From the Desk of Muhammad Munir Chaudry, President, IFANCA
Muhammad Munir Chaudry
“At a time when many other large consumer segments are reaching a saturation point, Muslims are a new outlet from which to build a box for future growth,” reads management consultancy firm AT Kearney’s report titled “Addressing the Muslim Market: Can You Afford Not To?”
IFANCA halal-certified Cabot Creamery attests to this growing recognition of the Muslim consumers’ presence here. “Since receiving halal certification, Cabot has seen a double-digit increase in the sales of our core branded cheeses,” says Jed Davis, director of marketing at Cabot Creamery Cooperative. “Naturally, we can’t attribute all of that to halal certification, but we do know that consumers are paying attention to the halal logo. In fact, we’ve received numerous thank-you’s from consumers who are thrilled to know that the World’s Best Cheddar is halal certified.”
Halal food is not the only category getting attention from producers; halal personal care products and cosmetics are getting noticed too. According to an article in CosmeticsDesign-Europe.com, “since Muslims are the fastest growing consumer segment in the world, any company that is not considering how to serve them is missing a significant opportunity to affect both its top- and bottom-line growth.” The AT Kearney report, quoted by CosmeticsDesign-Europe.com, suggests that with Muslims making up 20% of the global population, the cosmetics and personal-care industry would profit greatly by tapping into marketing halal alternatives since very few companies are doing so at this time. The market for halal personal care products in the Middle East alone is currently estimated to be valued at $560m according to the article. Cognizant of this growing sector of the economy, USA based Toms of Maine, a Colgate Palmolive Company and personal care product leader has had IFANCA certify its products as halal for the UK, US and Canada. IFANCA also certifies halal personal care products for USANA and Sunrider, both multi-level marketing companies.
In the 1970’s when frozen yogurt first made its debut, the concept folded within months. Today, the product is back with a bang and is even the main “soft-serve” option at many restaurants. The sale of all yogurt in 2007 was over $700 million and expected to grow, according to food marketing expert and trend analyst Phil Lempert of Supermarketguru.com, whose sources include SPINSscan, a division of the ACNielsen market research firm. Similarly, the time is right for halal-certification of yogurt and other fermented milk products. The idea that Muslim consumers form a lucrative market worth serving with halal products is gaining momentum. The market for halal-certified products is huge and growing. It includes the 1.4 billion Muslims worldwide and many millions of health-conscious non-Muslims who chose halal products because they’re inherently synonymous with quality and purity.