Halal Foods Market taking wide customer base globally.

Byline: Ahsan Nisar

Halal food is a large segment serving the global Muslim population, while also gaining attention of a wider global audience. The Halal market has, for many years, been uncharted territory. In terms of market research, trade data and analysis, and the preferences and spending habits of 1.6 billion consumers, the halal marketplace is still a very young, continually evolving commercial arena. It is, in effect, a new market paradigm that crosses geographic, cultural and even religious boundaries. To meet the Halal requirement, food producers are encouraged to follow the standards that in line with global benchmarks, such as ISO-9000, Codex Alimentarius, QA, HACCP, GHP, and Standard Operating Procedures (SOPs). There is increasing interest globally in organic and natural food products, which represents a strong adjacent market for Halal food products to address.

This has also opened the door to merger and acquisition activity outside the traditional Halal distribution chain to access both Muslim and non-Muslim consumers.

Halal food products are not confined to meat and poultry, including other food items, such as confectionary, canned and frozen food, dairy produce, bakery products, organic food, beverages, and herbal products. The Halal market has witnessed a universal shift in the demand and supply chains of Halal food products. They are increasingly made available in Western-style grocery stores including supermarkets and hypermarket chains. In many western countries, supermarkets and food producers are starting to reach out to Muslim consumers by offering a wider selection of Halal food products.

From a market perspective, the traditional major target markets remain in Asia-Pacific and the Middle East. However, Halal markets in the UK, Europe, and the USA will see their roles in the development of the Halal market significantly enhanced, as they are markets that play defining roles in other markets around the world. It will bring Halal into the global mainstream. As the dynamics within the Muslim world change and globalization trends continue to shape consumers' tastes, habit, and spending patterns across the world; it is highly likely that the developing Halal markets will have increasingly influential roles in the established markets of the Middle East and Asia, particularly by influencing global corporate Halal...