Halal certified foods and their ingredients help companies to increase their annual sale in domestic as well as in international market. Beside food products the Halal subject covers cosmetics, pharmaceutical and countless other human consumables. Many Muslim countries require all food products, ingredients and other human consumption importing to their countries have to be ‘Halal Certified’, even non Muslim people also like halal certified products in various aspect.
According to a recent report, published by the World Halal Forum, global trade in halal food and beverages is currently estimated to be worth around USD 1.4 trillion annually. The outlook for the $2 trillion global halal industry that also includes fashion and entertainment is underpinned by a worldwide Muslim population. Malaysian Halal Industry Development, a government agency, estimates the global industry excluding financial services exceeds $2 trillion and will grow 4 per cent to 5 per cent annually.
Muslim markets provide a lucrative opportunity for companies in halal products or services. If companies want to export their products to those markets, they need to have halal certification. Halal certification enhances marketability of your product having opportunities to tap a global halal food market of about 2 billion people. Adherents of Islam constitute the world’s second largest religious group. According to a 2010 study that was released in January 2011, Islam has 1.6 billion adherents, making up over 22% of the world population. According to another study in 2015 Islam has 1.7 billion adherents.
Halal products are not only welcomed by Muslim consumers but by non-Muslim consumers as well because a Halal certificate represents high level of hygiene, cleanliness, safety, nutrition and is produced stringently under the requirements of the Islamic Dietary Law which more enhances the additional sale.