Halal means ‘permissible’ according Sharia Law or Islamic law. Food and beverages made by abiding these laws are called as halal food and beverages. Halal food and beverages contain grain products, milk and milk products, meat and alternatives and fruits and vegetables manufactured according to the Islamic laws. Though, these products do not contain pork, alcoholic beverages or flavorings, and non-halal animal extracts. Major factor driving the growth of the global halal food and beverage market is rising demand for halal food products from the rapidly growing Muslim population in the world.
The global halal food and beverage market has been segmented on the basis of product type, distribution channel, and region. On the basis of product type, the market is segmented into grain products, milk and milk products, meat and alternatives, fruits and vegetables, and others. Meat and alternatives segment accounts for a major share in terms of revenue in the global market. Regular consumption of meat and meat products among consumers is a key factor, fueling the growth of the meant and alternatives segment. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, grocery stores and department stores, and online stores. The online store segment is expected to witness a lucrative growth in terms of revenue in the near future, due to an increasing preference for online shopping and availability of the wide range of halal products online.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, market in Asia Pacific is dominating the global market in terms of revenue and expected to maintain its dominance over the forecast period, owing to the presence of the large Muslim population in many countries in the region. The Middle East and Africa market is expected to witness a high growth in terms of revenue in the near future, due to increasing awareness regarding halal food and beverages among individuals. Market in North America also anticipated to witness a lucrative growth in terms of revenue, followed by Latin America and Europe.
Key players operating in the global halal food and beverage market include Nestlé S.A., Kellogg Company, Glanbia Cheese Ltd, Guenther Bakeries UK Ltd, Royal Unibrew A/S, Cargill, Incorporated, NEMA Beverage Corporation, Midamar Corporation, Namet Gida Sanayi Ve Tic AS, and Banvit Foods Srl.