Halal Products Market Growth 2018-2026 |Key Players Nestle S.A., The Coca Cola Company, Kellogg's Company, Krafts Food Group Inc.

The recent past has witnessed a rampant rise in demand for halal-certified products. This is mainly attributed to rampant growth in demand from end-use industries such as meat, beverages, and processed food. The halal products market is also diversifying from food segment to healthcare, pharmaceutical, toiletries, and other personal care products. The growth of Muslim population is the major driving factor of this market. Moreover, the rising development in the East and South East Asian countries has led to the increase in purchasing power among the population, further, augmenting the growth of Halal products market.

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Pharmaceuticals and Cosmetics are the new addition to the Halal Products market along with health supplements. For instance, L’Oreal has obtained halal certification for its ingredients to cater the demands. Moreover, the online platform has seen major growth due to increased smart phone penetration in the emerging countries.

Asia pacific market is expected to show significant growth during the forecast period owing to the rise in the Muslim population. Moreover, the growth of retail sector in countries like India, China, Malaysia, and Indonesia are further increasing the growth of Halal products in Asia pacific.

The major players are adopting various organic and inorganic growth strategies. For instance, in 2014, Warees Halal, a division of MUIS’ subsidiary Warees Investments Pte Ltd, has been given the task of helping companies to attain certification and carries out audits for MUIS. The major players in the Halal product 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.

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This release was published on openPR.