Analysts from NH Investment & Securities have said that they expect that as the consumption tendency of Middle Eastern and Southeast Asian consumers expands, there will be more opportunities for halal assured products to be exported. (Image : Kobizmedia / Korea Bizwire)
SEOUL, Feb. 11 (Korea Bizwire) – Analysts from NH Investment & Securities have said that they expect that as the consumption tendency of Middle Eastern and Southeast Asian consumers expands, there will be more opportunities for halal assured products to be exported.
Meaning ‘allowed things’ in Arab, halal refers to all foods and products that Muslims can eat and use.
Officials from NH Investment & Securities commented that the global Muslim population is estimated to be 1.8 billion people, which is more than 20 percent of the world population. They expect the halal market to reach $3.7 trillion by 2019.
While recent efforts were made by many Korean businesses to get their products halal assured, the Korea Tourism Organization announced that it had developed a tourist package targeting Chinese Muslims, with 24 tourists set to visit Korea.
Chinese Muslims are the descendants of the Arabian and Persian people who migrated to China in the 7th century through the silk road.
For five days, the tourists will visit major tourist attractions and experience Korean food made with halal assured ingredients.
The Korea Tourism Organization started market research into Chinese Muslims in June 2015, and has invited Muslim officials to visit the tourist attractions included in the tour beforehand.
Officials from the Korea Tourism Organization comment that they intend to keep on developing tour packages for people from Muslim cultures.
NH Investment & Security officials explain that halal assured products have plenty of potential as they are not only for Muslims. Halal assured products are often perceived as being organic and environment friendly items, making them popular among non-Muslims too.
By Francine Jung (francine.jung@kobizmedia.co.kr)
