Trends
“The potential market for halal food is over one trillion dollars and yet
there are very few dedicated halal certified food producers or
manufacturers in the global market. Therefore, there is huge scope for
building a global brand with halal and tayyab integrity across the
value chain. In addition, integration of the halal segment with organic,
genetically modified (GMO) free, and fair trade food practices are
expected to find a wide consumer base during the forecast period.”
Arushi Thakur, Technavio
A NICHE,
BUT GROWING MARKET
To find out more about the halal biscuit market, Biscuit World spoke with
Vijay Sarathi, research analyst at
Technavio. The figures show that the
halal biscuit market is very niche and is
still largely at nascent stages. However,
Sarathi expects a growth at a high
CAGR of over 15% during the period
2015-2020.
According to Technavio, the countries
with a high consumption of halal biscuits are Malaysia, Indonesia, China,
Turkey, Iran, Egypt and Pakistan. On
the other hand, sales among nonMuslim countries, such as the US,
Europe, China and India, have
been growing strongly as most
of these consumers perceive
halal products to be healthier than non-halal products. “For instance, we
observed that for every
halal product available
on the US supermarket shelves, there are
almost 86 kosher
certified food products, which is
prompting the local
Muslim population
to buy these kosher
certified products.
Muslims in the US
spend approximately
USD 16 billion on overall kosher food products due to the unavailability of halal products in
the country. There is a lot of
scope for certified halal biscuits in the country,” explained Vijay Sarathi, research
analyst at Technavio.
BISCUIT WORLD • Spring 2016
Growing awareness about halal products and its apparent health benefits
has emerged as a major driving factor.
Over the next few years, a wider range,
better quality, better packaging and
consistent supply, as well as a halal
certification, will be essential for the
market’s growth.
GLOBAL HALAL FOOD MARKET
Technavio has recently launched a report covering the present scenario and
growth prospects of the global halal
food market for the period 2015-2019.
“A key segment of the halal food
market is meat and live animals. As
Organization of Islamic Countries
(OIC) member nations import nearly
85% of their meat and live animals,
the market presents a huge potential
for the leading vendors of this
market,” said Arushi Thakur, one of
Technavio’s lead analysts for food
market research. l
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