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The global halal food and beverages market size was USD 1.96 trillion in 2020. The market is projected to grow from USD 2.09 trillion in 2021 to USD 3.27 trillion by 2028, exhibiting a CAGR of 6.56% during the forecast period of 2021-2028.
Fortune Business Insights™ provides this information in its report, titled, “Halal Food and Beverages Market, 2021-2028.” According to our researchers, the growing Islamic population across the globe coupled with the rising consumer worries concerning food safety, superiority, and animal brutality have substantially upsurged the demand for halal food & beverages. Moreover, the constantly extending distribution network and the assessment in customer buying configurations are projected to further power the global market in the forthcoming years.
Commotion in Supply Chain to Hinder Market Growth amid COVID-19 Crisis
The preliminary months of the COVID-19 pandemic had disturbed all stages in the supply chain cycle of the halal food and beverage industry. The prominent manufacturers in Islamic and non-Islamic nations registered a decline in the workforce which considerably impacted the production ability. Additionally, the strike in demand for retail products such as pre-cooked and ready-to-eat meat products too adversely influenced the industry.
The affirmative progression in the customer's preferences for halal products owing to their welfare and superiority is estimated to drive the halal food and beverages market growth in the foreseeable future.
Drivers and Restraints
Increasing Islamic Population & Moving Customer Responsiveness to Fuel Market Growth
Islam is the quickest-growing religion globally, which affirmatively impacts the global demand for halal food & beverage products. As per the latest record declared by the Government of Saudi Arabia, the global Muslim population signifies about 28.26% of the total world population.
Additionally, the rising consciousness among the Muslim population concerning the requirement and inevitability to ingest only halal food predominantly powers the growth of the global market. Moreover, the growing dispensable revenue levels of the Islamic population are further anticipated to thrust the market growth during the upcoming years.
Regional Insights
Asia Pacific held the maximum halal food and beverages market share and was valued USD 1.20 trillion in 2020. The largest Islamic population is focused in the Asia Pacific region as the four biggest nations in terms of the Muslim population are situated on this continent, comprising India, Indonesia, Pakistan, and Bangladesh.
The Middle East and Africa have huge latent for the market growth as the customers in this region are principally Muslim with increasing per capita revenues.
Europe is observing significant growth in the market. Surging flexible incomes coupled with a rising Muslim population is estimated to elevate the demand for halal products.
Competitive Landscape
The major players such as Cargill, Inc., Nestle S.A., and Unilever are fixated on novel product improvements, collaborations, and procurements to associate the market. The advent of small-scale companies in this market expressively donates to the competition occurring within the market, which has an optmistic influence on the market's growth.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessins....ights.com/halal-food
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The global green coffee market size was valued at USD 34.03 billion in 2020. The market value is estimated to increase from USD 35.40 billion in 2021 to USD 47.22 billion by 2028 with a CAGR of 4.20% during the forecast period. The market is gaining momentum from the rising consumer awareness of various health benefits of the product among consumers. The product is also gaining popularity in nutraceutical products and dietary supplements. Fortune Business Insights presents this information in its report titled “Green Coffee Market, 2021-2028."
Green coffee has gained tremendous popularity across the world over the past few years. Its demand is increasing due to growing consumer inclination towards functional foods & beverages and plant-based dietary supplements. Specialty coffee varieties such as green coffee beans are attracting an enormous consumer base worldwide. With increased disposable incomes, consumers are increasingly spending on premium-quality food & beverage products. These factors will work in favor of the market expansion during the forecast timeline.
List of Key Players Profiled in the Report:
The Hamburg Coffee Company (Germany)
Neumann Kaffee Gruppe (Germany)
Merchants of Green Coffee (U.S.)
Belco S.A. (France)
Starbucks Corporation (U.S.)
Nordic Approach S.A. (Norway)
Golden Bean Trade (Brazil)
Atlantica Coffee (Brazil)
Group MAGNUS BRAZIL-The Green Coffee Brazil (Brazil)
WS Cafe (Vietnam)
Drivers & Restraints:
Growing Use in Nutraceuticals & Dietary Supplements to Boost Market Growth
The green coffee market growth is primarily driven by the increasing awareness towards the various health benefits of the product among consumers. Green coffee beans are a major source of chlorogenic acid, which is an antioxidant that can be absorbed in the body readily. High antioxidant content has thus increased the product popularity significantly. Studies have also shown that the beverage can aid weight loss. This factor is driving its adoption among obese and overweight individuals.
Attributed to the aforementioned health benefits, green coffee is being increasingly used in nutraceutical products and dietary supplements. Increased focus over healthy and immunity will thus help the market proliferate over the projected timeframe.
However, price volatility of green coffee beans could hamper the market growth to some extent.
Regional Insights:
Europe is expected to lead the global green coffee market share during 2021-2028. The region is witnessing a notable uptick in product adoption for further processing in instant coffee and roasted coffee products. Specialty coffee products are gaining popularity among health-conscious consumers across Germany, Spain, and Italy.
North America will witness growth owing to the thriving nutraceutical sector. The region is witnessing heavy usage of nutraceutical products and dietary supplements. Rise of the fitness sector and presence of major players such as Starbucks will drive the regional market forward.
Meanwhile, the market is Asia Pacific will record notable growth during the analysis period due to rising disposable incomes of consumers and increased spending on premium-quality coffee products.
Browse In-depth Summary of This Research Insight:
https://www.fortunebusinessins....ights.com/green-coff
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