عالمی حلال صنعت اور اس کے بڑھتے ہوئے رجحانات(ایک تحقیقی مطالعہ)
Abstract
The global halal industry as a whole has an annual value of approximately 2 trillion US dollars, which is now one of the fastest growing markets. At the same time, the global market growth is estimated to reach an annual rate of 20 percent per annum. Halal industry is no longer limited to food and food-related products (rather its scope has now expanded to cosmetics, pharmaceuticals, ceramics, halal tourism, etc.). This paper attempts to review the current realities of the global halal industry by observing the factors that determine the growing demand for the halal industry apart from the opportunities presented by recent global developments in the market. In order to achieve the objectives of the study, this paper has adopted the methodology of analyzing secondary data obtained from various sources.
The findings show that there are three major factors driving the fast-growing global halal market. First, a large and growing Muslim population at a rate of 1.8 percent per annum, second, increasing economic growth and hence increasing purchasing power of Muslims. The last is the emergence of a potential halal market in non-Muslim countries and halal industry traders. Moreover halal supply chain can plays a vital role in continuously growing Halaal economy/market if public and private sector show a keen interest in it. As a way forward, industry traders need to deepen their knowledge and understanding of the Muslim market (patterns and behaviours), regularly update data, and address untapped market niches. Along with the product sales and promotion should be leveraged. The findings and recommendations of this work will be an excellent resource for future researchers and scholars in related fields as well as policy makers to make their strategic decisions in the areas of halal industry.
References
Dr. Abdullah Saleh ,Director, SZIC, P.U, Lahore
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