16th November 2022 16:00 – 17:30
4th Mediterranean Halal Industry Forum
The Forum aims to raise awareness about the halal Industry by hosting sessions where halal-related topics in food, tourism, textile, modest fashion and other sectors will be discussed. ASCAME, the Barcelona Chamber of Commerce and our partners intend to raise awareness about the potential of the halal industry: it is likely to grow USD 4 trillion in the next five years, produce stable growth market and create trading opportunities for halal-focused Mediterranean and Europe businesses with others Islamic countries. The Mediterranean Halal Industry Forum, a MedaWeek Event, brings together key halal sector players and senior government decision makers to discuss commercial and business opportunities and provides a platform for companies based in Europe and the Mediterranean to forge industrial and supply partnerships with businesses in the Islamic countries, in addition to offering Mediterranean public institutions and research centres the opportunity to interact with global players in Islamic finance and the wider Islamic economy. Barcelona is keen to attract investments and trade platform in the Mediterranean and South Europe.
The COVID-19 pandemic that has beset the world since late 2019 inadvertently dampened efforts for more industries to be more competitive in efforts to achieve the global Halal market goal in 2030.
The Islamic Economy affects the lives of more than just the 1.8 billion Muslims worldwide about 23 % of the global population and consumers with an average growth rate of 3% per annum. If this growth trend continues, Muslims are expected to make up about 26% of the world’s total projected population of 2.2 billion in 2030.
It is open to all discerning consumers, citizens, and businesses from Australia to Alaska who understand the need to improve the way of consuming, producing and working with one another. The Islamic Economy is a way of living – through products, experiences, services, processes and relationships – that is Halal, ethical, wholesome and family friendly.
Over the past two decades, the Halal industry has been transformed from an exclusive niche market for Muslim consumers into a dynamic global market phenomenon that shows every indication of playing a significant role in global trade in the coming years.
The economies of Islamic countries offer great opportunities for growth due to their enormous size and growing purchasing power. Today, Islamic economy is used in 57 countries and is an ethical, stable and viable financial system that is growing faster than conventional finance. The biggest markets are in Asia, Africa Middle East and the Mediterranean region.
The Muslim population spent around USD 2.2 trillion on the consumption of halal products, such as food and beverages, medicines, and other lifestyle products that support halal lifestyle. This figure is predicted to increase to USD 2.4 trillion by 2024, where the potential sectors that will play a major role are the halal food and beverage industry, cosmetics, medicines, Islamic financial services, modest fashion, halal tourism, and Islamic media.
- Speakers invited
- Plenary Session: The potential of the halal industry
- Panel : Blockchain: the new frontier for the halal industry
General Coordinator, ASCAME
Latifa El Bouabdellaoui
Director General, ICTD
Director, Halal Trade and Marketing Centre (Moderator)
Founder, Muslim Travel Girl
Founder and CEO, Modanisa
Secretary General, Federation of Egyptian Chambers of Commerce
CEO, Instituto Halal
Founding President, ACCESS Blockchain Association
CEO, Holding 19 Invest
Certification Director, Instituto Halal
Director, Escuela Halal – Centro de Formación, Empleo y Negocios (Moderator)
CEO, TE-FOOD International
Even during the economic downturn due to the pandemic, the world’s Halal industry grew and performed well. As a multi-trillion-dollar industry, it can help economic recovery worldwide and facilitatethe rejuvenation of the Mediterranean economy in particular.
The growth of the Halal industry is caused by several factors. The increasing number of the Muslimpopulation is one of the main reasons. In addition, the economic rowth experienced by the Muslimmajority countries is also another one. By 2030, he GDP of the Organization of Islamic Cooperation (OIC) countries is predicted to increase, as a sign of increasing the Muslim population’s welfare. Finally, rising religious awareness in the Muslim population is resulting in higher demand for Halal products. The large penetration of Smartphones and technology in OIC countries has led to a more digitally connected Muslim population. In this context, the proliferation of the ethical-consumerism trend and the Halal lifestyle is one of the big factors playing in the growth of the Halal industry.
The Halal food sector is expected to double. It represents close to 20% of the entire global food industry. With expected increases in both population and income of Halal consumers, the future demand for Halal food is strong and there is ample scope for further investment. The Halal tourism sector is expected to jump from US$102 billion in 2021 up to US$189 billion in 2025. Muslim visitors globally are forecast to grow to 200 million, representing approximately 10% of tourists worldwide. Also important is the Modest fashion sector, as Muslim consumers’ spending on clothing hit the $295 billion mark worldwide in 2021, accounting for 11% of global expenditure, with a growth rate of 3.8%. The Halal cosmetics and pharmaceuticals sector is also registering strong growth rates and is expected to reach a value of close to 93 billion dollars in 2025.
Key Points for discussion:
- Trends and Opportunities for the Halal Industry in the Mediterranean Region
- The Transformative Effects of the COVID-19 on the Halal Tourism Industry
- How is Halal Tourism Reshaping the Global Tourism Industry?
- The Halal Food Industry: Growing Market Force
- What will the New Halal Standards Mean for the Mediterranean Food Industry and Diet?
- How Islamic is the Business of Modest Fashion? Finding Ways to Adapt Islamic Codes
- The Rise of the Halal Cosmetics Sector
Blockchain, with its high transparency and traceability, will be a good solution in providing reliable data and increasing trust in the Halal supply chains; increasing the efficiency of the Halal process from source to point of consumer purchase; improving sustainability of Halal supply chains; improving consumer’s confidence in Halal brands; and gaining global recognition for Halal products. Halal blockchains provide clear advantages for manufacturers, brand owners, retailers, logistics service providers, distributors, and Halal certification bodies for better trust and authenticity.
This Session is set to provide an interactive platform for the Halal industry stakeholders to better understand the impact of Blockchain revolution on their business models and operating processes.
Key Points for discussion:
- Blockchain Revolution and Its Impact on the Halal IndustryPromoting and Assuring Halal Lifestyle using Blockchain
- Halal Certification on Blockchain: Redefining Regulatory Procedures in the Halal Market
- Impact of Technology and Digital Transformation on the Halal Industry
- The Importance of Creating a Regional Supply Chain Platform
Co-organised in partnership with: