Future trends in global trade
ne of the important requirements in Islamic nations is a Halal certificate " that as an exporter we have to provide along with shipment .he word “Halal” is an Arabic or Quranic word related to the Islamic lifestyle where the literal meaning of the word is permissible or lawful. In another word, it means the implication of the term is applicable to every conduct of human life whether it is a social, personal, economic, cultural, or political matter. Also, if we go deeper into this subject, the concept of halal adopts the concept of “Tayyab” because, in several places of the Quran, human beings are instructed to consume what is halal and Tayyab. The meaning of Tayyab that I interpret is good quality, healthy & sustainable.
Exporters can have huge opportunities if they genuinely research and understand the market trends by creating “niche " products to serve Islamic countries. Besides GCC nations, there is a huge market in countries like Bangladesh, Morroco , Malaysia, Brueni, Indonesia, Iran, Iraq, Jordan, Pakistan, Egypt, Algeria, Libya & Sudan . Here are 3 core sectors that exporters & traders can focus on and tap hidden potential :
Halal cosmetics:This is a booming market in the global halal industry. The product base of this industry is expanded to personal care products, color cosmetics (face, eyes, lips, nails), and fragrance products.
Halal food: The hot growth sectors of this sector are halal ingredients, and meat-based meals and snacks. There is also a huge opportunity in halal gelatine. Exporters can tap the opportunities through their innovative halal products and explore the gap in demand and supply chain. The future trend is for halal organic and healthy foods, baby foods, and beverages.
Halal Pharmaceuticals: The demand for halal pharmaceuticals among Muslim consumers is increasing due to the Toyyiban concept that assures efficacy, quality, safety, halal, and hygiene factors. A number of pharmaceutical companies in Malaysia are leading the industry, as Malaysia is one of the first countries that has created benchmark halal standards for the pharmaceutical industry
Export business is all about niches. We can tap the "halal" category of products and tap the unexplored opportunities. #opportunity #growth #business #safety #supplychain #manufacturing #opportunities #pakistan #bangladesh #like #indonesia #indonesia #pharmaceuticals #pharmaceutical #egypt #sustainable #cosmetics #quran #quality #pharmaceuticalindustry #future #export #food #halal #halalfood #gcc #globalization #globalbusiness #glocal #dubaibusiness #research #pharma