Market Trends of Asia-Pacific Halal Food and Beverage Industry
This section covers the major market trends shaping the APAC Halal Food & Beverages Market according to our research experts:
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.
