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Halal: Boom market held back by significant challenges

  • October 2014
  • -
  • MarketLine
  • -
  • 27 pages

Summary

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Introduction

The global halal market, which includes a variety of products and services that comply with Islamic laws and regulations, was valued at $1.7tn in 2012, and is growing faster than other consumer markets. The market has consequently received special attention worldwide as one of the most potential-rich markets to be explored and developed.

Features and benefits

* Explains the concept of halal products and services.
* Analyzes factors driving the halal market growth globally.
* Looks at limitations to further expansion of halal market.
* Reviews halal business opportunities globally.

Highlights

A rapidly growing Muslim population, coupled with rising consumer affluence and increasing halal awareness is making consumers pay a premium for products that meet their ethical and religious beliefs.
The approach to explain and promote halal in much the same way as organic products, focusing on wholesomeness, safety for consumption and use, and higher quality of ingredients is attracting shoppers from more diverse ethnic backgrounds and religious beliefs
The lack of halal certification, lack of support for halal companies in financial and investment services, as well as a negative political climate associated with Muslims, pose significant challenges for the further development of the halal market.

Your key questions answered

* What is halal?
* What is the size and what are the main segments of global halal market?
* What are the factors driving the halal market's growth?
* What are the main challenges to the halal market's growth?
* Which geographical regions present most halal business opportunities?

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Related Market Segments :

Halal Food
Food
Cosmetics

ref:plp2014

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