Global halal market rakes in over US$580 billion

The halal food and industrialised product market has an annual turnover of US$580 billion worldwide, with Latin America accounting for US$1 billion.

According to the marketing director at Al Islami Group, Brazil is among the countries benefiting most from global growth of halal markets.

Figures were presented on Monday (Feb 22) by Ayman Hamed, the marketing director at Al Islami group, during a luncheon promoted by the Dubai Chamber. Al Islami, headquartered in Dubai, is the first halal brand in the Middle East.

According to Hamed, in the US, for example, the Muslims spend around US$16 billion a year in kosher products, due to the lack of halal products. The halal market currently supplies 1.8 billion Muslims on five continents.

Meanwhile, the Dubai Chamber is urged to promote a mission to Brazil in the first half of this year, for discussion and promotion of an annual seminar between São Paulo and Dubai. The subject is also being developed by the Arab Brazilian Chamber of Commerce.