MONITORING REPORT ISB: The global halal food and beverage market has grown to a $1.1 trillion industry in 2013, while it volume would be over $1.6 trillion by 2018. Halal food market includes a large variety of products from raw chicken and beef to halal processed foods and cold drinks, says the latest research note by Dubai Chamber of Commerce and Industry,
The report estimated that in 2012, halal food and beverage market accounted for 16.6 per cent of the global food and beverage market, indicating greater awareness worldwide about the sustainable and wholesome principles that are at the core of halal food production.
“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,” said Abdul Rahman Saif Al Ghurair, Chairman of Dubai Chamber.
The UAE halal food consumption market was valued at around $20 billion in 2012. Halal meat is an important component of this market, dominated by unpackaged meat which, according to 2013 estimates, constitutes about 78.7 per cent of the market share while packaged meat took the remaining 21.3 per cent.Pakistan, which is rich in livestock resources, is also making strenuous efforts to tap the potential of the international market.