At The Show: Halal Food market in Middle East set to reach US$ 45 billion this year

Market Potential Drives Strong Participation from Halal Companies at Gulfood 2010;

Show Opens on Sunday with more than 3,500 Companies from Over 80 Countries

Dubai, United Arab Emirates

With the halal food market in the Middle East forecast to reach US$ 45 billion by the end of 2010 according to the International Halal Integrity Alliance (IHIA), the Arab world is considered a premier market for halal products.

Interestingly, this market relies overwhelmingly on imports of halal commodities, with the UAE alone importing US$ 150 million worth of halal food products per annum. The re-export trade from the country to markets around the region is currently valued at between US$ 30 million - $50 million.

Demand is strong and growing, as is evident at this year’s Gulfood exhibition, the Middle East’s largest trade-only event for the food, beverage and hospitality industry, which opens on Sunday, where a record number of companies will be exhibiting halal products.  The show takes place from 21 – 24 February 2010 at the Dubai International Convention and Exhibition Centre (DICEC). 

“The pivotal role that Gulfood plays in both showcasing products and driving market activity is well demonstrated in the halal food and beverage category. Not only do a wide range of international suppliers travel to Dubai to attend Gulfood, we have also attracted a growing number of local and regional companies who specialise in the halal market,” said Trixee Loh, Senior Vice President, Dubai World Trade Centre (DWTC), the organiser of Gulfood.

”With the global halal food industry estimated to be worth more than US$ 650 billion this year according to Business Monitor International, this is a major business and the opportunities are substantial.”

Companies from almost every corner of the world will be represented in Dubai during the four day event, showcasing a wide range of halal products. Industry players include Al Accad Department Stores, Al Islami Foods, Brazil Food, Herfy Food Service Co., Khazan Meat Factor, Matrade, Midamar Corporation, Nestle, Sadi International, The Halal Catering Argentina and Volys Star.

“We have chosen Gulfood as the platform from which to launch our new range as we are confident that in doing so, we will reach a customer base ranging from Morocco to Singapore,” said Nils El Accad, CEO of Al Accad Department stores who are due to unveil their latest range of halal HIPP organic baby food at this year’s show. “Gulfood is the only significant trade show for the food and beverage industry targeting African and Eastern Asian markets. It is also unique in that it is the only show where distributors and retailers interact in the same setting.”

The tracking of halal global megatrends is also one of the key topics at this year’s Gulfood conference, with strong interest being shown for the session which will be presented by Al Islami Foods CEO, Alex Andarakis on Tuesday, 23rd February.
“Halal, has become a global mega trend and is gaining serious momentum with investors, suppliers, producers, and retailers,” said Andarakis. “Countries that will succeed in entering the international halal market will be those who pay attention to the details of quality, standards and marketing, aligned with the most active players such as Malaysia, Thailand, Brunei, Singapore, Turkey and now UAE.”
“Gulfood provides a tremendous opportunity to align the FMCG sector with key global trends such as Halal,” he added.
Gulfood is strictly a trade-only event and is open to business and trade visitors from within the industry only.  Industry business professionals on the day of the show will be able to buy either a Day Pass for AED 60, or a Four Day Pass for AED 120. Gulfood is open from 11am – 7pm Sunday 21 February 2010 to Tuesday 23 February 2010 and from 11am – 5pm on Wednesday 24 February 2010.

For more information, and to register for free entry, please visit www.gulfood.com/business