Our Blog

We’re barely into 2013 and we already have plenty of new developments and trends to report about Muslim consumers around the world.

But before we jump into our insights, a little reminder about our 2012 Year in Review which gives an overview of the huge strides that businesses and brands have been making in engaging with Muslim consumers and the heightened awareness.

Market opportunity

As we begin the year, it’s worth reminding ourselves about the size of the opportunity when it comes to Muslim consumers. It’s a ‘trillion dollar market‘, explains the Chairman of the World Islamic Economic Forum. And the Pew Forum highlights 5 takeaways about religions, including Islam, in its latest survey on global religion and its demographics.

Asia

The Washington Post writes about “The role of Islam and the possibility of Islam teaming up with China“. One practical example is that China’s Ningxia province is vying for Muslim tourists, especially targeting the Middle East and South East Asia .

The entire Asia region itself is of importance for anyone wishing to reach out to Muslim consumers as “about 65 percent of all Muslims live in Asia. Muslims are about 25 percent of the world’s population”.

The halal industry is establishing strong roots in Malaysia as plans are afoot to develop a dedicated halal industrial park in Iskandar Malaysia focusing on halal food and agro-processing

Halal labelling

Getting your halal labelling right can be crucial as there is growing popularity of halal labelling schemes which underscores the influence of culture and religion on Asian consumer behaviour. Malaysian authorities are introducing bans on halal logos which they feel will confuse Muslim consumers with unclear wording, and there are serious penalties in the shape of fines up to RM500,000.

India

An Ayurvedic hospital in India gains halal certification, which they feel will be a selling point as 75% of India’s medical tourists come from West Asia. It’s part of a wider trend being encouraged by organisations like the Food Safety and Standards Authority of India which says that  halal product manufacturers should get certification from religious agencies

Middle East

The Middle East’s halal industry is also racing ahead. The UAE’s halal food industry is predicted to hit $8.4bn by 2020. According to Bloomberg, Nestle in Saudi Arabia sees sales rise of as much as 20%.

There’s been some focus on the Kingdom’s travel habits. According to a Mastercard survey, 59% of Saudi Arabia’s residents are planning leisure travel. However, only 7% of travellers book online in Saudi Arabia, compared to 30% in developed countries despite the nation’s 15m internet users.

And speaking of internet and social media, here’s an interesting infographic looking at the region’s uptake where 30m people use social media, which translates to 3 in 7 MENA internet users.

In terms of overall connectivity, the UAE is the most connected country in the Arab world, in the global top 25, only 3 places behind the USA, in terms of flow of trade, capital, info, people.

Muslim tourism

Muslim travel and tourism is on the rise across the globe, and the specific segment of religious tourism is growing despite a slow economy.

Egypt’s tourism ministry is seeking to reassure its tourism partners, no surprise at a time when tourism to Muslim countries that are perceived to be “safe” is predicted to rise with Turkey being especially popular.

But there are some surprise destinations too. Japan’s tourism industry is serving a growing number of Muslim visitors with halal-certified offerings as the number of Muslim travellers from Malaysia and Indonesia is growing.  Luxury Travel Vietnam aims to woo Muslim travellers with tailored Muslim holiday experiences

And have you ever fancied being ‘Muslim for a month‘? An entrepreneur is creating faith experiences for Western travellers.

Islamic finance

Finally, a subject that is never out of the news, and this week is no exception, is the topic of Islamic finance. The Economist writes that Malaysia is leading the charge in Islamic finance. But the BBC discusses the challenges facing the future growth of the industry.

And finally, one entrepreneur believes that there is a match between crowdfunding and the Muslim world, as it’s a halal friendly tool that follows Islamic business tradition says entrepreneur.