Thanks to its steady growth, the Islamic economy has become an established reality in the system of the global economy. Its total volume is estimated at just over $ 2 trillion. The European share amounts to about 70 billion Euros, mostly from the food production sector. Other growth segments include cosmetics and pharmacy, lifestyle and clothing, and services such as finance and tourism. By 2020, market share is expected to increase by a further 6 percent.
With immigrant Muslims starting to settle in the West and becoming increasingly conscious of their purchases, the market for Halal food in the region expanded continuously. Concurrently, in many Islamic countries importing food from non-Muslim countries, concerns occur about the compliance of imported goods with Islamic dietary requirements. This resulted in governmental Islamic authorities to establish guidelines for Halal standards and certification to guarantee the monitoring and auditing of the food industry.
The rapid growth of the market has captured significant attention across all sectors of the industry. Companies that aim to enter or expand in this dynamic market or want to export to Muslim-majority countries can gain international recognition and increase the trust of their customers in their services and products by offering certified Halal products that will meet all important requirements and allow them to enjoy a larger market share.