Global Halal Food & Beverage Market is Exhibiting a CAGR of 6.05% by 2028

According to a new market research report published by Inkwood Research, the Global Halal Food & Beverage Market is growing at a CAGR of 6.05% over the forecast period of 2020-2028.

"Browse 40 market Data Tables and 48 Figures spread over 150 Pages, along with an in-depth TOC on Global Halal Food & Beverage Market Forecast 2020-2028".

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Islam is a globally practiced religion and has widespread its demographic boundaries from the Muslim-majority regions, namely, Egypt, Indonesia, and Saudi Arabia, to settling in minor but momentous communities present across Australia, America and Europe. Also, the new countries to embrace the growing Islamic populace are Belgium, Canada, Togo, Congo, the Netherlands and Guinea Bissau.

This demographical expansion is projected to have a wide-ranging impact on the halal food & beverage market and its consumption globally over the forecast period.

Awareness among the Non-Muslim Population is Driving the Market Growth

Demand for halal products has witnessed a flourishing boost non-exclusively in terms of the global Islamic population. Increasing consumption of halal food for hygienic and ethical reasons by the non-Muslim population has resulted in halal items becoming mainstream consumer goods. Around 16% of the global food industry portraits Halal food. The rising consumerism worldwide, an increase in the Islamic population across the globe, and the strong demand for hygienic food are the major factors responsible for driving the market growth over the forecast period. In addition to that, a rise in consumer disposable income is further anticipated to fuel the growth of the market.

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The Fastest Growing Distribution Channel - Online

The availability of halal meat online has surged its demand significantly. The meat sold on the Internet is of the premium quality and follow the same regulations and standards according to the Islamic culture. One of the prime benefits of purchasing food online is tracking. The customer can track the order from the source, which will ensure the superiority of the product. Also, online purchase provides the opportunity to select the product from a range of available options. For instance, the Tariq halal is a reputable source to buy halal meat in London. They have a variety of categories based on the preference from fresh, marinated to frozen meat delivered to the doorstep. The online purchased halal meat is compared to be less expensive, as there are discounts provided without compromising on the quality.

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Largest Region in the Global Market - Asia Pacific

Geographically, the global halal food & beverage market is led by the Asia Pacific region in terms of revenue. The region held around 48.16% of share in 2019 and is expected to record the largest growth rate over the forecasting period. The region is home to the highest chunk of the Muslim population globally. Countries such as Thailand, Myanmar, Indonesia and Singapore witness the largest Muslim population across the Asia Pacific. Rise in the literacy rate among young Muslims, growing tourism, and awareness with regards to other benefits of halal food among consumers are the prime factors accelerating the market growth in the region.

Top players operating in the global halal food and beverage market are Cargill Inc., Nema food co, Nestle, Crescent Foods and Others. The global market is optimally competitive and highly fragmented, with the presence of a significant number of players worldwide.

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