With over 20,000 products to choose from, the Halal Market London is set to attract shoppers looking for halal food products. The Muslim Food Festival will feature a variety of international vendors and producers, including Halal meat, fish, and dairy. In addition, over a thousand chefs will showcase their skills and prepare a wide variety of Halal cuisine.
Growing Muslim population in the UK
The growing Muslim population in the UK is resulting in a significant rise in the number of halal products and retailers. According to the Pew Foundation, the UK’s Muslim population will increase by 4% annually by 2030 and will number 5.6 million people. According to Eblex, the British beef and sheep industry, 90% of Muslims consume halal meat. As a result, Muslims consume far more fresh meat and accounts for up to 15% of total UK meat sales.
Although the UK has a growing Muslim population, the halal market is still relatively small in size. It is estimated that Muslim spend on clothing will increase to $361 billion by 2023. As the UK’s Muslim population rises, the market for halal foods and services will grow by 5.1% per year, according to Halal Market London. The company expects to raise around 150 million pounds in capital markets, government grants, and anchor partners before opening the first outlet in the UK.
Opportunities for businesses in the halal sector in the UK
There are numerous opportunities for businesses in the UK’s halal food industry. With the number of Muslims in the UK increasing every year, the demand for halal meat is increasing as well. According to Pew Research, the UK’s Muslim population will grow from around 4.1 million in 2016 to 13 million by 2050. In addition, the UK Halal food market is currently worth $4.5 billion and is expected to grow by 5% a year until 2020.
Leading supermarkets are also entering the Halal market in response to this growing demand. Halal products are now being sold in more than 3,000 independent food service outlets in the UK, and major national grocery chains are providing an ever-increasing selection of products.