The Knowledge to Decide

A boom in Halal tourism and a conscious effort to eat healthier has helped to lift Halal product revenues. The appeal of Halal products is broadening to some groups of non-Muslim consumers. Will the Halal market keep on expanding in the Gulf region? Saurabh Sharma, Country Director, India for Spire Research and Consulting, shared his insights in the Food & Beverage News magazine. The Gulf Cooperation Council (GCC), with its six-member country states, makes up a significant and rising share of the global Halal product market, which is estimated to reach USD1.9 trillion by 2021. The Halal market initially focused on food and beverages products but now rapid expansion is visible in cosmetics, pharmaceutical and personal care sectors. The drivers of growth in the Halal food market include the trend towards a protein-rich diet in countries seeing a rising middle-class, advances in food technology, Halal tourism and the emergence of new online marketplaces. Saurabh

Indonesia is the world’s ninth largest aquaculture producer. What business prospects lie in Indonesia’s aqua farming industry? Spire Research and Consulting was honored to be a speaker at the Indonesia Ocean Investment Summit 2014 in Jakarta, on behalf of the Norwegian Embassy. The event aimed at exploring sustainable fishery and maritime industrial development opportunities in Indonesia. At the event, Erwin Widjaja, Director, Indonesia of Spire Research and Consulting, spoke about aqua farming and the untapped opportunities in this industry. Fisheries activities need to be developed in order to provide national food security and reduce poverty. He shared that Indonesia’s fisheries extend to an impressive 5.8 million km – three-quarters of the entire national territory. Widjaja commented that opportunities in aqua farming are abundant. Indonesia is at an advantage because 76% of its surface area is under the Equatorial Ocean. There is an increasing demand for high-value fish