Demand from Muslim millennials has fuelled the growth of a Halal food market in Europe keen to address negative perceptions and tap into affluent communities eager to spend the “Muslim pound”.
Global sales of halal products have surged in recent years, yet the potential for further growth, both in Islamic and non-Islamic countries, remains vast.
Thompson Reuters has cut its growth forecast for the global Halal food market, saying the market will grow to just under US$1.6tn by 2020, instead of 2018 as predicted last year.
The European halal market is booming and set to grow – but manufacturers must appeal to Muslims without alienating non-Muslim consumers if they want to maximise sales , say experts.
Korea has signed a memorandum of understanding with the UAE to develop its Halal food industry, with the aim of almost doubling its current US$680m Halal food exports to US$1.23bn by 2017.
The global Halal food market will be worth US$1.6tn by 2018, up from US$1.1tn in 2013, according to a report commissioned by Dubai Chamber of Commerce.
Two Gulf investment vehicles have bought major stakes in Turkish food producers in recent weeks, as Turkey positions itself as a major halal food producer.
Dubai plans to launch a new international centre for halal certification within the first-quarter of 2014, with the goal of making the emirate the world leader in halal certification.
The impression I have always had when travelling abroad is that people overseas think of India as a Hindu-dominated country with a minority sprinkling of other religions. While that its true in essence, it is a fallacy when you talk in numbers.
Ningxia Hui Autonomous Region in northwest China is home to 10% of the country’s 20m Muslims. While by no means does it have a majority Muslim population, the strong Islamic tradition by the ethnic Hui people of this Silk Road region dates back to its...
Asia’s Muslim-majority countries should see Western nations as a viable and potentially lucrative market for their halal products, according to a leading food marketing consultant.
European Muslims are underserved by Halal food options, says
certification expert from Singapore, while Southeast Asia and the
Middle East are eyed by certified Western companies keen on
exports.
Thailand's Central Islamic Committee said that halal food products,
or those complying with Islamic rules, could dominate an $80
billion world market within one year, if the government and private
sector worked together to boost...