Muslim consumers now contribute to a growing demand for high quality and varied Halal food.
Higher disposable income
Increasing income levels among the Muslim population are fuelling demand for new and differentiated Halal food. A growing Muslim population as well as economic development in countries with large populations of Muslims makes this a lucrative segment to invest in. For example, the combined disposable income of an American Muslim in 2012 amounted to USD98 billion. You can find best halal meat market near me now.
Growing awareness and demand
The awareness factor is at play for both the Muslim as well as non-Muslim population. The former is becoming increasingly aware of their religious obligations while some experts believe that the latter are expected to shift towards Halal food due to rising concerns about unhygienic and unhealthy food. For instance, Halal meat accounts for about 15 per cent of total meat sales in the United Kingdom (2.6 billion British pounds), which is far higher than the proportion of Muslims in Britain (which is approximately five per cent).
Non-food Halal market opportunities
Halal products are not all relating to meat. The evolving lifestyle and increase in purchasing powers of Muslims mean that there is growing demand for products that conform to Islamic dietary laws.
Cosmetic and personal care
More consumers are aware that cosmetics might contain alcoholic substances or products derived from animals forbidden by Islam.