The Asia-Pacific market for halal food and beverage is projected to register a CAGR of 5.5 %, during the forecast period (2020 to 2025).
Key Market Trends
Increasing Demand for Halal Meat Products
The migration of people from Muslim-dominated nations to other regions is a part of the vital dynamics responsible for the significantly rising Muslim population in the Asia-Pacific region. With the increase in the number of Muslims, the demand for these types of food has also increased, and this trend is anticipated to continue over the forecast period, hence, driving the market in this region. Supporting religious obligations and preserving halal identity is not only confined to meat products, but it is also gradually expanding to cover services that are involved with halal meat and meat products. This is because the halal meat concept is no longer confined to food items, only as it also includes the notion of storage, handling, packaging, transportation, and delivery.
Indonesia is the Fastest Growing Market
Indonesia has the largest Muslim population in the world and spent an aggregate USD 218.8 billion across the Islamic economy sectors in 2017. The vendors operating in the APAC market are certified by halal certification organizations and these organizations operate under the Sharia law (rules and principles that a Muslim is required to follow). Indonesia is one of the major countries in the APAC region has the largest retail sales value of soft drinks with the halal label. The government has enforced new certification with BPJPH to provide convenience, security, safety, and certainty of the availability of the halal products for the public and increasing the added value for business operations in producing and selling halal products.
Competitive Landscape
The Asia-Pacific halal food and beverage market is highly fragmented, with several players competing to gain major shares in the market. The major manufacturers operating in the market are focusing on expanding their presence and developing various flavors in various product segments, along with partnerships and mergers and acquisitions, in order to cater to the needs of the consumers. The key players are Nestle SA, American Halal Company Inc., Prima Agri-Products, Pampanga's Best Inc., and Ecolite Biotech Manufacturing Sdn Bhd, among others.
Reasons to Purchase this report:
- The rapid growth in the Islamic population and the awareness regarding halal food among the non-Muslim population are the major market drivers for the halal food and beverage market.
- The need for halal certifications by authorized bodies is strong and the certification requirements have contributed to an increase in the demand and the consumption of genuine halal food products.
- However, the production processes need to be upgraded in order to improve quality and satisfying the domestic demand and export requirements.
Key Market Trends
Increasing Demand for Halal Meat Products
The migration of people from Muslim-dominated nations to other regions is a part of the vital dynamics responsible for the significantly rising Muslim population in the Asia-Pacific region. With the increase in the number of Muslims, the demand for these types of food has also increased, and this trend is anticipated to continue over the forecast period, hence, driving the market in this region. Supporting religious obligations and preserving halal identity is not only confined to meat products, but it is also gradually expanding to cover services that are involved with halal meat and meat products. This is because the halal meat concept is no longer confined to food items, only as it also includes the notion of storage, handling, packaging, transportation, and delivery.
Indonesia is the Fastest Growing Market
Indonesia has the largest Muslim population in the world and spent an aggregate USD 218.8 billion across the Islamic economy sectors in 2017. The vendors operating in the APAC market are certified by halal certification organizations and these organizations operate under the Sharia law (rules and principles that a Muslim is required to follow). Indonesia is one of the major countries in the APAC region has the largest retail sales value of soft drinks with the halal label. The government has enforced new certification with BPJPH to provide convenience, security, safety, and certainty of the availability of the halal products for the public and increasing the added value for business operations in producing and selling halal products.
Competitive Landscape
The Asia-Pacific halal food and beverage market is highly fragmented, with several players competing to gain major shares in the market. The major manufacturers operating in the market are focusing on expanding their presence and developing various flavors in various product segments, along with partnerships and mergers and acquisitions, in order to cater to the needs of the consumers. The key players are Nestle SA, American Halal Company Inc., Prima Agri-Products, Pampanga's Best Inc., and Ecolite Biotech Manufacturing Sdn Bhd, among others.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
Table of Contents
1 INTRODUCTION
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nestle SA
- Pampanga's Best Inc.
- American Halal Company Inc.
- Prima Agri-Products
- Ecolite Biotech Manufacturing Sdn Bhd
- Noor Pharmaceuticals LLC
Methodology
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