Halal market

The halal market can be defined as the range of products and services offered to consumers who understand the meaning and requirements of halal. The modern halal market began to develop in response to growing demand for halal food, particularly meat, following the arrival of increasing numbers of Muslims in Western, predominantly non-Muslim countries during the 1960s. In response to this demand, many butchers and food manufacturers began adapting their products and production processes to meet halal requirements. As Muslims live across all regions of the world, the halal market has developed into a truly global market. 

There are an estimated 1.6 billion Muslims worldwide, and this number is projected to reach approximately 2.2 billion by 2030. With around 60% of the global Muslim population under the age of 30, demand for halal food and other halal products and services is expected to continue growing significantly over the coming decade. 
According to the International Trade Centre's Halal Goes Global study (2015), Muslims represent one of the fastest-growing consumer groups worldwide. For producers and businesses, failing to consider how their products and services can meet the needs of this growing market means potentially missing out on significant business opportunities. 

Although Muslims remain the primary consumer group for halal products, demand among non-Muslim consumers is also increasing. This is partly due to the perception that halal-certified products meet high standards of quality, hygiene and additional controls. For example, in the United Kingdom, Muslims account for approximately 3% of the population, while halal meat is consumed by around 20% of all consumers.49 Beyond food, the halal market has expanded into a range of other sectors, including pharmaceuticals, cosmetics and tourism.

Market Statistics
 

Chart 20^*. Export performance following halal certification (Survey conducted among Croatian producers holding halal certificates, n=27), 

Chart 21^*. Impact of halal certification on producers' profitability (Survey conducted among Croatian producers holding halal certificates, n=27)

Chart 37^*. Impact of halal certification on profitability (Survey conducted among Croatian hotels, restaurants and travel agencies holding halal certificates, n=20)

^*Dugonjić, Aldin, "Halal Standard Tailored to People", Islamic Community in Croatia, Zagreb 2019. (Data collected through a survey conducted in September 2016, involving 27 halal-certified producers and 16 halal-certified hotels, restaurants and travel agencies in Croatia.)