Outlook of the halal food market in Europe
Technavio’s market research analyst estimates the market for halal food in Europe to grow at a CAGR of around 14% during the forecast period. Since the market for halal food products is expanding, their demand and range of new varieties will also increase with time. Also, the recent rise in the demand for healthy and fresh food among the non-Muslim population will aid in the growth of this during the predicted period.
Growing awareness about halal food products and methods of animal slaughter will have a positive impact on the market. For instance, in 2013, the Netherland government asked the European Commission (EC) to label non-stunned meat. According to the government, there should be transparency in the slaughter method employed so that the religious belief of the consumers is not harmed.
Product-type segmentation of the halal food market in Europe
- Fresh food
- Frozen food
- Grocery
- Dairy
In this market study, analysts have estimated the fresh food segment to dominate the market for halal food products in Europe. In this segment, the demand for fresh meat is high as most companies adhere to the Islamic method of animal slaughter, as per the Sharia law. Furthermore, with the introduction and the high popularity of halal processed foods like ravioli and lasagna, it is estimated that the demand for processed halal food will rise steadily during the forecast period.
Segmentation by distribution channel and analysis of the halal food market in Europe
- Traditional retailers
- Hypermarkets and supermarkets
Technavio’s market research analyst has estimated the traditional retailers segment, which includes meat shops and open markets, to dominate the market for halal food products in Europe. Since these shops are primarily located in communities with a large Muslim population, the demand for halal food products from such shops and markets will be high.
Competitive landscape and key vendors
The halal food market in Europe is fragmented because of the presence of numerous small and large vendors. Increasing competition in this market may lead to suppliers reducing their product prices, which in turn could have a negative impact on their profit margins.
Leading vendors in the market are -
- Nestlé
- Tahira Foods
- Casino
- Tariq Halal
- Carrefour
- Isla Délice
Some of the other prominent vendors of the market are Pure Ingredients, Reinert Group, Al-Falah Halal Foods, Cleone Foods, Crown Chicken, Eggelbusch, Euro Foods Group, Shaheen Foods, Sickendiek Fleischwarenfabrik, Tesco, Marks & Spencer, and Sainsbury's.
Key questions answered in the report
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the halal food market in Europe?
- What are the key market trends that impact the growth of the halal food market in Europe?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the halal food market in Europe?
- What are the key outcomes of the five forces analysis of the halal food market in Europe?
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