PR Newswire
06 Sep 2022, 21:49 GMT+10
The buoyant market for the global halal economy is expected to reach $4.96 trillion by 2030, says Frost & Sullivan
RIYADH, Saudi Arabia, Sept. 6, 2022 /PRNewswire/ -- Frost & Sullivan's recent analysis, Global Halal Economy Growth Opportunities, finds that the halal economy is experiencing an upward trend as the demand for halal products from Muslims and non-Muslim nations increases. The main factors driving the halal industry are favorable population demographics, government policies, and private sector initiatives. Growing non-Muslim demand for halal foods will be driven by its association with safe and healthy eating, while halal fashion and tourism should also find increasing acceptance among more conservative non-Muslim consumers. The market for the global halal economy will likely witness impressive growth, reaching $4.96 trillion by 2030 from $2.30 trillion in 2020.
For further information on this analysis, please visit: https://frost.ly/7hz
"With higher levels of halal trade and Islamic finance potentially accelerating infrastructure development, the halal economy is poised to become more integrated with global trade and supply chains," said Neha Anna Thomas, Senior Economist at Frost & Sullivan. "Further, governments are strengthening regulatory and policy support through national masterplans and certification scope expansion, which will boost the halal industry's growth."
Thomas added: "Transparency and traceability along the halal product value chain are crucial. Due to this, governments should encourage the adoption of advanced technologies such as blockchain and the Internet of Things (IoT) when developing halal economy masterplans, while businesses can partner with tech start-ups."
To tap into growth opportunities of the halal market:
Global Halal Economy Growth Opportunities is the latest addition to Frost & Sullivan's Economic Analytics research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion.
Global Halal Economy Growth Opportunities
9AE5
Contact:
Naif Saud Alsofyani
Marketing and Communication Manager, ME
[email protected]
SOURCE Frost & Sullivan
Get a daily dose of Singapore Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Singapore Star.
More InformationBEIJING, China: The Chaoyang District Intermediary Court in Beijing has begun compensation hearings for the Chinese relatives of those who ...
Israel resumed its military operation in the Gaza Strip on Friday with heavy bombardments. As strikes continue, the United States ...
LIVINGSTON, Kentucky: CSX railroad said that a failed wheel bearing on a train car caused a derailment on November 22 ...
HELSINKI, Finland: After Finland joined the North Atlantic Treaty Organization (NATO) earlier this year, hundreds of migrants from the Middle ...
CHISINAU, Moldova: Over the weekend, heavy snowfall and strong blizzards in Romania, Moldova and Bulgaria left one person dead and ...
WASHINGTON D.C.: After a House Ethics Committee report found substantial evidence that he broke the law, New York Republican representative ...
WASHINGTON D.C.: As businesses built more warehouses and accumulated machinery equipment, the U.S. economy grew faster than initially forecast in ...
WASHINGTON D.C.: This week, the White House said that Senior Biden administration officials met with the makers of respiratory syncytial ...
CHEYENNE, Wyoming: This week, the Biden administration raised US$3.4 million from a sale of oil and gas drilling rights in ...
NEW YORK, New York - U.S. stocks extended their rally on Friday despite remarks by Federal Reserve Chair Jerome Powell ...
MOSCOW, Russia: Russia's trade in oil with India, one of the most lucrative oil trade routes since the imposition of ...
LONDON - Health experts and tobacco campaigners have strongly criticized New Zealand's decision to repeal laws that aimed to ban ...