يَـٰٓأَيُّهَا ٱلنَّاسُ كُلُوا۟ مِمَّا فِى ٱلْأَرْضِ حَلَـٰلًۭا طَيِّبًۭا وَلَا تَتَّبِعُوا۟ خُطُوَٰتِ ٱلشَّيْطَـٰنِ ۚ إِنَّهُۥ لَكُمْ عَدُوٌّۭ مُّبِينٌ - Surah Al-Baqarah [2:168]
يَـٰٓأَيُّهَا ٱلنَّاسُ كُلُوا۟ مِمَّا فِى ٱلْأَرْضِ حَلَـٰلًۭا طَيِّبًۭا وَلَا تَتَّبِعُوا۟ خُطُوَٰتِ ٱلشَّيْطَـٰنِ ۚ إِنَّهُۥ لَكُمْ عَدُوٌّۭ مُّبِينٌ - Surah Al-Baqarah [2:168]
Press Release
The Expanding Horizons of the Halal Market: Trends, Challenges, and the Role of Certification in a Growing Global Industry
 
The Expanding Horizons of the Halal Market: Trends, Challenges, and the Role of Certification in a Growing Global Industry
(February 06, 2024 – Lahore, Pakistan): The Halal market transcends food and beverages, encompassing everything from travel and tourism to cosmetics and pharmaceuticals. This diversity is fueled by the growing Muslim population, expected to reach 2.3 billion by 2030, representing nearly 30% of the global population. In 2023, the market reached a staggering value of about USD 1.91 trillion. This growth is expected to continue, with projections indicating a compound annual growth rate of nearly 16.5% from 2024 to 2032. This demographic shift, coupled with rising disposable incomes and increasing awareness of Halal principles, is driving the market's expansion.

With the market's rapid growth, ensuring product and service integrity through Halal certification has become paramount. Halal Research Council, at the forefront of this movement, emphasizes the significance of rigorous certification processes that adhere to the highest Islamic standards. This not only safeguards consumer trust but also opens doors to lucrative international markets where Halal certification is often mandatory.

Our services span across various sectors, including food, pharmaceuticals, cosmetics, and travel, reflecting the diverse needs of the global Halal market.

The Halal industry is highly institutionalized, comprising government regulations, Muslim demands for Halal products, and intense industry competition. These factors have led to the implementation of Halal food certificates, a trend that HRC has been instrumental in promoting.

Halal Research Council’s market analysis reveals several key trends shaping the future of Halal certification:
  • Technological Integration: Blockchain technology is revolutionizing traceability and transparency within supply chains, ensuring product authenticity and enhancing consumer confidence.
  • Sustainable Practices: Consumers are increasingly seeking Halal products that are also environmentally friendly and ethically sourced. Certification bodies are adapting to cater to this growing demand.
  • Rising Demand for Niche Certifications: As consumer preferences become more diverse, specialized Halal certifications are emerging for specific sectors like sports, leisure, and finance.
  • Focus on Education and Awareness: Building consumer understanding of Halal principles and certification processes is crucial for sustained market growth.

Halal Research Council identifies several emerging areas with immense potential for Halal certification:
  • Nutraceuticals and Functional Foods: As health and wellness become priorities, Halal-certified nutraceuticals and functional foods are gaining traction.
  • Islamic Fintech: Integrating Islamic principles into financial services such as banking and insurance is a rapidly growing segment.
  • Halal Tourism: Muslim travelers are seeking destinations and experiences that cater to their cultural and religious needs, presenting a lucrative opportunity for tourism providers.

As the demand for Halal products continues to rise, HRC is committed to playing a specific role in meeting this demand. We are continually innovating our certification processes to stay ahead of these trends and meet the evolving needs of the global Halal market.

As we look to the future, Halal Research Council provides reliable, comprehensive Halal certification services that consumers can trust. We are excited to be a part of this global movement and look forward to continuing to serve the Halal community.

About Halal Research Council: Halal Research Council certifies the products under the reverent coordination of recognized Shariah Supervisory Board, highly qualified Food Technologists, Chemical Engineers and R&D professionals in respect of eligibility for Certification through research based methodology scrutinizing the sources of ingredients, examining the entire supply chain, chemical examination and analyzing Shariah prospects of ingredients used in the products. For more information, please visit our website at www.halalrc.org

For Media Contact:
Ms. Shaguftta Perveen
Manager Communications,
info@halalrc.org | Call: +92 42 35913096 - 98
 
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