The Halal industry in the Middle East is estimated to be worth more than Dh73 billion in 2008, according to recent industry reports and the phenomenon is growing worldwide.
Amid the growing demand for halal food products in the region, Dubai has emerged as one of the first to leverage the booming prospects within the market after establishing a highly successful food processing industry, which rakes in more than Dh11bn per year.
The emirate's food processing sector is expected to rise by 11 per cent annually, owing to its growth as the world's third largest re-exporter, with 72 per cent of its exports being shipped to Asia, Africa and Gulf countries. In an attempt to address the growing demand, the organisers of "Halal Expo 2008" have expanded the event's venue to a total of 1,500 square metres in order to accommodate the 7,000 to 8,000 visitors who are expected to attend with aims of further strengthening the presence of halal products within the catering, hospitality, food and beverage, health and pharmaceuticals industries.
Sparking the interest of global players looking to strengthen their operations in this highly profitable market, Orange Fairs & Events will be hosting "Halal Expo 2008", which is set to run from November 24-26 at the Crowne Plaza Hotel in Dubai. The exhibition aims to provide a platform to aid global players who are looking to leverage the high demand for halal food products in the region, which have grown to comprise a significant part of the global halal food market, expected to reach $500bn (Dh1.83 trillion) by 2010.
"The growth of the global halal food industry is well exemplified by the expansion of the Halal food trade in the region, specifically in Dubai, which is being regarded as a global hub for halal products," said Raees Ahmed, director, Orange Fairs & Events.
"Dubai's open trade policies have encouraged the growth of the halal food industry not only in the region, but as well as in western markets where the Muslim population is significant.