Summary Global Halal Market Size www.adroitmarketresearch.com
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The Asia Pacific region and growing demand for halal goods are expected to drive the global halal market to reach USD 3.0 trillion by 2029.
Slides
Slide Presentation (6 slides)
Key Points
- The global halal market size is expected to reach close to USD 3.0 trillion by 2029 with an annualized growth rate of 5.6%.
- Halal food refers to foods and beverages that are prepared according to the Islamic dietary law's rigorous guidelines.
- Increasing disposable income in leading Islamic nations like Indonesia, Malaysia, India, Pakistan, Nigeria, and Iran is predicted to expand the worldwide halal products market.
- Halal food items have become popular among both Muslim and non-Muslim consumers as they assure food safety, hygiene, and reliability.
- The Asia Pacific accounted for the largest market share in the total halal market, driven by the large religious and cultural population.
- The rising demand for halal goods across the globe is aiding the growth of the market.
- The growth in online shopping is expected to catalyze the market growth further.
- The global halal industry is fragmented in nature with numerous manufacturers operating in the market.
Summaries
25 word summary
The global halal market is projected to reach USD 3.0 trillion by 2029, driven by the Asia Pacific region and increasing demand for halal goods.
86 word summary
The global halal market is expected to reach USD 3.0 trillion by 2029, growing at a rate of 5.6% annually. Halal food is gaining popularity among Muslim and non-Muslim consumers due to its adherence to Islamic dietary laws and symbol of food safety. The Asia Pacific region dominates the market, driven by its large religious and cultural population. The emergence of halal-friendly hotels in non-Muslim countries provides opportunities for the halal tourism industry. Increased awareness and demand for halal goods will continue to drive market growth.
127 word summary
The global halal market is projected to reach USD 3.0 trillion by 2029, growing at a rate of 5.6% annually. Halal food, prepared according to Islamic dietary laws, is gaining popularity among Muslim and non-Muslim consumers as a symbol of food safety and reliability. The market is driven by increasing disposable income in leading Islamic nations, such as Indonesia, Malaysia, India, Pakistan, Nigeria, and Iran. The Asia Pacific region holds the largest market share, fueled by its large religious and cultural population. Additionally, the emergence of halal-friendly hotels in non-Muslim countries presents opportunities for the halal tourism industry. The market is fragmented, with numerous manufacturers operating in the industry. The global halal market is expected to continue growing due to increased awareness and demand for halal goods.
413 word summary
The global halal market size is expected to reach close to USD 3.0 trillion by 2029 with an annualized growth rate of 5.6%. Halal food refers to foods and beverages that are prepared according to the Islamic dietary law's rigorous guidelines. Halal food is packaged and stored in utensils that have been cleansed according to strict rules. Increasing disposable income in leading Islamic nations like Indonesia, Malaysia, India, Pakistan, Nigeria, and Iran is predicted to expand the worldwide halal products market in the future years.
Halal food items have become popular among both Muslim and non-Muslim consumers as they have evolved from being an identification mark of religious observation to assurance of food safety, hygiene, and reliability. Technological advancement and investment in the global halal industry are expected to increase its market concentration. Manufacturers operating in this industry are expanding their operations in developing countries in order to capture the untapped market.
The Asia Pacific accounted for the largest market share in the total halal market. The Asia Pacific was the leading market for halal food in 2020, and during the forecast period, the region is expected to provide market sellers several opportunities for growth. The market growth in the Asia Pacific can be attributed to the large religious and cultural population of the region that demands halal food. Moreover, the emergence of halal-friendly hotels in non-Muslim countries such as Thailand is expected to provide a potential opportunity for the halal tourism industry.
The rising demand for halal goods across the globe is aiding the growth of the market. Increased customer awareness regarding the product is also supporting the market growth. The growth in online shopping is expected to catalyze the market growth further. The global halal industry is fragmented in nature as a large number of halal products manufacturers are operating in this market.
To summarize, the global halal market is projected to reach a value of USD 3.0 trillion by 2029, with a growth rate of 5.6%. Halal food refers to foods and beverages prepared according to Islamic dietary laws. Increasing disposable income in leading Islamic nations and the growing demand for halal products among both Muslim and non-Muslim consumers are driving market growth. The Asia Pacific region holds the largest market share, driven by the large religious and cultural population. The market is fragmented, with numerous manufacturers operating in the industry. Overall, the global halal market is expected to continue growing due to increased awareness and demand for halal goods.