The Halal market is not static. It is an evolving market phenomenon that is emerging as a new force within global commerce.
With a foundational consumer base of 1.5 billion Muslims around the world, the Halal sector is rapidly finding common ground with other market forces.
The global trends towards natural, healthy, fairtrade and environmental protection, plus the strong focus on ethic practices in finance and investment are all helping to bring the Halal movement into stronger and more relevant perspective.
Industry stakeholders are increasingly realizing that the opportunities within the Halal sectors extend far beyond the scope of food production. As the market develops, we are seeing the emergence of a full spectrum of products and services that are all related to the Halal sector.
As these new entities mature and begin to interact with each other, we are starting to see the unfolding of the next phase of growth of the Halal movement.
One clear example of this new phase is the increasing scope of activity between the Halal sector and Islamic investment. As the market matures, the opportunities for investment, mergers and acquisitions are increasing. Islamic Investment funds with a specific focus on the Halal industry are increasingly appearing, and the ground of common interest between these two shariah-compliant sectors continues to strengthen.
The rise of Halal tourism, the need for sector specific ICT initiatives, Halal pharmaceuticals, industrial park developments and the appearance of Halal science are all signs that this new Halal Market Economy is taking shape, and is showing every sign of being a powerful new market paradigm for the 21st century.