With the halal food market in the Middle East forecast to reach $45 billion by the end of 2010 according to the International Halal Integrity Alliance (IHIA), the Arab world is considered a premier market for halal products. Interestingly, this market relies overwhelmingly on imports of halal commodities, with the UAE alone importing $150 million worth of halal food products per annum. The re-export trade from the country to markets around the region is currently valued at between $30 million-$50 million. Demand is strong and growing, as is evident at this year's Gulfood exhibition, the Middle East's largest trade-only event for the food, beverage and hospitality industry, which opens Sunday, where a record number of companies will be exhibiting halal products. The show takes place from 21-24 February at the Dubai International Convention and Exhibition Centre (DICEC). “The pivotal role that Gulfood plays in both showcasing products and driving market activity is well demonstrated in the halal food and beverage category. Not only do a wide range of international suppliers travel to Dubai to attend Gulfood, we have also attracted a growing number of local and regional companies who specialise in the halal market,” said Trixee Loh, Senior Vice President, Dubai World Trade Centre (DWTC), the organiser of Gulfood. “With the global halal food industry estimated to be worth more than $650 billion this year according to Business Monitor International, this is a major business and the opportunities are substantial,” he said. The tracking of halal global megatrends is also one of the key topics at this year's Gulfood conference, with strong interest being shown for the session which will be presented by Al Islami Foods CEO, Alex Andarakis Tuesday. “Halal, has become a global mega trend and is gaining serious momentum with investors, suppliers, producers, and retailers,” said Andarakis. “Countries that will succeed in entering the international halal market will be those who pay attention to the details of quality, standards and marketing, aligned with the most active players such as Malaysia, Thailand, Brunei, Singapore, Turkey and now UAE.”
