Halal Food Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2020-2024

  • Published: Oct 2020
  • Pages: 120
  • SKU: IRTNTR43716

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The halal food market size is expected to grow by USD 624.52 bn and record a CAGR of 7% during 2020-2024.

This post-pandemic global halal food market report has assessed the shift in consumer behaviour and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this halal food market analysis report, key drivers such as increasing consumer expenditure on halal food have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges that will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Halal Food Market Size be in 2020?

Halal-Food-Market-Market-Size-2019-2024

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Who are the Key Vendors in the Halal Food Market?

The halal food market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies including:

 

  • Al Islami Foods
  • BRF SA
  • Cargill Inc.
  • Flying Trade Ltd.
  • Kawan Food Berhad
  • Midamar Corp.
  • Nestle SA
  • Tahira Foods Ltd.
  • The American Halal Co. Inc.
  • Unilever Group

 

The halal food market is fragmented and the vendors are deploying various growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

This halal food market report further entails segmentations by Product (Halal meat, poultry, and seafood, Halal bakery, confectionery, and cocoa, Halal fruits, vegetables, and nuts, Halal beverages, and Others), Geography (APAC, MEA, Europe, South America, and North America), and Distribution channel (offline and online). View our sample report to gather market insights on the segmentations.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. Fetch actionable market insights on post COVID-19 impact on each product and service segments.

 

Which are the Key Regional Markets for Halal Food Market?

Halal-Food-Market-Market-Share-by-Region-2019-2024

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The report offers an up-to-date analysis of the geographical composition of the market. APAC had the largest market share in the halal food market in 2020, and the region will offer several growth opportunities to market vendors during the forecast period. The introduction of blockchain will significantly influence biofuels market growth in this region. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

51% of the market’s growth will originate from APAC during the forecast period. Indonesia, Turkey, Pakistan, Egypt (Arab Republic of Egypt), and Bangladesh are the key markets for halal food market in the region. This report provides estimations of the contribution of all regions to the growth of the halal food market size.

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What are the Key Factors Covered in this Halal Food Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive halal food market growth during the next five years
  • Precise estimation of the halal food market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the halal food market industry across APAC, MEA, Europe, South America, and North America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of halal food market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The halal food market growth will increase by $624.52 billion during 2019-2024.
The halal food market is expected to grow at a CAGR of 7.09% during 2019-2024.
Technavio has segmented the halal food market by product (Halal meat, poultry, and seafood, Halal bakery, confectionery, and cocoa, Halal fruits, vegetables, and nuts, Halal beverages, and Others) and geographic (APAC, MEA, Europe, South America, and North America).
Al Islami Foods, BRF SA, Cargill Inc., Flying Trade Ltd., Kawan Food Berhad, Midamar Corp., Nestle SA, Tahira Foods Ltd., The American Halal Co. Inc., Unilever Group are a few of the key vendors in the halal food market.
APAC will register the highest growth rate of 51.35% among the other regions. Therefore, the halal food market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • Indonesia
  • Turkey
  • Pakistan
  • Egypt (Arab Republic of Egypt)
  • Bangladesh
The key factors driving the halal food market growth are:
  • Increasing consumer expenditure on halal food
The halal food market vendors should focus on grabbing business opportunities from the halal meat, poultry, and seafood segment as it accounted for the largest market share in the base year.
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