The global Halal market value
for trade in Halal foods is estimated at US$547 billion a year. This large
market has created interest from food producing countries worldwide. In this
respect, Malaysia has the edge in being recognized internationally as a
progressive Muslim country, where it has the potential of becoming a major
producer of Halal food products. To realize this potential, apart from the
commitment and support by the Government, the food-based Halal industries are
shown to be focusing their efforts in producing and exporting Halal food
products.
The increasing awareness of Muslim consumers on their religious obligations is
creating greater demand for halal food and other consumer goods. There are
approximately 1.6 billion Muslims out of the 6.5 billion world population. With
the Halal food market currently accounting for as much as 12% of global trade in
agri-food products, major growth will generate growth opportunities throughout
the agri-food industry.
It is not just the growing number of Muslim consumers that has made halal a big
business. It is the global nature of the food industry itself. Around 80 per
cent of the halal food industry is in the hands of non-Muslims for what matters
to the Muslim buyers is not the religion of the manufacturer but the quality and
efficacy of the product.
Being a Muslim country, Pakistan is in an advantageous position to secure a
significant share in the Hilal market if steps are taken in the right direction.
But incidentally, it has no presence as yet in the halal economy which
essentially caters to the faith-related needs of Muslim consumers.
The Brazilians have been big halal producers for years. In several countries,
the quality of halal products and halal standards are very high due to which not
only Muslims but non-Muslims as well look for halal certified items. In New
Zealand, all 8,500 prisoners in the country’s prison system eat halal-certified
meat, although Muslim prisoners are 82 only.
On July 27, the first-ever halal expo and congress was held in Karachi which was
a major initiative to familiarize businessmen with the halal concept. It was
held with the cooperation of a Malaysian organization called International Halal
Integrity (IHI) Alliance which also agreed to support Pakistani initiatives to
promote this industry and hold training workshops for this purpose.
Malaysia is the great hub of halal industry in the world and has set up
institutions to determine efficacy of halal, deal with the issues of its
standards and certification. It is a leading exporter of pure Islamic products
to Muslim countries, China and western countries where there is large presence
of Muslim population.
Halal accounts for 17 per cent of the global food market, according to the World
Halal Forum based in Malaysia. The halal segment is growing faster than any
other in the food market. Sale of goods that meets Islamic standards is expected
to reach $641 billion in 2010. The European halal food market is set to reach
$67 billion in 2010.
(Figures & fact obtained from “The Halal Journal” - the leading international
media brand in the Halal market, published from Malaysia)