In the UK, big fast food chains are increasingly preparing food halal, with halal-only rivals like Chicken Cottage and Perfect Fried Chicken and over 100 KFC outlets doing so. Pizza Express is currently using halal approved poultry, as well as one fifth of Nando’s restaurants in the UK.
In the US, there is a well-trodden path in food culture that takes ethnic-specialty foods to the mainstream. Italian cuisine, for instance, and to some extent kosher food, offers a close parallel to halal, with adventurous American millennials now embracing the halal food culture too.
Food prepared for Muslims is also attracting a wider set of palates in China, and major local food players are jumping on the bandwagon to meet the growing domestic appetite for halal products. One of the early starters was Shineway Group — China's largest processed meat company — which invested about US$310 million in halal meat productions base in 2009. Inner Mongolia Yili Industrial Group (SHA: 600887) is also one of the largest halal players in China. Focusing on dairy products including formula milk, pasteurized milk and ice cream, the company reported total revenue of US$8.4 billion in 2014.
In Korea, seafood exporters are making inroads into the halal market as well, but they are facing difficulties in exporting their products to the Middle East and other Islamic countries due to a lack of market information and low recognition of Korean brands in the regions. With huge appetite anticipated for the halal sector global halal food is expected to grow by further.
#halal #foodandbeverage #food #beverage #industryreports #investing #stocks #MergentInc #publiclibraries #academiclibraries #finance #banking #investing #stocks #financialnews #financialtimes #investors #equities @MergentInc @Ford Equity Research @Financial Times @Hoover's @The Wall Street Journal @Dow Jones @inc magazine @Reuters @Investing.com @businessinsider @chartoftheday