Global firms eye $19.8bn ME Halal market
Dubai, July 24, 2008
Many international companies will be in Dubai to attend the upcoming 'Halal Expo 2008' to tap into the Middle East region's Halal industry which is estimated to be worth over Dh73 billion ($19.8 billion).
The expo has sparked immense interest among global giants who are looking to strengthen their operations in this highly profitable market and boost the presence of 'Halal' products within the catering, hospitality, food and beverage, health and pharmaceuticals industries, said the organisers.
Orange Fairs & Events will host the event from November 24 to 26 at the Crowne Plaza Hotel in Dubai.
The exhibition aims to provide a high impact platform to aid companies who are looking to leverage the high demand for Halal food products in the region, which have grown to comprise a significant part of the global Halal food market, expected to reach 500 billion by 2010.
Amidst the growing demand, Dubai has emerged as one of the first to leverage the booming prospects within the Halal market after establishing a highly successful food processing industry, which rakes in more than Dh11 billion per year.
Furthermore, the emirate’s food processing sector is expected to rise by 11 per cent annually, owing to its growth as the world’s third largest re-exporter, with 72 per cent of its exports being shipped to Asia, Africa and Gulf countries.
In an attempt to address the growing demand, the organisers of ‘Halal Expo 2008’ have expanded the event's venue to a total of 1,500 sq. m. in order to accommodate the 7,000 to 8,000 visitors who are expected to take part.
“The growth of the global Halal food industry is well exemplified by the expansion of the Halal food trade in the region, specifically in Dubai, which is being regarded as a global hub for Halal products,” said Raees Ahmed, director, Orange Fairs & Events.
"Additionally, Dubai’s open trade policies have encouraged the growth of the Halal food industry not only in the region, but as well as in western markets where the Muslim population has seen a significant growth."
"Our goal is to foster trade and facilitate a platform that promotes convenient access to genuine Halal goods, and therefore further the development of Halal trade," he added.
In addition to the Halal food industry, related businesses such as Islamic finance, eco-tourism, and pharmaceuticals have mirrored the current uptrend of Halal food and personal care products trade.
As such, ‘Halal Expo 2008’ will also feature breakthrough findings, new technologies and improved processes with regard to these related businesses, which will be presented to visitors during the event.
Furthermore, a round-table dialogue among leading industry players will also ensue during the ‘Halal Forum’, which will be held on the second day of the event.
"The diversified Halal industry further intensifies its potency to grow in terms of revenues and scope, thereby opening up opportunities to more companies within the Halal industry to capitalise on."
"By offering extensive networking opportunities, in addition to interactive seminars, for the food service, hospitality, retail, logistics, import/export and packaging industries, we are seeking to impart a global perspective to the current market scenario." Ahmed observed.
"The presence of major players and experts in the Halal industry from across the globe testifies to the credibility and importance of this event, which we are hoping will introduce an internationally accepted standard for the Halal industry,” he added.-TradeArabia News Service
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