Asia-pacific Halal Food & Beverage Market Forecast 2023-2032

Asia-pacific Halal Food & Beverage Market Forecast 2023-2032

KEY FINDINGS

The Asia-Pacific halal food & beverage market is set to project a CAGR of 6.10% during the forecast period, 2023-2032. Asia-Pacific harbors the largest Muslim population globally, housing around 63% of the global Muslim population. The countries with dense Muslim populations include Myanmar, Bangladesh, India, Pakistan, and Indonesia.

MARKET INSIGHTS

India, South Korea, Australia & New Zealand, Malaysia, China, Indonesia, Japan, Thailand, and Rest of Asia-Pacific are assessed for the Asia-Pacific halal food & beverage market growth analysis.

The significant proliferation of mosques across Japan in the past two decades indicates a profound transformation in the country's religious landscape. This change can be partly attributed to the growing number of interfaith marriages between Japanese individuals and Muslims, leading to conversion to Islam. However, the primary driver of this transformation is the increased immigration from Islamic nations.

Despite constituting a small minority, Japan's Muslim population surged to 230,000 from 110,000 by the end of 2010, with approximately 50,000 Japanese converts, as reported by Tanada Hirofumi from Waseda University. The nation now boasts over 110 mosques. Furthermore, certain Muslim-majority countries, such as Indonesia and Malaysia, have eased visa requirements for visitors to Japan, encouraging more travelers from these nations to explore Japan, partly facilitated by the expansion of low-cost air travel.

Whereas Korean cuisine and snacks commonly incorporate pork and its derivatives, such as lard and bacon, with a significant portion of meat served in restaurants lacking halal certification. Nonetheless, the dining landscape is witnessing a gradual shift, thanks to the increasing number of immigrants establishing halal eateries that offer both local and national cuisines, contributing to a slow but steady transformation. Prominent examples of Muslim-friendly restaurants, like Eid and Makan Murree, which serve halal Korean and international delicacies, are situated along the renowned 'Muslim Street' in Itaewon, Seoul.

COMPETITIVE INSIGHTS

Some of the eminent companies in the market are Tariq Halal Meats, PrimaBaguz Sdn Bhd, Cargill Incorporated, etc.

Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
• Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
• Market Segmentation caters to a thorough assessment of key segments with their market estimations
• Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
• Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
• Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments