JNN 17 May 2013 Islamabad : Halal export market offers $ 1.3 Trillion potential and EPZA should submit a detailed proposal, on priority basis for establishment of halal export processing zones in Pakistan.
It is ironic to note that most of halal product demand is fulfilled by Non –Muslim countries, whereas Muslim countries have a meager share in this very fast growing market.
The demand of halal products in the western countries is mainly fulfilled by USA, Brazil, Canada, Australia, New Zealand and France. As far as the eastern countries are concerned, Thailand is the biggest supplier of halal certified products followed by Philippines, Malaysia, Indonesia, Singapore and India. This was stated by Shahzada Ahsan Ashraf Shaikh, Federal Minister, Industries & Production during his meeting with Chairman Export Processing Zones Authority, Mr. Saadat S. Cheema in Ministry of Industries and Production in Islamabad.
On this occasion Federal Minister Industries & Production assured complete support to EPZA from the ministry for setting up Halal Export Processing Zones in different cities of Pakistan.
In his presentation Chairman EPZA, Mr. Saadat S. Cheema, said that a large number of Non-Muslim consumers world over also prefer halal products due to reasons of cleanliness, hygiene and purity as quality assurance is considered a prime issue in those societies.
Pakistan’s biggest competitive advantage in the region is the availability of an entire Halal production base coming from a Muslim country which has a direct access to a large base of halal consumers in Afghanistan, Central Asia and the Middle East.
Investors in Pakistan also need to recognize the fact that Halal market is not only constrained to food items. This segment includes products like Cosmetics, Pharmaceuticals, Leather Goods and Islamic Financial Services. Food only forms 2% of the Halal market. Mr. Cheema added.
A Detailed Report is made by our Research Department on the Halal Products which it self proves the Potential of the Halal Market world Wide as follows :
American Muslim Population is estimated at 8 Millions (7 Millions in the USA & 1 Million in Canada) 60% of US Muslims are under 40 years old
American Muslim Annual Income:
66% of American Muslim House Hold’s earn over $50,000
26% of American Muslim House Hold’s earn over $100,000
Share of GDP is estimated at $405 Billion
Annual combined spending power at 170 Billion
Annual Halal Food Market potential: $30 to $40 Billion
International: Global Muslim Population is estimated at 1.5 Billion Muslims constitute an estimated 25% of the World Population.
Muslim majority in 57 countries (from Morocco to Indonesia)
Muslim minorities in all five Continents of the World
Global Annual Share of estimated GDP at $3.4 Trillion
Annual Halal Market potential: $800 Billion to $1.2Trillion
Muslim Countries Have Food & Agricultural dependency to the rest of the World
- “10th Malaysia International Halal Showcase” Organized to Highlight the growing Halal Industry in the World (jafrianews.com)