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Global halal market to hit $10t by 2030: Study
Staff Report / 19 February 2014
The UAE’s halal food imports are expected to contribute a 15 per cent of the total GCC imports by 2020.
The global halal market is expected to jump nine-fold to $10 trillion from the current level of $1 trillion by 2030, according to a study.
The UAE’s halal food imports are expected to contribute a 15 per cent of the total GCC imports by 2020. With GCC halal food imports — according to the Economist Intelligence Unit — set to jump from $25.8 billion in 2010 to $53.1 billion by 2020, the UAE’s annual halal food imports will reach $8.4 billion by the end of the decade.
The data was released ahead of next week’s annual food and hospitality trade show and as part of the 19th edition of Gulfood, running from February 23 to 27 at the Dubai World Trade Centre. Over 450 of the world’s leading halal manufacturers, processors and distributors from over 50 countries will convene at the first Halal World Food.
Dubai’s position as a primary global trading hub for the international halal food industry — a strategic enabler in the emirate’s long-term vision to become the global Islamic Economy capital — has received an immediate boost as a significant number of specialist halal food companies readying for next month’s inaugural Halal World Food presented by Gulfood.
With exhibitors from six continents displaying thousands of halal products, Halal World Food will instantly establish a market-leading position as the world’s biggest annual halal food sourcing trade show.
With the global halal market predicted to be a $10 trillion industry by 2030 according to David Smith of Global Futures and Foresights Study, the emirate’s visionary addition of Halal World Food to its international food strategy has already received backing from several heavyweight players in the global sector including Midamar Corporation, the US’ leading halal brand and a pioneering force in North American since 1974; Sadia International, one of the world’s leading halal brands of chilled and frozen foods; and Al Ghurair Foods, the Dubai-based manufacturer of multi-product halal food lines.
A specialist, show-within-a-show concept, Halal World Food will cover all halal-related aspects of global foodservice, retail and hospitality sectors to highlight the depth and variety of international halal products.
By positioning Dubai as a worldwide halal centre at the forefront of global halal food industry growth, Halal World Food is expected to generate significant inward investment opportunities for major international businesses eyeing regional buyers, suppliers, logistics providers and storage and transport solutions.
“Dubai has the ambition and world-class infrastructure to serve as the economic hub of the worldwide halal food industry and the global Islamic economy,” said Helal Almarri, CEO of the DWTC and director-general of Dubai Tourism & Commerce Marketing.
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