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Growth In World’s Muslim Population Ensures Halal’s Continued Prosperity

June 2, 2016: 12:00 AM EST
The global halal market is growing rapidly. Deloitte estimates the market leapt past $1 trillion in 2015. Food accounted for 61 percent of halal trade, pharmaceuticals 26 percent, and cosmetics 11 percent. Western multinationals have customized products for the halal market, while new companies are developing innovative items. The main driver behind the surging market is the rapid growth in the global Muslim population, and the need to comply with Sharia restrictions on diet. But Sharia is not the only force driving halal’s growth. Halal certification is also seen as a mark of safer, healthier, higher-quality products. Described as the “organic option” for the 21st century, the designation appeals to both Muslims and non-Muslims, ensuring continued growth.
Jun Suzuki, "Asia's growing halal demand spurs innovation, profit", Nikkei Asian Review, June 02, 2016, © Nikkei Inc
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