Halal food market to grow exponentially

RetailME Bureau

One of the fastest growing segments of the worldwide food industry, currently worth $1.1 trillion globally, is the international Halal food market. The global Halal market is predicted to reach $10 trillion by 2030, according to the Global Futures and Foresights Study.

With GCC Halal food imports projected to rise from $25.8 billion in 2010 to $53.1 billion by 2020 – as forecasted by Economist Intelligence Unit – the UAE is progressing a series of initiatives designed to propel its position at the forefront of the global Halal food industry.

Anticipation runs high as the Emirates Authority for Standardisation and Metrology (ESMA) and Dubai Municipality work to establish unified Halal standards that will, in the future, be introduced to all Islamic countries. In addition, government officials announced in 2014 that Dubai has dedicated 72.1 million sqft of land in Dubai Industrial City for a dedicated ‘Halal Cluster’ reserved for manufacturing and logistics companies dealing in Halal products.