Halal Food Market to Grow by USD 624.52 Billion and Record a CAGR of Over 7%| Technavio

NEW YORK, April 21, 2021 /PRNewswire/ —
Technavio has been monitoring the halal…

NEW YORK, April 21, 2021 /PRNewswire/ —

Technavio has been monitoring the halal food market and it is poised to grow by USD 624.52 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a high impact on the halal food market.

Frequently Asked Questions:

  • Based on segmentation by the product, which is the leading segment in the market?

    Halal meat is the leading segment in the market.
  • At what rate is the market projected to grow?

    The market is projected to accelerate at a CAGR of over 7%.
  • Who are the top players in the market?

    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., and Unilever Group are the top players in the market.
  • What are the key market drivers and challenges?

    The market is driven by the increasing consumer expenditure on halal food. However, increasing threats from fake halal food will hamper the market growth.
  • How big is the APAC market?

    51% of the market’s growth will originate from APAC during the forecast period.

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 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., and Unilever Group are some of the major market participants. Although the increasing consumer expenditure on halal food will offer immense growth opportunities, the increasing threat from fake halal food is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this halal food market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Halal Food Market 2020-2024: Segmentation

Halal Food Market is segmented as below:

  • Product
    • Halal Meat, Poultry, And Seafood
    • Halal Bakery, Confectionery, And Cocoa
    • Halal Fruits, Vegetables, And Nuts
    • Halal Beverages
    • Others
  • Geography
    • APAC
    • MEA
    • Europe
    • South America
    • North America
  • Distribution channel
    • Offline
    • Online

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43716

Halal Food Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The halal food market report covers the following areas:

  • Halal Food Market Size
  • Halal Food Market Trends
  • Halal Food Market Industry Analysis

This study identifies the introduction of blockchain as one of the prime reasons driving the Halal Food Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

Halal Food Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist halal food market growth during the next five years
  • Estimation of the halal food market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the halal food market across APAC, MEA, Europe, South America, and North America
  • 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

Related Reports on Consumer Staples Include:

Global Meat Market– The meat market is segmented by product (pork, poultry, beef, and others), type (processed and fresh), and geography (Europe, APAC, North America, South America, and MEA). Download FREE Sample Report

Frozen Food Market in Europe– The frozen food market in Europe is segmented by the product (frozen ready meals, frozen fish and seafood, frozen meat and poultry, frozen fruits and vegetables, and others) and geography (Western Europe and Eastern Europe). Download FREE Sample Report

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Product

  • Market segments
  • Comparison by Product
  • Halal beverages – Market size and forecast 2019-2024
  • Others – Market size and forecast 2019-2024
  • Market opportunity by Product

Market Segmentation by Distribution channel

  • Market segments
  • Comparison by Distribution channel
  • Offline – Market size and forecast 2019-2024
  • Online – Market size and forecast 2019-2024
  • Market opportunity by Distribution channel

Customer landscape

  • Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • North America – Market size and forecast 2019-2024
  • Impact of COVID-19 pandemic on the market
  • Key leading countries
  • Market opportunity by geography
  • Volume drivers – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • 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

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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