KUALA LUMPUR, April 3 (Bernama) — The 11th World Halal Conference (WHC) 2019 commenced today, facilitating discussions on the ever-growing need for the industry to reflect on its existing strengths; and to build new capabilities to create new engines of growth within the industry. WHC 2019 will highlight the various growth opportunities in the halal market and the need to continuously reinvent; re-energise; and re-anchor the industry.
The State of the Global Islamic Economy Report 2018/19 estimates that Muslims spent US$2.1 trillion across the food, beverage and lifestyle sectors in 2017, and forecasts spending to reach US$3 trillion by 2023. By category, food and beverage leads Muslim spend at US$1.3 trillion, followed by fashion at US$270 billion, media and recreation at US$209 billion, travel at US$177 billion, pharmaceuticals at US$87 billion and cosmetics at US$61 billion.
