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The Halal World
13/8/2014 Hour 13:8
Halal food & drink market was worth $1.1 trillion in 2013
The halal food and beverage market is becoming increasingly popular worldwide, and grew into a $1.1 trillion industry in 2013. This was stated in a research note by the Dubai Chamber of Commerce and Industry, based on a recent study by Thomson Reuters in collaboration with Dinar Standard.
The halal food market includes a large variety of products, from raw chicken and beef to halal processed foods and cold drinks. The Chamber report estimated that in 2012, the halal food and beverage market accounted for 16.6 per cent of the global food and beverage market, indicating greater awareness worldwide about the sustainable and wholesome principles that are at the core of halal food production.
The outlook remains bright as the report expects the market to be worth $1.6 trillion by 2018, growing at a compound annual growth rate (CAGR) of about 6.9 per cent.
Commenting on the report, Abdul Rahman Saif Al Ghurair, chairman, Dubai Chamber of Commerce and Industry, said, "We see opportunities to enhance the halal food industry."
"Based on the initiative, Dubai has the capability to create new avenues for growth in this sector, and become an international centre for the halal industry," Al Ghurair stated.
The report assumed significance as preparations are underway for the tenth World Islamic Economic Forum (WIEF), which would be held in Dubai between October 28 and 30, 2014, which would discuss halal food as a major component of the Islamic economy.
The halal food market includes a large variety of products, from raw chicken and beef to halal processed foods and cold drinks. The Chamber report estimated that in 2012, the halal food and beverage market accounted for 16.6 per cent of the global food and beverage market, indicating greater awareness worldwide about the sustainable and wholesome principles that are at the core of halal food production.
The outlook remains bright as the report expects the market to be worth $1.6 trillion by 2018, growing at a compound annual growth rate (CAGR) of about 6.9 per cent.
Commenting on the report, Abdul Rahman Saif Al Ghurair, chairman, Dubai Chamber of Commerce and Industry, said, "We see opportunities to enhance the halal food industry."
"Based on the initiative, Dubai has the capability to create new avenues for growth in this sector, and become an international centre for the halal industry," Al Ghurair stated.
The report assumed significance as preparations are underway for the tenth World Islamic Economic Forum (WIEF), which would be held in Dubai between October 28 and 30, 2014, which would discuss halal food as a major component of the Islamic economy.
Iran Today Newspaper
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