Food and Beverages Industry Report Halal Food Market Outlook

Your CatalystTo a Lucrative Business
Halal Food Market Size, Analysis, Growth, Trends,Competitive
Strategiesand Forecasts to 2024 | Hexa Research
“The global Halal Food Market is expected to reach
USD 2.55 trillion by 2024”
The global Halal Food Market is anticipated to reach USD 2.55 trillion by 2024 driven by the rising demand
for the consumption of halal meat which is healthy and made in a hygienic manner. The growing awareness
of halal food and its positioning as hygienic and healthy food among both Muslim and non -Muslim
community is expected to drive the demand over the forecast period.
Asia Pacific has the highest market share in terms of revenue and is projected to maintain its dominance in
the market over the forecast period. Increasing Muslim population and the growing awareness among
consumers in Asia Pacific countries such as Pakistan, India, and Bangladesh, Indonesia, Singapore, and the
Philippines are expected to drive the market over the forecast period.
The absence of a uniform halal standard across countries makes it challenging for vendors to ge t their
products halal certified. Besides, the market is fragmented in nature, which makes it further challenging for
multiple vendors to operate in different countries. In the market, there is also a need for an oversight on the
halal food industry considering the halal meat scandals in Europe and North America regions.
Processed food & beverages dominated the market in 2016 and are expected to maintain its leading position
over the forecast period as well. Food & beverages segment was followed by bakery products segments and
confectionary segments. Over the forecast period, bakery products segment is expected to grow at a CAGR of
9.6% with an increasing demand for ready to eat and packaged bakery products such as cookies, doughnuts,
savoury pastries, pretzels, biscuits and cakes.
Browse Details of Report @ https://www.hexaresearch.com/research-report/global-halal-food-market
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