Currently worth $45.3bn and set to reach $58.3bn in 2020, halal products, including meat slaughtered according to Shari'a principles, are driven by ethnic and religious diversity. Ewa Hudson, Head of Health and Wellness at Euromonitor International stated: “Demand for halal meat, an important feature of the Muslim community, is growing rapidly. The Muslim community’s share in the global population has been increasing steadily and is projected to reach about 26 percent by 2030.”
The top three fastest-growing vegan markets between 2015 and 2020 are China at 17.2 percent, United Arab Emirates at 10.6 percent, and Australia at 9.6 percent. Hudson commented: “Vegan product labeling is one of the key categories to watch in the future, as an increasing number of companies are expanding their consumer appeal by staying away from animal ingredients whenever possible. The rising demand and trend for vegetarian and vegan proteins indicates where the market is moving right now.”
The global market for ethically labeled packaged foods, soft drinks and hot drinks (excluding private label) accounted for $793.8bin in 2015 and is set to reach $872.7bn by 2020.
According to Euromonitor’s research:
• Behind USA and Japan, China has established itself as the third-ranking market for Ethical Labels
• USA is the largest Kosher market, 18 times the size of Israel
• UK emerges as run-away leader in animal welfare labels with $30.1bn in 2015.
Source: Euromonitor International
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