The Global Halal Food Market - Using A Wave Of Growth
Halal certification
The literal meaning of the Arabic word 'Halal' is permissible. It is used in reference to meals and drinks which might be permissible for Muslims underneath Islamic Legislation, as defined within the Koran. It lays down directions specifying what meals could be consumed as well as the tactic of preparation, addressing principally meat gadgets and animal tissue. For example, the Islamic form of slaughtering animals entails killing by a lower to the windpipe, carotid artery and jugular vein.
Muslim consumers now contribute to a growing demand for high quality and assorted Halal food. The Halal certification is a priority for the 1.6 billion international Muslim population because many Muslims live in non-Muslim majority nations where Halal-certified meals is at instances hard to find or the place the authenticity of the certification might be queryable.
Growth potential
What is driving the fast progress within the Halal meals market?
Rise in Muslim population
According to analysis launched in 2015, Muslims at the moment make up a couple of quarter (23.2 percent) of the global population. The research additional states that the rise in the Muslim population is due to a youthful demographic - many Muslims live in international locations with low median ages like Indonesia, India and Pakistan - and on-going improvements in infant mortality rates. With the rise of the Muslim consumer, meals-service chains resembling KFC and Nando's now have Halal retailers, whereas Pizza Specific makes use of Halal hen and supermarkets in Europe are stocking up on frozen Halal foods.
Higher disposable earnings
Increasing income ranges among the Muslim population are fuelling demand for new and differentiated Halal food. A rising Muslim population in addition to financial improvement in countries with large populations of Muslims makes this a profitable segment to take a position in. For example, the combined disposable revenue of an American Muslim in 2012 amounted to USD98 billion.
Growing awareness and demand
The awareness factor is at play for each the Muslim in addition to non-Muslim population. The previous is turning into more and more aware of their non secular obligations whereas some consultants imagine that the latter are anticipated to shift towards Halal meals resulting from rising issues about unhygienic and unhealthy food. For instance, Halal meat accounts for about 15 per cent of total meat gross sales within the United Kingdom (2.6 billion British kilos), which is way higher than the proportion of Muslims in Britain (which is roughly 5 per cent).
Non-food Halal market opportunities
Halal products are not all regarding meat. The evolving life-style and enhance in buying powers of Muslims imply that there is growing demand for merchandise that conform to Islamic dietary laws. As the Halal trade continues to broaden beyond the meals sector there are a lot of industries that stand to profit which embrace:
Beauty and personal care
More customers are aware that cosmetics may include alcoholic substances or products derived from animals forbidden by Islam. In line with 2013 knowledge, the Halal cosmetics and personal care market is value approximately USD13 billion with an annual progress rate of 12 percent.
Pharmaceutical and healthcare
Halal pharma and healthcare merchandise are in demand not just from Muslims but also from non-Muslims who worth wellness merchandise that do not hurt the body in the lengthy-term. That is why trade players are willing to change ingredients and manufacturing methods to cater to this demand. As at 2013, the Halal pharmaceutical market was estimated at USD34 billion - and growing.
Tourism
Recently gaining reputation, this kind of tourism refers to hospitality companies and products in accordance with Islamic practices. Traditionally, Halal tourism has been generally related to umrah, hajj and pilgrimage. The changing preferences of Muslims for journey destinations, growing affluent middle-class customers and rise in diploma of interconnectivity make travel convenient. This puts the Halal Wings Queens tourism market at USD137 billion in 2014.
Apparel
Fashion houses in Paris and Milan have seen the industrial potential for Muslim girls's clothing that respects non secular sentiments but incorporates elements of good style and style. In response to a report in 2012, the Muslim fashion business would be equal to USD96 billion if half of the Muslims' across the globe (1.6 billion) spent USD120 on clothes annually.
The literal meaning of the Arabic word 'Halal' is permissible. It is used in reference to meals and drinks which might be permissible for Muslims underneath Islamic Legislation, as defined within the Koran. It lays down directions specifying what meals could be consumed as well as the tactic of preparation, addressing principally meat gadgets and animal tissue. For example, the Islamic form of slaughtering animals entails killing by a lower to the windpipe, carotid artery and jugular vein.
Muslim consumers now contribute to a growing demand for high quality and assorted Halal food. The Halal certification is a priority for the 1.6 billion international Muslim population because many Muslims live in non-Muslim majority nations where Halal-certified meals is at instances hard to find or the place the authenticity of the certification might be queryable.
Growth potential
What is driving the fast progress within the Halal meals market?
Rise in Muslim population
According to analysis launched in 2015, Muslims at the moment make up a couple of quarter (23.2 percent) of the global population. The research additional states that the rise in the Muslim population is due to a youthful demographic - many Muslims live in international locations with low median ages like Indonesia, India and Pakistan - and on-going improvements in infant mortality rates. With the rise of the Muslim consumer, meals-service chains resembling KFC and Nando's now have Halal retailers, whereas Pizza Specific makes use of Halal hen and supermarkets in Europe are stocking up on frozen Halal foods.
Higher disposable earnings
Increasing income ranges among the Muslim population are fuelling demand for new and differentiated Halal food. A rising Muslim population in addition to financial improvement in countries with large populations of Muslims makes this a profitable segment to take a position in. For example, the combined disposable revenue of an American Muslim in 2012 amounted to USD98 billion.
Growing awareness and demand
The awareness factor is at play for each the Muslim in addition to non-Muslim population. The previous is turning into more and more aware of their non secular obligations whereas some consultants imagine that the latter are anticipated to shift towards Halal meals resulting from rising issues about unhygienic and unhealthy food. For instance, Halal meat accounts for about 15 per cent of total meat gross sales within the United Kingdom (2.6 billion British kilos), which is way higher than the proportion of Muslims in Britain (which is roughly 5 per cent).
Non-food Halal market opportunities
Halal products are not all regarding meat. The evolving life-style and enhance in buying powers of Muslims imply that there is growing demand for merchandise that conform to Islamic dietary laws. As the Halal trade continues to broaden beyond the meals sector there are a lot of industries that stand to profit which embrace:
Beauty and personal care
More customers are aware that cosmetics may include alcoholic substances or products derived from animals forbidden by Islam. In line with 2013 knowledge, the Halal cosmetics and personal care market is value approximately USD13 billion with an annual progress rate of 12 percent.
Pharmaceutical and healthcare
Halal pharma and healthcare merchandise are in demand not just from Muslims but also from non-Muslims who worth wellness merchandise that do not hurt the body in the lengthy-term. That is why trade players are willing to change ingredients and manufacturing methods to cater to this demand. As at 2013, the Halal pharmaceutical market was estimated at USD34 billion - and growing.
Tourism
Recently gaining reputation, this kind of tourism refers to hospitality companies and products in accordance with Islamic practices. Traditionally, Halal tourism has been generally related to umrah, hajj and pilgrimage. The changing preferences of Muslims for journey destinations, growing affluent middle-class customers and rise in diploma of interconnectivity make travel convenient. This puts the Halal Wings Queens tourism market at USD137 billion in 2014.
Apparel
Fashion houses in Paris and Milan have seen the industrial potential for Muslim girls's clothing that respects non secular sentiments but incorporates elements of good style and style. In response to a report in 2012, the Muslim fashion business would be equal to USD96 billion if half of the Muslims' across the globe (1.6 billion) spent USD120 on clothes annually.
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The Global Halal Food Market - Using A Wave Of Growth