DUBAI, 9 February 2007 — The importance of the halal food market will be highlighted at this year’s Gulfood, one of the world’s most important food, drink, foodservice and hospitality equipment exhibitions. The four-day event will be held at the Dubai International Convention and Exhibition Center on Feb. 19-22.
With Muslims making up around 1.79 billion of the world’s population, the rapid expansion in the halal food sector has become a key area of opportunity across the industry, according to senior executives from the World Halal Forum (WHF). The current estimated value of the total halal market is $150 billion, but this has the potential to rise to $500 billion by 2010, driven by the increasing value and diversity of the consumer market, combined with strong demographic trends, according to global group HighBeam Research.
“The profile of exhibitors at Gulfood has always offered a strong insight into trends in the food industries and the hospitality and service sectors that support them. As the number of companies attending the event looking to establish their profile in the halal food area continues to increase, it further demonstrates the strength and potential of the market,” said Helal Saeed Al-Marri, director general of Dubai Word Trade Center, organizer of Gulfood.
Commercially, the Islamic consumer market is the fastest-growing in the world. Europe’s Muslim population has grown by more than 140 percent over the past decade to reach 25 million, while Australia has grown by a significant 250 percent 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.
Gulfood will be hosting a Halal Industry Dialogue this year. The Halal Industry Dialogue, organized by The Halal Journal and sponsored by Al-Islami, will explore and examine the opportunities available within the international Halal market. “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,” Salama Evans, organizer of the Halal Industry Dialogue, said.
