Wednesday, April 6, 2016

Pakistani halal meat gaining ground in international market

Posted By: aftab hussain - 9:31 PM


& Comment

Pakistan, one of the largest Muslim populated countries, is not benefiting from the $2 trillion halal food market, and has a negligible share in the industry. Today, Islam is one of the fastest growing religions on earth, both by birth and adoption, with the Muslim population estimated to reach 2.4 billion by 2013. The study of consumer behavior is very important when it comes to marketing of halal products. The fact of the matter is that Muslim consumers are very much similar to any other consumer segments,demanding healthy and quality products, which must also conform to Shariah requirements.McDonald's in Singapore can be seen as a prime example; it has seen an influx of 8.0 million patrons ayear after obtaining a Halal certification. Since being certified, "Halal, KFC, Burger King and Taco Bell have all seen an increase of 20% in customers "Halal logo has now become a symbol of quality and religious conformity and this makes it sound as the new green. Another reason for acceptance of Halal within the global population is the process of combination. Foreign foods in some countries as in Europe have become understand and local tastes are changing, encouraged by global tourism and immigrations. Curry is now the number one take away food in the United Kingdom and kebabs are a classic German cut. Some countries exporting the halal brand are non-Muslims, such as Brazil, USA, Canada, Australia, New Zealand, France, Thailand and India, who are the important countries exporting halal brands. India exported halal brand products worth $21 billion in 2010. It is important to note that awareness about halal is higher in those countries where Muslims are in minority. However, Muslims living outside the Sub continent and Middle East are more in need of halal products and services, which creates a big opportunity for suppliers of halal products. In Europe, the market size of halal foods is estimated to be $66 billion, with France having the largest share of approximately $17 billion. In the UK, halal meat sale alone is worth over $600 million annually. The American Muslims spend around$13 billion on halalfood products annually. The GCC’s halal food imports are worth approximately $44 billion. Annual halal food trade in India is worth over $21 billion. Indonesia’s annual halal foodexpenditure is over $70 billion. 

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