The future is happening faster than ever, thanks to the brisk pace of techno innovation and digital culture. We can also witness the developing trends in travel and hospitality, brands and marketing, food and drink, beauty, retail, health, lifestyle, and luxury through social media. With this, consumers are more demanding of brands than ever.
As we all know, Muslims are the second largest population worldwide and globally, the fastest growing religion and it is also projected to claim a large share of consumer spending. Therefore, many brands and retailers are increasingly paying attention to Muslim consumers. Below is the Top 5 Trends for the Muslim Market Headed into 2018.
Global Halal Food
By 2018, the halal food market is projected to be worth US$1.6 Trillion and is expected to grow faster than the conventional food market, according to studies. In addition, it could constitute almost 17% of the world food market by 2018. This means, that the demand for Halal meat, an important feature of life across Muslim communities, is growing rapidly.
With this, many Muslim countries will import halal food from a non-majority Muslim country. The Philippines is an example of a non-majority Muslim country which sees the opportunity in the halal market, investing more to boost the nation’s capacity to manufacture halal products and services. They have forged partnerships with Brunei, Indonesia and Malaysia to help with their efforts.
In addition, a global brand in Taiwan, Michelin-starred Din Tai Fung dumpling restaurant chain has replaced pork with chicken at some of its outlets in Jakarta and Kuala Lumpur. And also the growing Halal market offers growing opportunities for meat and poultry farmers, manufacturers, retailers, exporters, and foodservice operators. The major market players are Nestle, Cargill, Unilever, Kawan Foods, and others.
According to the 2017 State of the Global Islamic Economy Report, Muslim consumers spend an estimated US$272 billion on clothing and the industry is projected to grow to US$322 billion by 2018 — larger than the current clothing markets of the UK (US$107 billion), Germany (US$99 billion) and India (US$96 billion) combined.
Global brands are already beginning to cater to this influential group. Shiseido’s Za line is now halal-certified, Uniqlo has introduced a range of modest clothing and Brands eyeing the Muslim market should not overlook this connected young cohort.
And with growing participation of Muslim men and women in enormous events likeOlympics, it is required to make necessary changes to the wardrobe of the participants bearing in mind the modesty in attire promoted by the community. There are sports friendly headscarves, loose-fitted trousers and full-sleeved t-shirts along with jackets. The outfits are available in various ranges like watersports, casual and exclusive.
Today the influence of ‘modest’ fashion trends can be spotted influencing street fashion. This proves the strength of the emerging niche of the Muslim fashion world.The main segments of the global clothing industry value chain that are directly influenced by the emerging Islamic clothing needs and, therefore, present ample potential business opportunities are: clothing manufacturers, specifically manufacturers of women’s wear, distribution channels or retailers, including those online, and designers.
Halal Cosmetics and Personal Care
The strong demand for halal beauty and care products is growing rapidly, that led the Halal Cosmetics and Personal Care Products Market expands briefly. Report says that it will grow to 13.43 percent in 2018. One of the key factors contributing to this market growth is the increase in the Muslim population. The massive potential of Muslim consumers has long been recognized by Western multinationals, that’s why global brands embraced the thought of Halal Cosmetics and personal care. Their products are certified by halal certification organizations which operate under Islamic law.
The halal cosmetics and personal care market grows spectacularly not only in the Muslim countries but also in the Non-Muslim countries. Halal cosmetic and beauty care products are widely accepted by other communities as they are considered safe, of high quality, to have been prepared using hygienic procedures and are widely recognized for their purity and high quality. Moreover, the integrity of the cosmetics is maintained during the production process. Hence, there is huge potential for the global market to grow during the forecast period because of the increased acceptance of and demand for the products in the developed non-Muslim countries.
The halal industry in one of the fastest growing consumer segments in the world. Halal is no longer exclusive to the food sector but has also include Halal Travel. In the year 2018, the estimated Muslim travelers will be around 321 Million.
In 2018 many countries are eyeing for Halal Tourism also known as family-friendly tourism. Like in Indonesia, they considered Halal Tourism to be one of the big contributors for their national income. They were preparing Halal travel destinations in their country and held an event about halal tourism and invited several hotels, travel agents, spa places and communities that work in the family-friendly tourism business. And they were targeting three million Muslim tourists in 2018.
Japan is also popular among Muslim Travelers; which estimated they will welcome more than one million Muslim travellers in 2018. An increased number of halal restaurants and prayers rooms were shown in the market to ensure that the halal travellers will be convenient during their visit.
The scale of the global halal logistics industry will reach $411 Billion in 2018. It grows hand and hand with the growing F&B market. Halal logistics is an approach to avoid contamination of perishable, raw materials and food products during transportation or distribution activities. It is also to avoid products missed information and to ensure that Muslim consumers will receive and consume only the Halalan Toyibban products.
It shows that the demand of Halal Consumers globally is rapidly growing. This will involve many business entities such as suppliers, manufacturers, distributors and retailers. The industry of Halal Logistics will welcome a huge number of business partners as the demand for halal products all over the world grows.
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