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Global Halal market to hit $10t by 2030
The global halal market is expected to jump nine-fold to $10 trillion from the current level of $1 trillion by 2030, according to a study.
The UAE’s halal food imports are expected to contribute a 15 per cent of the total GCC imports by 2020. With GCC halal food imports — according to the Economist Intelligence Unit — set to jump from $25.8 billion in 2010 to $53.1 billion by 2020, the UAE’s annual halal food imports will reach $8.4 billion by the end of the decade.
The data was released ahead of next week’s annual food and hospitality trade show and as part of the 19th edition of Gulfood.With the global halal market predicted to be a $10 trillion industry by 2030 according to David Smith of Global Futures and Foresights Study, the emirate’s visionary addition of Halal World Food to its international food strategy has already received backing from several heavyweight players in the global sector including Midamar Corporation, the US’ leading halal brand and a pioneering force in North American since 1974; Sadia International, one of the world’s leading halal brands of chilled and frozen foods.
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