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Bonafide Research discusses growth opportunities in North American halal foods and beverages market growing at 7.45% CAGR as per latest report.
May, 14
2021

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Bonafide Research discusses growth opportunities in North American halal foods and beverages market growing at 7.45% CAGR as per latest report.

 

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North America shares about 2% in the Global halal foods and beverages market. The immigration of Muslims from the Middle East and Africa as well as the Asia Pacific region plays a crucial role in the development of the halal food and beverages market in the region and acculturation and assimilation of halal food products to the American food culture. About 80% of the halal foods and beverages market in North America is dominated by the US and plays a crucial role in driving the market forward. According to the research report published by Bonafide Research titled- North America Halal Food and Beverage Market Outlook 2026, the North American halal foods and beverages market grew by USD 8.04 Billion and is expected to further grow at a CAGR of 7.45% during the period of 2020 to 2026.

The two major North American economies that are the US and Canada are home to some of the biggest metropolitan cities in the world. As people immigrate from the Middle Eastern and African countries, and the Asian Pacific countries, food and, culinary trends also follow. The halal market in the US developed rapidly in the last few years. The Muslim migrants earlier had to resort to Kosher meat as halal meat products were not widely available. As the demand increased for halal foods and beverages products, local halal butchers started to come up. Commercial retailing of halal foods and beverages is a newly developed phenomenon in the North American halal market. As the Muslim population is increasing in the region, the penetration of halal foods and beverages products is also increasing. The major sales channels for halal foods and beverages products are the hypermarket and supermarket outlets. As these form of retail outlets caters to consumers by giving variety, new halal food and beverages products are finding a place in these stores. It has also been observed that halal food and beverages are gaining popularity among Non-Muslims too. Following the notion that halal labelled food and beverages products are healthier and are of superior quality than non-halal labelled products, Non-Muslims are consciously choosing halal products as a healthy alternative. Also, as the halal has diversified from traditional meat, poultry and, seafood products to dairy, vegetables and fruits, bakery and, other vegan options, many consumers who are shifting towards vegan lifestyles are also getting attracted to vegan halal options. The increased demand for halal labelled food by the Non-Muslims and the growing population of Muslims is creating opportunities for the regional halal food and beverages market in North America. There are a few major halal companies operating in the region including Nestle SA, American Foods Group, LLC, Midamar Corporation and Halal Snacks LLC and, many others, much of the market constitutes of smaller market players who are spread throughout the region and are primarily focused on export activities of halal foods and beverages. As domestic demand for halal foods and beverages is increasing, these smaller players have an opportunity to turn inwards and use untapped opportunities to scale their business. The region has a well-developed e-commerce system as well as robust infrastructure which can support and enable the significant growth in the region’s halal food and beverage market.