The Worldwide Halal Food Market – Riding a Wave of Growth

Halal certification

The literal concept of the Arabic word ‘Halal’ is allowable. It’s utilized in mention of the drinks and food which are allowable for Muslims under Islamic Law, as defined within the Quran. It lays lower instructions indicating what food could be consumed along with the approach to preparation, addressing mostly meat products and animal tissue. For instance, the Islamic type of slaughtering creatures involves killing with a cut towards the windpipe, carotid artery and jugular vein.

Muslim consumers now lead to some growing demand for prime quality and varied Halal food. The Halal certification is an issue for that 1.6 billion global Muslim population because many Muslims reside in non-Muslim majority countries where Halal-certified meals are at occasions difficult to find or in which the authenticity from the certification may be questionable.

Growth potential

What’s driving the rapid development in the Halal food market?

Increase in Muslim population

Based on research released in 2015, Muslims presently constitute in regards to a quarter (23.2 percent) from the global population. The research further claims that the increase in the Muslim population is a result of a more youthful demographic – many Muslims reside in countries with low median ages like Indonesia, India and Pakistan – as well as on-going enhancements in infant mortality rates. Using the rise from the Muslim consumer, food-service chains for example KFC and Nando’s are in possession of Halal outlets, while Pizza Express uses Halal chicken and supermarkets in Europe are stocking on frozen Halal foods.

Greater disposable earnings

Growing earnings levels one of the Muslim human population are fuelling interest in new and differentiated Halal food. An increasing Muslim population in addition to economic rise in countries with large populations of Muslims makes mtss is a lucrative segment to purchase. For instance, the combined disposable earnings of the American Muslim this year amounted to USD98 billion.

Growing awareness and demand

The attention factor reaches play for the Muslim in addition to non-Muslim population. The previous has become more and more conscious of their religious obligations although some experts think that the second are anticipated to shift towards Halal food because of rising concerns about unhygienic and unhealthy food. For example, Halal meat makes up about about 15 percent of total meat sales within the Uk (2.6 billion British pounds), that is far greater compared to proportion of Muslims in great britan (that is roughly five percent).

Non-food Halal market possibilities

Halal goods are not every associated with meat. The evolving lifestyle while increasing in purchasing forces of Muslims imply that there’s growing interest in items that comply with Islamic nutritional laws and regulations. Because the Halal industry is constantly on the expand past the food sector there are lots of industries that are in position to benefit including:

Cosmetic and private care

More consumers know that cosmetics might contain alcoholic substances or products produced from creatures forbidden by Islam. Based on 2013 data, the Halal cosmetics and private care marketplace is worth roughly USD13 billion by having an annual rate of growth of 12 %.

Pharmaceutical and healthcare

Halal pharma and healthcare goods are sought after not only from Muslims but additionally from non-Muslims who value wellness products that don’t harm your body within the lengthy-term. That’s the reason industry players are prepared to change ingredients and manufacturing techniques to focus on this demand. As at 2013, the Halal pharmaceutical market was believed at USD34 billion – and growing.

Tourism

Lately gaining recognition, this sort of tourism describes hospitality products and services in compliance with Islamic practices. Typically, Halal tourism continues to be generally connected with umrah, hajj and pilgrimage. The altering preferences of Muslims for holiday destinations, growing affluent middle-class consumers and increase in amount of interconnectivity make travel convenient. This puts the Halal tourism market at USD137 billion in 2014.

Apparel

Fashion brands in Paris and Milan have observed the commercial possibility of Muslim women’s clothing that respects religious sentiments yet incorporates aspects of taste and elegance. Based on a study this year, the Muslim fashion industry could be equal to USD96 billion if 1 / 2 of the Muslims’ around the world (1.6 billion) spent USD120 on clothing yearly.

Logistics

Halal logistics also offers obvious possibility of growth. This requires having to pay close attention within the logistics in which the integrity from the method is maintained in the farm towards the table from the consumer. An worldwide Halal logistics standard thus remains crucial. Based on 2014 data, this market is forecasted to develop in a Compound Annual Rate Of Growth (CAGR) of 12.6 percent to achieve about USD539 million.

Primary Halal markets

Because the Halal market emerges like a new growth sector, an increasing consumer base and elevated development in different regions will produce more competition. The important thing regions where growth potential is apparent include:

Asia

With nearly one billion Muslims or near to sixty-six per cent from the global Muslim population, Asia is in the lead for Halal products. Asia’s Halal market continues to be mainly driven by India, Malaysia, Pakistan, Indonesia and China. With nearly one billion Muslims or near to sixty-six per cent from the global Muslim population, Asia’s Halal market continues to be mainly driven by India, Malaysia, Pakistan, Indonesia and China.

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