Halal Food Market – Industry Trends
Data Bridge Market Research analyses that the global halal food market will project a CAGR of 11.6% for the forecast period of 2021-2028. Growth and expansion of the food and beverages industry, surging awareness in regards to the health benefits of halal products, rising consumer consciousness towards high quality nutritional food products, and increasing personal disposable income by the major companies are the major factors attributable to the growth of halal food market.
From the name itself, it is clear that halal food items are the food products that are prepared by strictly adhering to the Islamic dietary law. Halal food products are clean, safe and highly nutritional. Blood, pork and by-products of blood and pork are not considered as halal food. The halal food items are packaged and stored in utensils, which have been cleaned as per the prescribed guidelines.
Rising Muslim population and surge in the awareness about the nutritional benefits of halal food products are the major factors fostering the growth of the market. Changing lifestyle, growth in the penetration of online shopping especially in the developing economies and rising focus of the manufacturers on widening the product portfolio are other important factors acting as market growth determinants.
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