Let’s look at the 6 driving forces of the Halal Industry that have significantly shaped the world today.
1. Sizeable and growing Muslim population
2. Growing economic development in Muslim countries
Over the years the demographics of Muslim consumer have drastically shifted from the low to middle-class population across the world, including Western nations such as the USA and France.
3. Emergence of World Halal Players
In addition, countries that are key producers and exporters are also key markets for Halal exporters especially for processed food, ingredients and industrial chemicals.
4. Indirect Marketing and Promotion
In some parts of the world, the Halal market force is the result of the indirect awareness created and promoted through campaign-goers by industry players. Literally, this advertising and communication have sparked an awareness level for the consumer about the importance of Halal, not just food, but also ethical concepts such as Islamic finance, Muslim fashionista, logistic, tourism, pharmaceutical and many others. This emerging consumer need has actually created a trillion-dollar business, inevitably.
5. Muslim Lifestyles: Tourism & Cuisine
Globally Halal travellers are anticipated to spend US$155 billion in 2017, and these figures are expected to reach a staggering US$220 billion by 2020 and US$300 billion by 2026 respectively according to the Global Muslim Travel Index (GMTI) 2017 report.
Muslim travellers by default are very delicate and concern when dealing with an in-flight Halal meal for a long-haul sector. In this context, the Middle East carriers are known by many as the forefront in offering a Halal concept for all meals onboard departing from all major airports in the world. Centre for Aviation (CAPA) continuously reported the Middle East continues to defy global trends, witnessing growth in demand and expansion of capacity at rates not seen in any other global market. Airlines in this region will continue to outstrip global expansion in passengers, cashing in on regional and global economic growth, improving international passenger traffic flows and increasing aircraft production.
6. The Growth of Halal Eco-System
The eco-system is integrated into various clusters and industries. It is the catalyst to create sustainable supply-chains that restore the integrity of Halal, from Halal certification, Hubs and Halal Parks, Standard development, Online B2B, Training, Industry Zones and many others.
Integrity – is all about trust, the more we embrace, the more consumer spending or sustainable investment shall have impact on brands and businesses