Halal Products Market: Nestle S.A being the Top Market Player | Trends 2024

The global halal products market is a highly lucrative market with meat and processed food and beverage segments being the most attractive market in 2015. This market is also a highly diversified market ranging from food and beverage products to personal care and pharmaceutical products. The major companies operating in the field of halal foods captured a major portion of the market since halal food and beverages dominated the market in 2015. However, due to the absence of global halal standards, the major outlook of the companies is to get the halal certification from the regulatory organization from each country separately.

Download PDF Brochure at http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=16643

Global Halal Products Market: Drivers and Restraints

Growing Muslim population is one of the prime factors pushing the demand for halal products market at present. This is due to the fact that hala products market is not confined to food and beverages, since it has expanded into personal care, and pharmaceutical industries as well. It is estimated that 26.4% of the global population is expected to be Muslims by 2030 as compared to 19.9% in 1990. The growth rate is much faster compared to other religions. In addition to this, rising purchasing power of the Islamic countries due to the rapid growth in their economy, especially in Middle East and South East Asia is a major contributing factor to the growth of this market. Further, consumption of hala products among the non-muslim population is also on the rise.

Improvement of the retail sector is another major factor which is the currently driving the demand for halal products market across the globe. This was possible post improvement in the halal certification standards and the retail outlets selling halal certified products. Further, high degree of globalization and multilateral trade agreements has boosted the trade flow of halal products. This factor would ensure the smooth flow of halal products in the market.

However, the lack of uniformity for halal standards is a major factor barring the growth of the market. The Islamic regulatory bodies of different countries are different due to which the definition of halal may be different in different countries. Due to this, products accepted by the Halal Certification Board of one country may not be accepted in other countries.

Global Halal Products Market: Trends and Opportunities

However, the manufacturing of halal products is relatively slow in most of the countries with high demand. Due to the small scale manufacturing of halal products, most of the countries with high demand for high demand for halal products are heavily dependent on imports from other countries. In order to reduce the over dependency on imports, the Government of some of the countries with high Muslim population (or high halal demand) is offering lucrative incentive to companies to manufacture halal products and promote the use of halal certified goods. This factor would pose to be a suitable opportunity for the growth of the halal products market at the global level.

Browse Report: http://www.transparencymarketresearch.com/halal-products-market.html

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

US Office Contact

90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com

This release was published on openPR.