Market Trends of Middle-East and Africa Halal Food and Beverage Industry
Growing Muslim Population in the Middle East
The increased demand for halal-certified products in the past few years is attributed to the growing population of Muslims and the rise in disposable income to utilize these products and services, and the same factors are expected to further augment the growth of the market over the coming years. Finally, there is greater awareness among Muslims on the need and necessity to consume only Halal food. Halal products are gaining wider recognition as they meet Sharia requirements and hygiene, sanitation, and safety aspects. Islam is now the fastest-growing religion in the world. Thus, the growing Muslim population and economic development in countries with large populations of Muslims make halal food and beverages a profitable segment to invest in to meet the demand.
Saudi Arabia Holds the Major Share in the Market
During the forecast period, Saudi Arabia is likely to be the fastest-growing country and holds the largest market share in the halal food and beverage market of the region. The country is also the largest food and beverage producer in the Gulf region. However, the rapidly increasing population has surpassed the food supply and forced the country to depend on imports, which fuels the demand for Halal food products. The Government of Saudi Arabia has been introducing new policies to support the production of more halal food. These policies are anticipated to make the country self-sufficient in food and beverage production and offer better opportunities for domestic producers to vary in livestock, such as poultry, camel, sheep, and dairy production.
