and is expected to register a CAGR of 12.7%, in terms of revenue over the forecast period (2019 to 2027), to reach US$ 2,043.2 Bn by 2027. Among distribution channel, the supermarket segment accounted for the largest revenue share of 44.6% in 2018, in the global halal food market. Growing presence of supermarket chains is fueling growth of the segment. For instance, according to United States Department of Agriculture (USDA) 2017, report, the total number of supermarkets in Egypt were 1,056 in 2016, and it is increased to over 1,215 in 2017. Moreover, promotional and marketing activities in the form of offering lucrative discounts on products, wide variety of products to choose from, and fair presence of private label products are some of the key factors attributing to the rapid growth of this segment. Major players operating in the global halal food market include Cargill Inc., Al Islami Foods, QL Resources Sdn Bhd, Haoyue Group, Kawan Food Berhad, BRF S.A., and Saffron Road Food. About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysisthrough various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity. Contact Us: Mr. Shah Coherent Market Insights 1001 4th Ave, #3200 Seattle, WA 98154 Tel: +1-206-701-6702 Like it? Share it! More by this author |