SUBSCRIBE

Breaking News on Food & Beverage Development and Technology - Asia PacificEU edition | US edition

Headlines > Markets

Read more breaking news

 

 

UAE awarded top spot in rankings of halal food ecosystem

Post a commentBy RJ Whitehead , 25-Jan-2017

© iStock
© iStock

The UAE has come first in an authoritative new ranking of global nations with the best developed halal food ecosystems.

The annual Thomson Reuters report on the global Islamic economy placed Australia and Pakistan second and third through a system that awards points according to supply drivers relative to country size, halal governance, promotion efforts and food pricing. 

The UAE gained top spot in the news organisation’s Halal Food Indicator due to “a significant strengthening of its regulatory oversight of the halal food industry, and a vast improvement in awareness, driven by strong publicity”.

The report estimated that halal-certified foods alone accounted for US$415bn of sales in 2015, out of an overall market currently valued at US$1.17tr. This, in turn, is predicted to grow at an average annualised rate of 9% until 2021.

However established this sector becomes, there seems to always be further room for growth and opportunity,” the report’s authors wrote, adding that they expected consumer spending to increase by almost one-fifth in the coming years.

[Its] growth shows no sign of slowing down as this report estimates Muslim food and beverage expenditure to grow to US$1.9tr by 2021

With creative innovations taking place, such as a Ramadan energy bar, and many opportunities to tap into high-potential segments such as halal baby food, the halal food sector proves it will remain a flourishing sector for many years to come.”

According to Thomson Reuters’ Halal Food Indicator, the UAE overtook Malaysia as the leading halal ecosystem following a “significant strengthening” of its regulatory oversight of the halal food industry, and a vast improvement in its awareness score, driven by strong publicity.

Australia leapfrogged Pakistan in the rankings “due to it maintaining a high level of exports, while also increasing awareness of and publicity for halal food”.

Though overtaken, Pakistan nevertheless occupies a strong third position, and was credited for having maintained low food prices, relatively strong regulation and a growing certification ecosystem. 

The collective Muslim food economy’s expected 2021 value will rank it first in terms of market worth, followed by nations such as China (US$854bn), America (US$770bn), Japan (US$380bn), and India (US$341bn). 

Indonesia, the world’s most populous Muslim nation, spent the most on halal food in 2015, at US$155bn. Other leading countries included Turkey (US$116bn), Egypt (US$78bn) and Saudi Arabia (US$48bn).

Besides first place in the Halal Food Indicator the UAE also topped the halal rankings for modest fashion, halal travel, media and recreation, and pharmaceuticals/cosmetics. Taking into account all categories, the country was awarded second place, behind Malaysia.

Relative to its size the UAE has established a very healthy ecosystem for Islamic Economy companies,” the authors concluded. “The strong government-led Islamic economy development initiatives has given the UAE a strong platform for the development of all halal sectors.”

Post a comment

Comment title *
Your comment *
Your name *
Your email *

We will not publish your email on the site

I agree to Terms and Conditions

These comments have not been moderated. You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment. Any comment that violates these terms may be removed in its entirety as we do not edit comments. If you wish to complain about a comment please use the "REPORT ABUSE" button or contact the editors.

Key Industry Events

 

Access all events listing

Our events, Shows & Conferences...