Market Insight

Halal Market

  • Oman’s retail halal food business seeing profits jump by 200% in the last 5 years.
  • Global Halal food market is set to grow at 4.44% from 2012-16.
  • Middle East imports most of its food valued at US$15.4 billion .
  • GCC halal food imports is set to increase US$44 to US$53 billion by 2020.
  • Globally, Muslim consumers spend up to US$70 billion on pharmaceutical products.
  • Islamic financial assets estimated at US$1.35 trillion is growing at 15-20% annually.
  • Muslims spent on halal products & services is set to increase 52% to US$2.47trillion by 2018
  • GCC’s travelling spent is set to increase from US$64 to US$216 billion by 2030.
  • By 2018 US$1.6trilion is estimated to be spent by Muslims on food & beverges.
  • The Muslim travel market is set grow to 150M by 2020 with market value of US$200billion
  • Oman is ranked at 7 in Global Muslim Travel Index recording 670,000 Muslim arrivals.
  • Halal industry comprising of food, pharmaceuticals, cosmetics, logistics and tourism is US$2.6 trillion , almost twice the size of Islamic finance.