Bangladesh Halal Food & Beverage Market Overview, 2027

"The Bangladeshi Muslim population's dietary choices and religious requirements are met by the growing Bangladesh Halal Food & Beverage Market. Food and drinks that are manufactured and prepared in compliance with Islamic principles and regulations are referred to as halal. Bangladesh, a country with a large Muslim population, has a long legacy of Halal cuisine. Bangladesh's Halal product culture is a reflection of the Muslim community's religious practices and beliefs, emphasizing the value of eating Halal-certified goods. Drivers of the Bangladesh Halal Food & Beverages Market include the significant Muslim population, religious and cultural practices, and the growing awareness and demand for Halal products. The market's innovation is driven by the development of Halal-certified production facilities, ingredient sourcing, and packaging solutions that comply with Halal standards. In terms of innovation, the Bangladesh Halal Food & Beverages Market focuses on product diversification, including a wide range of Halal-certified food and beverage options that cater to local tastes and preferences. Bangladesh is emerging as a Halal tourism destination, attracting Muslim travelers seeking Halal-certified food and beverages. The market caters to the needs of Halal-conscious tourists, offering a wide range of Halal dining options. According to the report, “Bangladesh Halal Food & Beverages Market Overview, 2027” published by Bonafide Research, Bangladesh has one of the largest Halal food markets in the world. With a significant Muslim population, the demand for Halal food and beverages is consistently high. Bangladesh has a diverse culinary heritage, offering a wide range of delectable Halal dishes. From traditional Bengali cuisine to fusion dishes, the market showcases the country's rich food culture and culinary traditions. Bangladesh has a dedicated authority, the Islamic Foundation Bangladesh, which ensures the Halal compliance of food and beverage products. The authority plays a vital role in maintaining the authenticity and integrity of Halal products in the market. The Bangladesh Halal Food & Beverages Market has significant export potential. The country is known for exporting Halal products to various global destinations, serving the needs of Muslim consumers worldwide, and contributing to the country's economy. Bangladesh is renowned for its vibrant street food culture, offering a plethora of Halal street food options. From mouth-watering snacks to traditional desserts, the street food scene in Bangladesh is a treat for food enthusiasts. The Bangladesh Halal Food & Beverages Market emphasizes quality and hygiene standards. The market encourages food producers and establishments to maintain high-quality practices to ensure consumer satisfaction and food safety.

The market has witnessed substantial growth in the Halal food industry, with the establishment of specialized Halal food processing facilities and an increasing number of Halal-certified food establishments. Technological advancements in halal food items are key trends gaining popularity in the Halal market. With the increasing demand for halal foods, halal laboratories are actively engaged in food safety, and analysis of food products for maintaining quality standards to detect the presence of porcine material or alcohol, blockchain, and the Internet of Things (IoT) are the technological advancements that strengthen the market. Blockchain platform offers transparency in the halal economy and allows tracing the origin of halal food products. Further, the expenditure on food products from Muslim countries across the country has registered substantial growth in the past couple of years, strongly accelerating the halal food and beverage products market. The market is witnessing innovation in Halal food and beverage products, including the development of new Halal-certified ingredients, flavors, and ready-to-eat convenience items. This innovation aims to meet the evolving preferences of consumers. The Bangladesh Halal Food & Beverages Market fosters community engagement through events and initiatives that promote Halal products and raise awareness about the importance of Halal compliance in the food industry. The value of meat, poultry, and seafood products is the largest in the market due to its worldwide reach and popularity. Emerging economies are expected to contribute profoundly to the growth of the halal meat and poultry industry due to rising incomes and healthy eating trends among consumers. The growing demand for packaged processed meat products as they are considered hygienic and high-quality products is expected to fuel the segmental growth in the foreseeable years. The key manufacturers are investing in better technologies of meat preservation to fulfill the growing consumer demand for more fresh and healthy processed meat products. Further, traditional retailers hold the major market share as butcher shops chiefly sell halal meat, poultry, and seafood products in most Islamic countries and non-Islamic countries. However, the rapid expansion of distribution channels has significantly fuelled segmental growth over the past few years. The supermarket channels are evolving rapidly to invest in newer technologies and offer consumers a wide variety of products. These retail channels are investing in complying with all regulatory requirements to improve the safety and quality of the products they offer. The increasing digitalization across the world would also support the evolution of online retail channels. Covid-19 Impacts: The rapid spread and disruption of COVID-19 in the food and drink industry, including the Halal food industry, caused disruptions to the food supply chain. Leading global manufacturers saw a reduction in labor and disruption in the import and export of Halal Food. This significantly affected their sales and consumption. In addition, the pandemic caused a slowdown in the demand for meat products. However, the market will be boosted by the growing demand for healthy and safe foods over the forecast period.

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Manmayi Raval

Research Consultant

Considered In the Report • Geography: Bangladesh • Historical year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecasted year: 2027 Aspects Covered In the Report • Market Size By Value for the historic time period (2016-2021) • Market Size By Value for the forecast time period (2022-2027) • Market Share by Product (Halal Meat, Poultry & Seafood, Halal Milk & Milk Products, Halal Fruits & Vegetables, Halal Grain Products, Beverage Products, Others) • Market Share by Sales Channel (Hyper Market/ Supermarket, Traditional Retail, Online, Others) • Market Share by Country (2016, 2021 & 2027F) The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free.

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Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the halal food & beverage industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. "