The increase in the demand for halal meat products among the young population is driving the Food and Beverages segment.

HYDERABAD, TELANGANA, INDIA, January 27, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Halal Market size is estimated to reach $341 billion by 2026, growing at a CAGR of 9.3% during the forecast period 2021-2026. Halal Certification is a method that ensures the quality of the products is according to the rules implemented by the Islamic council. Halal-certified products are increasingly being adopted among consumers across the world owing to the growing awareness about the importance of quality assurance, reliability, and food safety. The rise in the adoption of halal processed milk and other milk products in developed nations, growing demand for halal grain products, an increase in the adoption of halal meat products among the young population, rise in the demand for halal cosmetic products, and the growing investment by the key players to develop halal certified pharmaceuticals are the factors that are set to drive the growth of the Halal Market for the period 2021-2026.

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Key takeaways:

1. Geographically, the Asia-Pacific Halal Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the rise in the adoption of halal processed milk and other milk products in developed nations.

2. The increase in the demand for halal meat products among the young population is driving the Food and Beverages segment. However, high certification costs for halal products are one of the major factors that are said to reduce the growth of the Halal Market.

3. Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Halal Market report.

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Segmental Analysis:

Halal Market Segment Analysis-By Product Type : The Halal Market based on the Product Type can be further segmented into Food and Beverages, Cosmetic and Personal Care, and Others. The Food and Beverages segment held the largest share owing to the factors such as the increase in the demand for halal processed milk and natural milk products and the rise in the product launches by the key players.

Halal Market Segment Analysis - By Distribution Channel : The Halal Market based on the Distribution Channel can be further segmented into Supermarkets/Hypermarkets, Online Channels, Specialty Stores, and Others.

Halal Market Segment Analysis - By Geography : The Halal Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and Rest of World. Asia-Pacific held the largest share with 34% of the overall market in 2020.

Competitive Landscape:

The top 5 players in the Halal industry are -

1. Kellogg Company

2. Nestle SA

3. Glanbia Nutritionals

4. Clara International

5. Inika Organic

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Related Reports:

A. Halal Cosmetics Market
https://www.industryarc.com/Research/Halal-Cosmetics-Market-Research-503598

B. Halal And Kosher Empty Capsules Market
https://www.industryarc.com/Research/Halal-And-Kosher-Empty-Capsules-Market-Research-501957

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