5th Halal Expo highlights potential of booming $2.1 trillion global Halal industry
- United Arab Emirates: Tuesday, November 13 - 2012 at 11:43
- PRESS RELEASE
The 5th edition of Halal Expo, a dedicated business-to-business industry platform in the UAE, opened its doors as 60 companies including global suppliers of Sharia-compliant Islamic products and services converge at Radisson Blu Hotel, Deira Creek in Dubai to tap the immense opportunities of the globally booming $2.1 trillion Halal market.
The annual three-day exhibition has been instrumental in creating awareness and highlighting the potential of regional industry along with Dubai's strategic geographical, business and infrastructural advantages as the Middle East's hub Halal industry.
The highlight of Halal Expo 2012, expected to attract more than 4000 trade visitors from 58 countries, is a major participation from Malaysia lead by H. E. Y.B Datuk Hajah Rohani Binti Haji Abdul Karim, Deputy Minister, Ministry of Domestic Trade, Co-operative and Consumerism (MDTCC), Malaysia, who chaired the Dubai- Malaysia Business Forum organized on the sidelines of the exhibition. Malaysia aims to create a greater push for its more than 200 certified products and services in the local and regional market.
The global Halal industry estimated at $2.1 trillion per annum is booming as demand for Halal goods and services surges on back of a growing Muslim population-currently a quarter of the world population (1.8 billion in 2010) is estimated to reach 2.2 billion by 2030 representing 27% of global population.
The global Halal food industry clocking $667bn, accounts for 20% of the entire global food industry and continues to grow at 16% per annum. Increasing purchasing power along with a young 60% population under 30 years in Muslim majority countries ensures a sustained and steadily increasing demand.
Highlighting the GCC potential Nafees Ahmed, Project Manager, Orange Fairs & Events-the organizers of the annual Halal Expo, said, "According to latest statistics, annual food imports into GCC are set to grow from $25.8bn in 2010 to $53bn in 2020 and food exports all set to clock $40.1bn by 2015. The UAE Halal food industry is worth $550m per annum. The total imports of Halal meat (chicken and beef) into GCC countries, exceeds 1 million MT annually. With the population projected to rise by 40% by 2030 and awareness about Halal spilling beyond food and drink, the industry offers tremendous potential."
With no entry and exit barriers and governments committed towards the development of the sector through purpose-built manufacturing facilities and "halal logistics"—a system to maintain product purity during shipping and storage, GCC is fast emerging as a competitive yet attractive destination for global manufacturers and re-exporters.
"Halal Expo 2012 highlights these opportunities as companies, organizations and decision makers from all over the world gather to showcase products and services, acquire industry insight, network and establish trade relations and participate in knowledge and research driven discussions on various aspects of the industry including regulations, Halal certification etc. Additionally, with GCC countries importing 80% of their food requirements, food security remains a major concern. The expo will highlight the high investment opportunities available across the world via joint ventures, partnerships and acquisitions for the local industry," added Mr. Ahmed.
H. E. Y.B Datuk Hajah Rohani Binti Haji Abdul Karim, Deputy Minister, Ministry of Domestic Trade, Co-operative and Consumerism (MDTCC), Malaysia, said, "Malaysia has emerged as the South Asian hub of the Halal industry, having invested millions in five purpose-built Halal parks. Halal exports rose by 50% clocking $12bn last year. The GCC countries hold high potential for Malaysian exporters and manufacturers."
"Besides, Malaysia can be a significant partner in solving the region's food security issues through its purpose built facilities, well established supply-chain, excellent infrastructure and high connectivity. We are definitely seeking investments into the agro and other food based industries and Halal Expo 2012 gives us the right platform to address this agenda," she added.
Halal Expo 2012, is a comprehensive showcase of more than 200 brands targeting retail supply-chains, travel, tourism and hospitality, logistics, aviation, food and beverages, cosmetics, finance, IT, education, fashion and lifestyle, health and pharmaceuticals industries, government bodies, investors, business and trade associations, Halal certification boards and associations and other stakeholders.
UAE companies participating in Halal Expo 2012 include Meat One Middle East L.L.C, Emily &Chilli, Rafi Agri Foods International, Alyeza Trading, Night Orient, Orange Links Trading, Jan & Bros L.L.C, AL Manzoor Trading L.L.C, Gulf and Safa Dairies Co., Emirates Gourmet General Trading L.L.C Al Tamam Tech and Rawdah Farms.
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