North America Halal Food & Beverage Market Forecast 2023-2032

North America Halal Food & Beverage Market Forecast 2023-2032

KEY FINDINGS

The North America halal food & beverage market growth is anticipated to progress at a CAGR of 5.55% during the forecast period, 2023-2032. The rising immigration of Muslims is a major growth driver. Whereas the presence of several halal meat exporters and multinational manufacturers of halal food & beverage products boosts market prospects.

MARKET INSIGHTS

Canada and the United States are analyzed for the North America halal food & beverage market growth analysis. According to a recent study titled ""The Future of The Global Muslim Population,"" the projected number of Muslims living in Canada is expected to surpass 2.7 million by the year 2030, constituting approximately 6.6% of the country's total population. Presently, the Muslim community comprises 2.8% of the nation's total population. In 2021, Islam stood as the second most frequently declared religion in Canada, with nearly 1.8 million adherents, accounting for approximately 1 in 20 individuals, trailing behind Christianity. Over the past two decades, the proportion of Muslims in Canada has grown significantly, more than doubling from 2.0% in 2001 to 4.9% in 2021.

The ongoing global pandemic continues to pose challenges to the food service sector, impacting halal Canadian restaurants. To alleviate the situation, the Halal Monitoring Authority (HMA), the sole certifying organization in Canada that oversees the entire halal process, has assumed the associated costs of supporting halal restaurateurs in the country. In light of the escalating demand for halal food in Canada, the HMA is actively seeking ways to assist its members and sustain the growth of this community. This rising demand is driven by consumers seeking healthy and secure products, as well as the Muslim population.

To cater to the increasing demand for certified halal products, both new and established franchising businesses are expanding their market presence in Canada. This trend reflects the growing significance of the halal market and the desire to meet the preferences of health-conscious consumers and the Muslim community alike.

COMPETITIVE INSIGHTS

Some of the leading players in the market are American Foods Group LLC, One World Foods, Crescent Foods, 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