Factors Contributing to Growth
There are many crucial factors contributing to the industry growth of the Halal foods market. With a large, diverse, and educated young consumer base, the Halal economy can be considered as one of the fastest growing sectors globally.
Moreover, the growing awareness of Halal food and its positioning as hygienic and healthy among both the Muslim and non-Muslim communities’ entails an increase in the consumption and acceptance of Halal food.
As the global market for Halal foods continues to grow, there will be an increasing demand from countries that do not have the means to produce sufficient quantities of their own Halal food. The leading importers of Halal food in 2015 among OIC countries were Saudi Arabia, Malaysia, and United Arab Emirates, with one of the most popular imported foods being meat. Other emerging Muslim countries like Pakistan, Bangladesh, India, and Indonesia have large Muslim populations and adhere to Islamic traditions regarding diet.
As many other nations emerge economically, the increased purchasing power of these Muslim majority countries would prove astronomical. This can also be said for the European markets. There is an ever-increasing demand for Halal certified products in Europe, especially in countries that have large Muslim communities such as the United Kingdom, France, and Germany.