Food and Beverages Industry Report Halal Market Drivers and Growth 2024

Your CatalystTo a Lucrative Business The demand for qualified halal products among non-Muslim customers has been on the upsurge as more consumers are looking for high superiority, safe and righteous products. Non-Muslim consumers in Asia Pacific are likely to play a vital role in driving the regional market making it the second largest marketplace after the Middle East, contributing to 30.9% of the global revenues by 2024. The Islamic economy is being driven primarily by the increasing youth population with high disposable incomes. These factors are likely to drive various segments of the halal market inc luding fashion, food, finance, travel, and media & recreation. Moreover, increasing availability of these products & services is expected to fuel the growth of the market over the projected period. Keeping in mind the growth of the global halal industry, several food companies including KFC and Nestle are offering halal products to their Muslim consumers. The emergence of Islamic finance institutions offering finance and banking assets are expected to provide further impetus to businesses that are focusing on venturing into the halal industry, thereby resulting in tremendous growth of the global halal industry over the next few years. Hexa Research has segmented the global halal market based on product and region: Segmentation by product, 2014 - 2024 (USD Billion) • Food & Beverages • Travel • Media & Recreation • Finance • Fashion • Pharmaceutical • Cosmetics Segmentation by region, 2014 - 2024 (USD Billion) • Americas • U.S. • Europe • Turkey • Russia • Asia Pacific • Indonesia • India • Middle East • Saudi Arabia • Iran • Africa Key players analysed: • Diana Kotb • INAYAH • Al-Rajhi Bank Follow Us:

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