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Last Updated: Jun 25th, 2007 - 17:07:26 |
Australia's halal market grows 250% in a decade
Commercially, the Islamic consumer market is the fastest-growing in the world. Europe's Muslim population has grown by more than 140% over the past decade to reach 25 million, while Australia has grown by a significant 250% in the same period.
Once Asia's Muslim population of over one billion - including the world's fast-growing populations of India, China and Pakistan - is factored in, the full potential of the Halal food market becomes apparent.
'The Halal marketplace is emerging as one of the most lucrative and influential arenas in the world today, particularly as Muslim nations reach the stage of development required to shape global markets, both as producers and consumers,' said Salama Evans, organiser of the Halal Industry Dialogue.
Opportunities abound within and beyond traditional Muslim countries - the UK Halal market alone is currently a USD 4 billion market, with strong demand for specialised and healthy Halal food.
These factors are driving an increasing diversity of companies and countries to incorporate Islamic food standards, endorsed by a Halal authority, into the manufacture and preparation of food products.
Major food producing nations like Malaysia, Brazil and Turkey are striving to ensure that Halal standards are introduced into every link of the food chain.
In addition, the majority of the world's meat producing countries - including Argentina, Australia, Brazil, Canada, India, New Zealand, UK and USA - are incorporating Halal slaughter techniques across their operations.
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