Gulfood 2016 focuses on a fast growing market: Halal food
Over 800 Halal certified companies set for Halal World Food at Gulfood 2016 as major international retailers explore new products inDubai re-exports boost Halal sector opportunities to come under conference spotlight at Gulfood Halal Forum.
Worldwide spending on global Halal food and lifestyle products could rise 10.8 per cent a year until 2019 to create an international industry worth US USD 3.7 trillion, according to the latest Global Islamic Economy Report.
The Halal food sector alone will grow to a valuation of US USD 2.537 trillion by 2019 – up from USD 795 billion in 2014 – equating to 21.2 per cent of global food expenditure. The top countries with Muslim consumer food consumption are Indonesia, with a market worth USD 190 billion, Turkey, where the market is valued at USD 168 billion, Pakistan at USD 108 billion and Iran, where the market equates to USD 97 billion based on 2013 data.
Meanwhile, Malaysia, the UAE and Australia lead the report’s Halal Food Indicator – a gauge that focusses on the health of the country’s Halal Food ecosystem in relation to its size.
The UAE’s advancing status as an international centre for Halal food trading is evidenced by Halal World Food – the world’s biggest annual Halal food sourcing trade event – featuring more than 800 certified suppliers in only its third year. The segmented show-within-a-show concept at Gulfood 2016 returns to Dubai World Trade Centre (DWTC) from February 21-25.
“Adding more than 100 new Halal food companies highlights a leap in demand as major local, regional and international Halal food producers explore new areas of business opportunity and investment,” said Trixie LohMirmand, Senior Vice President, Exhibitions & Events Management, DWTC. “The increase in our Halal exhibitors and companies is being driven by investment opportunities across the Halal food value chain, Halal food SMEs seeking Islamic financing for working capital, trade financing and expansion needs, M&A opportunities, organic, pure and wholesome new products, Halal ingredients and co-operation on building global or regional brands that deliver on Halal integrity.”
The global Halal food sector also underpins this year’s two-day Gulfood Conference programme at the five-star Conrad Dubai hotel from February 22-23.
The Gulfood Halal Forum – a dedicated summit on February 23rd – will examine the potential of and opportunities across the global Halal economy, the regulations and trade procedures behind exporting Halal products to the GCC, Halal food and Dubai’s economic ambitions, growing Halal demand and the ratification of new GCC standards and the global call for unified Halal practices.
Gulfood 2016 is a strictly trade-only event for business and trade visitors. The show is open 11am-7pm from February 21-24 and 11am-5pm on February 25.