Skip to main content

Halal food market poised for growth


Halal food is estimated to be a USD415 billion global market. Leon Perera, CEO of Spire Research and Consulting shared his views with news portal Salaam Gateway on the factors that will continue to drive this growth in 2017.

The global market for halal-certified food in 2015 was estimated at USD415 billion in the State of the Global Islamic Economy Report 2016/17 by Thomson Reuters and Dinar Standard.

There is a growing demand for Shariah-compliant food products across the entire value chain, including storage and transportation.

Perera remarked that this being driven by a growing Muslim middle class, rising Muslim tourism and aggressive Halal food export promotion programs by some countries.

Perera added that Spire was seeing a trend of government agencies seeking to promote tourism and the Meetings, Incentives, Conventions and Exhibitions (MICE) sector from Muslim majority countries by stimulating their domestic Halal food-service sector.

Comments

Popular posts from this blog

Spirethoughts: Saving India’s farmers

Rural farming in India could benefit immensely from solar energy, as farmers can use water pumps that are powered by solar panels to irrigate farms; balancing out the electricity provided for urban dwellers in the process. This is crucial as approximately 18 million of the country’s 25 million water pump sets are linked to the national electric grid. To address the nation’s power shortage, a joint-venture will be formed between six state-owned companies in Mumbai, including Bharat Heavy Electricals Ltd and Power Grid Corporation of India Ltd, to build a 4-gigawatt solar photovoltaic farm by the end of 2016. The price would be INR10 cheaper than the lowest power bid in India. Once the government grant has been received, this would change the way clean energy is generated; providing light through solar energy to 70 percent of the population residing in the urban areas. Is solar energy becoming a transformative resource for rural farmers? http://www.spireresearch.com/ne...

The Philippines - Asia's next economic powerhouse

The Philippines is emerging as one of Asia’s most dynamic economies, with a forecasted growth rate of 6.9 per cent in 2018 driven by investment and private consumption. The economy recorded growth of over 6 per cent in 2017, for the sixth straight year, thanks to buoyant government spending, exports and a recovery in the agricultural sector. Will this Southeast Asian tiger be able to maintain its momentum? A growing economy While advanced economies like the United States, Europe and Japan are growing at slow rate, a number of emerging economies like the Philippines continue to surge ahead. With annual growth expected to reach 6.9 per cent by 2018, the Philippines now ranks as the 10th fastest growing economy globally. Owing to strong domestic demand and government projects, the country’s economy is on the rise. The government’s expansionary fiscal policy has aided capital formation and credit growth, whereas low inflation has strengthened private consumption. Path...

Spire sponsors INBC Salmon Evening to explore business opportunities in aqua farming

Indonesia is the world’s third largest aquaculture producer. What business prospects lie in Indonesia’s aqua farming industry? Spire Research and Consulting was honored to be a sponsor and speaker at the Indonesia Norway Business Council (INBC) Salmon Evening in Jakarta – an event aimed at exploring trends and potential business opportunities in Indonesia’s aqua farming industry. At the event, Franklin Crum, Manager, Client Service of Spire Research and Consulting, spoke about aqua farming and the untapped opportunities in this industry. He remarked that Indonesia, being the third largest aquaculture producer worldwide (trailing closely behind China and India), saw an average annual increase of 30.9% in aquaculture production volume from 2009 to 2012. Crum commented that opportunities in aqua farming are abundant. There is an increasing demand for high-value fish species such as snapper, grouper, pompano and barramundi as well as rising supply of fingerlings (young fish) for ...

The European Union-Vietnam Free Trade Agreement (EVFTA) is set to open doors for Vietnamese exporters

On 30 June, 2019, the European Union signed its first free trade deal with a developing Asian country – Vietnam, one of the fastest growing economies in Southeast Asia. The EU-Vietnam Free Trade Agreement (EVFTA) would reduce 99% of tariffs on goods and services traded between European and Vietnamese markets. WVietnam’s exports to the EU were valued at 50 billion euros in 2018. This figure is expected to increase by 40% by 2025 under EVFTA. Between the years 2024 – 2028, the agreement would boost Vietnam’s gross domestic product by 5 to 6% annually. Will the EVFTA herald a closer economic relationship between Vietnam and Europe? For more information :  https://www.spireresearch.com/newsroom/spirethoughts/the-european-union-vietnam-free-trade-agreement-evfta-is-set-to-open-doors-for-vietnamese-exporters/

China’s landfills: Can waste be turned into energy?

260 million used tires are dumped in landfills all over the world. These tires contaminate groundwater and create clouds of black grime when they ignite, releasing toxins into the atmosphere. IFW Recycling Corporation based in the U.S. sees these old tires as a clean, green and efficient source of fuel. The tires are gassed to result in usable diesel fuel. This does not cause pollution and creates by-products for further use such as distilled water, carbon black and ash. With China emerging as one of the world’s biggest polluters, its government is seeking alternatives to coal-fired electricity generation. This could be one of them. https://www.spireresearch.com/newsroom/spirethoughts/chinas-landfills-can-waste-be-turned-into-energy/