Halal Food to Reach 16 Trillion by 2018 Report

Fez- A report published by the Dubai Chamber of Commerce forecasts the growth of the global market for Halal food and beverages (F&B) (corresponding to Islamic law) to reach 1.6 trillion dollars by 2018, up from 1.1 trillion dollars in 2013, with an annual growth rate of 6.9%.According to the Gulf News, the halal food market, which includes products such as chicken and beef, processed foods, and cold drinks accounted for 16.6% in 2012 of the global F&B market.The industry of Halal food is increasingly growing all over the world. “We see opportunities to enhance the halal food industry. The research finding on halal food sector is of considerable importance for the UAE food and beverage business, especially since halal food is a key pillar in the Dubai Capital of Islamic Economy initiative launched in 2013,” Abdul Rahman Saif Al Ghurair, Dubai Chamber’s Chairman, was quoted by Gulf News as saying.The industry of Halal food is growing mainly in the Middle East, North Africa and South and Southeast Asia. Saudi Arabia occupies the first rank as the largest market for Halal food in the region, followed by the UAE, Kuwait, Oman, Qatar and Bahrain respectively.With the growing demand for Halal food, “Today, Malaysia is the leading global halal hub with an annual export value of RM35.4 billion for halal products, which contributes approximately 5.1% of the total exports for the country,” according to Malaysia government’s web siteHalal is an Arabic word meaning permitted and lawful according to the Islamic guidelines. Halal food is therefore used in reference to all kinds of foods prepared or processed under Islamic Shari?ah guidelines that are permissible for Muslims to eat or drink.

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