Iran’s Share of Global Halal Market at Less Than 1%

EghtesadOnline: Iran accounts for less than 1% of the global trade of halal products, according to the Leader of the Islamic Revolution's representative in the Agriculture Ministry.

News ID: ۷۴۹۶۸۸

15 February 2020

“The global halal market turnover amounts to around $4 trillion per year, yet Iran’s share in this market is meager. Iranians account for 4-5% of the world’s Muslim population and we are neighboring more than 350 million Muslims in the region,” Reza Taqavi was also quoted as saying by Mehr News Agency.

The official added that Iran has the capacity to increase its share and provide halal products for this huge and expanding market, according to Financial Tribune.

“Halal standards have been written by countries like China, the US and some European states. The first halal standard was written in the US. This is while all Iranian products are halal,” he said.

Although 100% of Iran’s food exports are halal, not all exports are conducted under the official halal brand.

Figures show that the sale of halal food is increasing by as much as 30% per year and the halal food industry is growing at a fast pace across the world, according to Fars News Agency.

Halal is an Arabic word meaning “permissible” or “lawful”, the opposite being “haram”, which means “forbidden” or “unlawful”. The two terms govern almost every aspect of Muslims’ lives, including food, clothing, banking and traveling.

In recent years, halal has evolved in meaning to encompass a range of hygienic and high-quality food products, cosmetics, personal care products, leather goods and food ingredients.

Under the definition proposed by the United Nations Food and Agriculture Organization in 1997, halal food incorporates not only production and processing procedures, but also the manpower, transport, storage and equipment used in different stages.

Initially, halal food was consumed only by Muslims, but now they are favored globally by people of all religions and ethnic backgrounds, as they are known for being safe, hygienic and qualitatively good.

With the rise in demand for halal food products, producers from non-Muslim countries such as the US, Brazil and Australia are keen to tap into this market.