THE RISE OF THE HALAL MARKET TRENDS AND OPPORTUNITIES
Tomás Guerrero
Manager, Halal Trade and Marketing Centre tguerrero@thehtmc.com
REGULATED MARKET
Todo lo que no ha sido prohibido expresamente, está permitido.
Halal representa un estilo de vida, un concepto global e integral
Haram se refiere a todo lo que está prohibido
Prohibido, desautorizado, dañino, no ético o abusivo
Según la normativa islámica, son Haram:
The Halal Concept
Source: Halal Trade and Marketing Centre (2020)
Regulated Market
“Halal” is an Arabic term meaning permissible or lawful as per the Islamic law. The Halal Economy is composed of sectors whose core products and services are structurally affected by Islamic Law, such as Food (that must be Halal) Finance (that must be Sharia-compliant) or Fashion (that must be modesty).
Halal Legal Framework
Halal Certification Bodies Halal Accreditation Bodies
Source: Halal Trade and Marketing Centre (2020)
Regulated Market
Regulated Market
Source: Halal Trade and Marketing Centre (2020)
HALAL MARKET DRIVERS
Halal Market Drivers
Large, Young and Fast-Growing Population
1.3 1.1
1.6
1.9
30%
2.2
1990 2000 2010 2020F 2030F
Global Muslim Population (Bn)
26.4%
15%
18%
21%
24%
27%
1990 2000 2010 2020F 2030F
Muslims’ World Percentage (%)
Source: Halal Trade and Marketing Centre (2020)
Muslim-Majority Countries are Leading the Economic Growth
Source: Halal Trade and Marketing Centre (2020)
Halal Market Drivers
GDP
($US Bn, Constant Prices 2018)
GDP per capita
($US Bn, Constant Prices 2018)
Indonesia Saudi Arabia Turkey
Iran UAE Nigeria Malaysia Pakistan Egypt Kazakhstan
Qatar UAE Kuwait Brunei Bahrain Saudi Arbia Oman Kazakhstan Turkey
Libya
68,793 43,000
33,994 31,628 24,050 23,338 16,415 9,370
9,814 7,241 1,042
771 786 454
414 397 358 314 251 179
Source: World Bank (2019)
Fast-Growing Economies
Halal Market Drivers
Emerging Muslim Middle Classes
Source: Hitting the sweet spot: The growth of the middle class in emerging markets, E&Y (2013)
Halal Market Drivers
THE HALAL MARKET
The Halal Market
The Islamic Economy in Figures (2018)
Food & Beverage
• 1.3 Trillion
Finance
• 2.5 Trillion
Fashion
• 283 Billion
Tourism
• 189 Billion
Media/Recreation
• 220 Billion
Pharmaceuticals
• 92 Billion
Cosmetics
• 64 Billion
Source: State of the Global Islamic Economy Report (2020)
Food & Beverage
• 1.9 Trillion
Finance
• 3.4 Trillion
Fashion
• 402 Billion
Tourism
• 274 Billion
Media/Recreation
• 309 Billion
Pharmaceuticals
• 134 Billion
Cosmetics
• 95 Billion
Source: State of the Global Islamic Economy Report (2020)
The Halal Market
The Islamic Economy in Figures (2024)
THE HALAL F&B MARKET
57 OIC Countries allocated 1 trillion dollars to
consume Halal certified Food
Global Muslim Market
17%
Halal Food Market Overview
Expenditure of the Muslim Population on Food and Beverages ($US Bn, 2018)
1.3
Source: State of the Global Islamic Economy Report (2020) 854
771
380 341 316
Global Muslim Market
China USA Japan India Russia
Top Market Indonesia 173 $US Bn
An Opportunity for Italy
Indonesia is Leading the Halal Products Consumption
Key Consumers of Halal Food Products ($US Bn, 2018)
Source: State of the Global Islamic Economy Report (2020)
An Opportunity for Italy
OIC Food Dependency
16
68
35 37
92
63
Livestock and Meat Vegetables Processed Foods
Exports Imports
of the world food imports
of the world food exports
OIC Food imports reached 191 billion dollars
OIC Food exports reached 124 billion dollars
The trade gap in the food sector was close to 66 billion
dollars
Source: Thomson Reuters Report (2019)
OIC Food Export and Imports ($US Bn, 2017)
An Opportunity for Italy
Main Players
Suppliers Producers
Retailers
Logistics
Regulators
New Halal Brands
Source: State of the Global Islamic Economy Report (2020)
An Opportunity for Italy
THANK YOU
Tomás Guerrero
Manager, Halal Trade and Marketing Centre tguerrero@thehtmc.com
