susan hill Submitted 2018-06-22 13:23:03 The global halal market size was valued at USD 5.73 trillion in 2016 and is expected to grow on account of rising Muslim population and increasing availability of these products & services. Increasing spending on Halal products & services by consumers besides Muslims is expected to trigger the growth of the market over the forecast period.
The Islamic finance sector has witnessed tremendous growth over the past few years with the emergence of crowd funding platforms including Human Crescent. Lack of awareness has resulted in an enormous opportunity for products & services offered by this segment. The segment is likely to grow at a CAGR of 10.5% from 2017 to 2024.
Speedy growth of economies in the Middle East and South East Asia are expected to augment the growth of the market owing to the presence of large Muslim population. These economies are likely to emerge as popular destinations for food and fashion. The Middle East halal market is expected to witness a double-digit growth generating revenues worth USD 6.53 trillion by 2024.
The demand for qualified halal products among non-Muslim customers has been on the upsurge as more consumers are looking for high superiority Martin Jones Jersey , safe and righteous products. Non-Muslim consumers in Asia Pacific are likely to play a vital role in driving the regional market making it the second largest marketplace after the Middle East, contributing to 30.9% of the global revenues by 2024.
The Islamic economy is being driven primarily by the increasing youth population with high disposable incomes. These factors are likely to drive various segments of the halal market including fashion, food Joe Pavelski Jersey , finance, travel, and media & recreation. Moreover Brent Burns Jersey , increasing availability of these products & services is expected to fuel the growth of the market over the projected period.
Keeping in mind the growth of the global halal industry, several food companies including KFC and Nestle are offering halal products to their Muslim consumers. The emergence of Islamic finance institutions offering finance and banking assets are expected to provide further impetus to businesses that are focusing on venturing into the halal industry, thereby resulting in tremendous growth of the global halal industry over the next few years.
Hexa Research has segmented the global halal market based on product and region:
Segmentation by product Erik Karlsson Jersey , 2014 - 2024 (USD Billion) 鈥?Food & Beverages 鈥?Travel 鈥?Media & Recreation 鈥?Finance 鈥?Fashion 鈥?Pharmaceutical 鈥?Cosmetics
Key players analysed: 鈥?Diana Kotb 鈥?INAYAH 鈥?Al-Rajhi Bank 鈥?Al-Salam Bank 鈥?MMA Bio Lab Sdn Bhd 鈥?Ivy Beauty Corporation Sdn Bhd 鈥?Nema Food Company 鈥?Midamar 鈥?Chemical Company of Malaysia Berhad (CCM Pharmaceuticals Sdn Bhd) 鈥?Pharmaniaga Bhd Motorcycle Rain Gear Is a Requirement, Not a Luxury Autos Articles | June 14 Logan Couture Jersey , 2012 We've all been there. That day when the components man says the possibility of rainfall is 20 to 30 % and we are preparing a journey. Our buddies are conference us in 50 percent an hour and we have a big day organized.
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