- Market size 2016: USD 1.24 trillion
- Year-Over-Year Growth (2015-2016): 2%
- Projected Size in 2022: USD 1.93 trillion
The USD 1.24 trillion halal food and beverage industry is ripe with potential and a driver for growth across all halal industries. Its success is only partially due to globally rising Muslim populations. Increased affluence of Muslim minorities in Europe, North America, and other regions creates 15% of global halal food and beverage spending. Along with notable preferences for high-quality halal products by non-Muslims, these factors are expected to generate a USD 1.93 trillion market by 2022.
Consumer demand for authenticity and reliability in the industry has led to investment and innovation. Multi-national corporation Unilver recently invested USD 33.3 million in Southeast Asia’s halal foods market. Halal blockchain startups are developing tracking systems to verify the source of halal ingredients, bridge gaps in standardization across different countries, and generally unify a fragmented market.
Bosnia and Herzegovina is uniquely positioned as a gateway for the halal food and beverage trade. The country became a regional hub for halal products after establishing Europe’s first agency for halal quality certification in 2006; the 17% growth of Balkan halal consumption in 2016 outpaces global rates. In part due to these trends, an influx of halal foods-focused regional investment continues to increase.
Expected exhibitors: food suppliers, distributors, and retailers, testing and certification organizations, logistics companies, farming and agriculture companies, restaurant and dining companies, animal feed and supply companies, private ratings agencies, import/export specialists, investors