Halal Foods Asia - An essential exhibition for the Halal Foods Industry – Trade buyers from major Halal food & beverage sectors in the world make Halal Food Asia 2012 an essential trade exhibition. You get to meet thousands of Halal Foods and beverages executives from Dubai, Saudi Arabia, Qatar, Oman, Turkey, Kuwait, Singapore, Indonesia, Malaysia, Morocco, Bahrain, Thailand, Egypt, Iran, Bangladesh, India, France, U.K., U.S.A. and from other 57 OIC member countries over a span of just 3 days as they get together at this most conducive business platform for their sourcing needs.
Consumption of Halal products has been increasing constantly (+16% of the GDP) during the last few years, and the trend shows upward tendency, awakening the interest of European companies for the growing markets in the Muslim World. But the Halal food market has exploded in the past decade and is now worth an estimated $ 667 billion annually. That's about 16% of the entire global food industry.
One reason for the rise of the Halal economy is that the world's 1.83 billion Muslims are younger and, in some places at least, richer than ever. Seeking to tap that huge market, non-Muslim multinationals like Tesco, McDonald's and Nestlé have expanded their Muslim-friendly offerings and now control an estimated 90% of the global Halal market.
Countries with a Muslim majority have an average population growth rate of 1.8% per year, this compares with a world population growth rate of 1.12% per year. As of 2011, it is predicted that the world's Muslim population will grow twice as fast as non-Muslims over the next 20 years.
With the growing number of Muslim population, the production of a broader range of Halal products will increase to meet the demands which will consequently boost the value of the halal foods & beverages market.
The Halal market is growing rapidly in recent years. This growth is explained by Muslim consumers’ increasing wish to diversify their eating habits, particularly as regards ready-to-cook or ready-to-eat products.
However the Halal market remains a complex one for operators to recognize. Manufacturers and distributors will have to face many challenges in the years ahead to support the growth in sales of Halal products: propose a high quality, diversified offering, develop genuine marketing aimed at the Muslim population, turn brands into real guarantees of quality and win over the consumers’ trust.