With the Muslim Holy month of Ramadan underway, the French food industry is paying special attention to the growing market of products known as “halal,” a designation for food produced according to the rules of Islamic law.
Halal retailers earn about one third of their annual revenue during the month of Ramadan. Overall, the quickly expanding industry pulls in an estimated 5 billion Euros worldwide, according to Solis, an ethnic studies consultancy firm. In France, supermarkets sold roughly 130 million worth of halal products last year. That number is expected to reach 140 million Euros in 2011, according to the consultancy firm Nielsen.
Halal products only began appearing in French supermarkets a few years ago. Specialized brands like Isla Délice and Reghalal were later joined by large French food industry players like Fleury Michon and Panzani. The supermarket chain Casino launched its own range of halal products under the umbrella brand Wassila. And Carrefour, France’s top food retailer sells approximately 50 of its own halal products as well.
Mainstream manufacturers and retailers have been slow to take notice. Studies show that while the opportunity for market share among other segments is dwindling, the American Muslim market remains virtually untapped.
For more Halal food market is estimated at EURO 3.51 billion per year
Mainstream manufacturers and retailers have been slow to take notice. Studies show that while the opportunity for market share among other segments is dwindling, the American Muslim market remains virtually untapped.
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