How Global Muslim Consumer Markets are making it big
The global halal industry is growing rapidly. With over 1 billion potential consumers, the potential growth is still possible. The Muslim lifestyle market is now increasingly being accommodated for, marking a revolutionary movement for those of Islamic faith around the world.
Whether in fashion or food, the community now has greater options when it comes to daily lifestyle activities. Noman Khawaja, co-founder of Haloodies explains that “The market is growing like a train. By 2020, the halal industry is set to be worth $2.5 trillion and everyone is waking up to it. By 2030, 26.5% of the world's population is expected to be Muslim so this is a huge market.”
Founded four years ago by Noman Khawaja and Imran Kausar, Haloodies is a halal food brand that offers convenient and healthy products that also believes in high-quality food and animal welfare. Both founders left their full-time jobs to start their own Halal food corporation, in an effort to see their ideals become reality and cater for the growing demand.
Major companies are starting to follow this trend as well and beginning to cater for this relatively untapped market, an example being KFC, who has a chain of halal restaurants now. You can even get halal holidays and halal dating apps that all accommodate to this specific group.
Through the increase of Muslim tailored businesses, not only is this catering to their needs, but it is also bringing the products out to markets not traditionally associated with ‘Islamic’ products. Due to more people being educated on Islamic traditions, the negative perception associated with certain practices are being changed. For example, “People often assume that halal meat meant that the animal suffered but in fact, we strongly believe in animal welfare and taking care of the animal,” explains Noman.
Similarly, modest fashion has previously been seen as covering up for religious purposes which is argued as being restricting, but in fact, there are many varieties of modest fashion which have now become global trends. Many now suggesting it to be a form of expression rather than restriction.
The future looks very bright for the halal market with the increase in Muslim Millennials and greater demand. “The response has been great so far and we one day hope to have Haloodies products in every fridge around the world,” says Noman.
“Haloodies was formed to educate everyone about the beauty of Halal as we have a responsibility, as Muslims, to spread the word of Islam, while catering and providing Muslims with items that meet their specific requirement,” says Noman. “Not just that, but there is a business perspective as we are able to provide jobs and support the community through this increasing demand.”
“We are expecting to go global soon and provide for halal consumers. There is a need to meet and we are going to try and meet it,” explains Noman. Thanks to corporations such as Haloodies, the Muslim market has been able to accommodate everyone's needs, no matter the faith, and has enabled the world to be educated about Islamic practices, changing ideologies one step at a time.