Pakistan needs more efficiency in global halal market
More than 80 per cent of the world halal trade is done by non-Muslim countries.
ISLAMABAD: Government must give a better exposure to country exports by fulfilling the requirements of this potent source, as we have a great potential to become the halal hub of the region due to geo-economic position said CEO Harvest Tradings & Member Export ICCI, Ahmad Jawad.
He said that Pakistan’s strength is a 100 per cent Halal production base from a Muslim country, with over 170 million consumers within Pakistan and a direct access to a grand total of 470 million halal consumers in Afghanistan, Central Asia and the Middle East.
As per the latest research by the World Halal Forum, the total size of global halal food market is worth about $632 billion in 2009 and if we also include the non-Muslim consumers, the total figure will be much higher; Jawad said.
Halal industry experts believe the size of total global halal market (including all halal food, non food products and services) ranges from a minimum of $1.2 trillion to $2 trillion per annum.
Similarly more than 80 per cent of the world halal trade is done by non-Muslim countries, both in the West and East, who, by using the halal brand to their own economic benefit.
In the West, USA, Brazil, Canada, Australia, New Zealand and France are the biggest halal suppliers. In the East, Thailand is the biggest exporter of halal certified products after which Philippines, Malaysia, Indonesia, Singapore and India are the leading halal products suppliers to the world.
Harvest CEO further mentioned that Pakistan is still developing its own halal standards and there is no official halal certification body in Pakistan despite the fact country animal population around 159 million. The countries with Muslims majority are the most obvious target market for halal products especially for meat and meat products.
However, Muslims living outside the sub continent and Middle East are more in need of halal products and services, which creates a big opportunity for suppliers of halal products. In Europe, the market size of halal foods is estimated to be $66 billion, France having the largest share of approx $17 billion. In the UK, halal meat sale alone is worth over $600 million annually.
The American Muslims spend around $13 billion on halal food products annually. The GCC’s halal food imports are worth approximately $44 billion. Annual halal food trade in India is worth over $21 billion.
Indonesia’s annual halal food expenditure is over $70 billion; he added.
