Latest
industry research report on: Global Halal Products Market | Industry
Size, Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
The global halal
products market
is a highly lucrative market with meat and processed food and
beverage segments being the most attractive market in 2015. This
market is also a highly diversified market ranging from food and
beverage products to personal care and pharmaceutical products. The
major companies operating in the field of halal foods captured a
major portion of the market since halal food and beverages dominated
the market in 2015. However, due to the absence of global halal
standards, the major outlook of the companies is to get the halal
certification from the regulatory organization from each country
separately.
Global
Halal Products Market: Drivers and Restraints
Growing
Muslim population is one of the prime factors pushing the demand for
halal products market at present. This is due to the fact that hala
products market is not confined to food and beverages, since it has
expanded into personal care, and pharmaceutical industries as well.
It is estimated that 26.4% of the global population is expected to be
Muslims by 2030 as compared to 19.9% in 1990. The growth rate is much
faster compared to other religions. In addition to this, rising
purchasing power of the Islamic countries due to the rapid growth in
their economy, especially in Middle East and South East Asia is a
major contributing factor to the growth of this market. Further,
consumption of hala products among the non-muslim population is also
on the rise.
Improvement
of the retail sector is another major factor which is the currently
driving the demand for halal products market across the globe. This
was possible post improvement in the halal certification standards
and the retail outlets selling halal certified products. Further,
high degree of globalization and multilateral trade agreements has
boosted the trade flow of halal products. This factor would ensure
the smooth flow of halal products in the market.
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However, the lack of uniformity
for halal standards is a major factor barring the growth of the
market. The Islamic regulatory bodies of different countries are
different due to which the definition of halal may be different in
different countries. Due to this, products accepted by the Halal
Certification Board of one country may not be accepted in other
countries.
Global Halal Products
Market: Trends and Opportunities
However, the manufacturing of
halal products is relatively slow in most of the countries with high
demand. Due to the small scale manufacturing of halal products, most
of the countries with high demand for high demand for halal products
are heavily dependent on imports from other countries. In order to
reduce the over dependency on imports, the Government of some of the
countries with high Muslim population (or high halal demand) is
offering lucrative incentive to companies to manufacture halal
products and promote the use of halal certified goods. This factor
would pose to be a suitable opportunity for the growth of the halal
products market at the global level.
Global Halal Products
Market: Segmentation
The market for global halal
products is segmented on the basis of product types into primary
meat, processed food and beverages, pharmaceuticals, cosmetics and
personal care and others. In term of revenue, primary meat and
processed food accounted for the major market share in 2015 and is
expected to witness a major surge in its demand by the end of the
forecast period. Pharmaceuticals held the second largest market share
in 2015, but the market is expected to witness a drastic decline by
the end of the forecast period.
On the basis of region, Asia
Pacific and Middle East and Africa accounted for more than 85% of the
total market in 2015 and they are expected to continue dominating the
market throughout the forecast period.
Some of the key players
operating in the field of halal products market include Nestle S.A.,
The Coca Cola Company, Kellogg’s Company, Krafts Food Group Inc.,
Unilever Plc, GlaxoSmithKline Plc and L’Oreal S.A. among others.
Global Halal Products
Market: Scope of the Report
The report has been segmented
by product type, and geography and it includes drivers, restraints
and opportunities (DRO’s), halal certification, halal standards,
market attractiveness by products of the global halal products
market. The study highlights current market trends and provides
forecast from 2016 to 2024. We have featured the current market
scenario for the global halal products market market and identified
future trends that will impact demand for hala products during the
forecast period.
The global halal products
market has been segmented into following types based on their product
types including primary meat, processed food and beverages,
pharmaceuticals, cosmetics and personal care and other halal
products.
The global halal products
market can be segmented as follows;-
Global Halal Products
Market, by Product Type
- Primary Meat
- Processed Food and Beverages
- Pharmaceuticals
- Cosmetics
- Personal Care
- Other Halal Products
Global Halal Products
Market, by Geography
- North America
- U.S.
- Rest of North America
- Europe
- U.K.
- Germany
- France
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- ASEAN
- Rest of Asia Pacific
- Middle East and Africa
- GCC
- Egypt
- Turkey
- Rest of Middle East and Africa
- Latin America
- Brazil
- Rest of North America
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