12 December 2016
Global Islamic Economy Gateway – Salaam Gateway
Halal food market poised for growth
Halal food is estimated to be a USD415 billion global market. Leon Perera, CEO of Spire Research and Consulting shared his views with news portal Salaam Gateway on the factors that will continue to drive this growth in 2017.
The global market for halal-certified food in 2015 was estimated at USD415 billion in the State of the Global Islamic Economy Report 2016/17 by Thomson Reuters and Dinar Standard.
There is a growing demand for Shariah-compliant food products across the entire value chain, including storage and transportation.
Perera remarked that this being driven by a growing Muslim middle class, rising Muslim tourism and aggressive Halal food export promotion programs by some countries.
Perera added that Spire was seeing a trend of government agencies seeking to promote tourism and the Meetings, Incentives, Conventions and Exhibitions (MICE) sector from Muslim majority countries by stimulating their domestic Halal food-service sector.
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Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.