“Muslim consumers globally, while culturally diverse and geographically distributed, drive a cohesive two-trillion-dollar market opportunity across a range of lifestyle products and services, impacted by Islamic faith-inspired ethical needs, and collectively known as the “Islamic Economy.”  Introduced in 2013, this report defines Islamic economy as “sectors whose core products/ services are structurally affected by Islamic […]

Islam is the world’s fastest growing religion but despite the increasing numbers, Christians will still outnumber Muslims in 2050, a new report has found. Religion, despite its decline in the West as the map above shows, is proliferating across the world – by 2050, Muslims will make up 10 per cent of Europe’s population. By […]

Shari’ah mutual funds provide similar opportunities compared to conventional mutual funds, The majority of the respondents expressed their view positively. According to them, Shari’ah mutual funds have similar features and provide the same opportunities. Two interviewees expressed that Shari’ah mutual funds are governed by main sources of Shari’ah law and regulations. In this context, “Shari’ah […]

From the supply side, the global halal industry is attracting key multinational players into joining the industry, driven by the tremendous business prospects available. In the last few years, world’s major brands in the food industry now provide halal certified products in both OIC and non-OIC countries, for e.g. halal fast food outlets in Western […]

The global halal market size was valued at USD 4.55 trillion in 2017. Growing Muslim population all over the world is a key market growth driver. Over the past ten years, the Muslim population has increased by nearly 18%, this, in turn, is expected to increase the global halal products market demand over the projected […]

The global halal industry is estimated to be worth around USD2.3 trillion (excluding Islamic finance). Growing at an estimated annual rate of 20%, the industry is valued at about USD 560 billion a year. Thus, making it one of the fastest growing consumer segments in the world. The global halal market of 1.8 billion Muslims […]