Hussein Elasrag

Halal Market Economy: Opportunities and Challenges Hussein Elasrag

The Islamic Halal Industry is at the cusp of major growth and widespread recognition, having gained traction as Muslims assert their religiosity and traditional values. Global Muslim spend across lifestyle sectors was $2 trillion in 2016, while the Islamic Finance sector has $2.2 trillion in total assets. Food and beverage leads Muslim spend by category, at $1.24 trillion, followed by clothing and apparel at $254 billion, media and entertainment at $198 billion, travel at $169 billion, and spending on pharmaceuticals and cosmetics at $83 billion and $57.4 billion respectively. This book provides a deep understanding of challenges and opportunities of the halal market economy .