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Global Halaal Food Market size is poised to grow by USD 655.1 billion during 2019-2023 Print
 
Global Halaal


The global halal food market size is poised to grow by USD 655.1 billion during 2019-2023, according to a new report by Technavio, progressing at a CAGR of close to 8% during the forecast period.

The market is driven by increasing consumer expenditure on halal food. Also, the introduction of blockchain is anticipated to further boost the growth of the halaal food market.

Until the last decade, there was significant demand for halal food only from countries such as Indonesia, Malaysia, Saudi Arabia, Singapore, and UAE. However, the market has picked up pace in various other countries such as the US, Germany, Australia, and India owing to increasing consumer preference toward halaal food. Based on estimates, the consumer expenditure on halal food in Germany is expected to grow considerably during the forecast period. Key countries such as Indonesia, Malaysia, and Singapore are also witnessing an increase in the demand for halaal foods. The increasing consumer expenditure on halaal food is one of the key factors driving the growth of the global halal food market.

Source

SANHA Comments:
Of the five major Halal companies the report lists, SANHA is pleased to certify selected products of the global giant, Unilever.

The expansion of the global Halaal industry is an acknowledged fact. Muslims are encouraged to be proactive in this process and provide religiously permitted products and service of use to the community and humanity at large. The Muslim businessman will not only earn a wholesome income but can manage his enterprise in a way that will be a form of worship. Allah’s Messenger (salutations and peace be upon him) said, “The truthful and trustworthy trader will be with the prophets, sincere ones and martyrs [on the Day of Resurrection]” [Tirmizi]. 
 
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