Halal: the 3.2 trillion dollar market that Italian companies are badly ignore

The Made in Italy is extraordinarily popular in the world, it is no mystery.

According to BrandZ Top 30 Most Valuable Italian Brands 2019, the value of Italian brands in the world has grown by 14% compared to 2018, reaching 96.9 billion dollars.

And it is thanks to exports (and therefore the success of Made in Italy) that our country has managed to contain the decline recorded by the other components of the national GDP.

In fact, exports represented the only positive contribution to the economic growth of the Peninsula from 2010 to 2018.

But although exports prove to be the economic lung of our country and our companies, many local companies are literally giving up without knowing it to one of the most profitable markets that exists: the Halal market.

According to the States of the Global Islamic Economy Report, Muslims around the world spent $ 2.2 trillion in 2018 on Halal products, and will spend $ 3.2 trillion by 2024.

To understand why this market has achieved such results – and why a trillion dollar increase in spending is expected within 6 years, which will still rise significantly in the near future – just think of one thing: the data reported by the statistical center. Pew Research, show that Muslims in the world are currently 1.8 billion, and by 2050 they will become 2.7 billion.

Taking this fact into consideration, and taking into account that the products that are Halal certified (which in Arabic means “lawful”) are the only ones that Muslims can enjoy, it becomes easy to imagine the exponential growth that the consumption of these products will have in the immediate future.

From this it is easy to understand how strategically important it is for any company wishing to significantly increase its turnover by exporting abroad, to certify its products to enter this market.

So why are thousands of Italian companies foreclosing their products to a market that has 1.8 billion potential customers, giving up an important slice of their earnings?

The reasons are mainly 3:

Many companies are unaware of the Halal Certification.

Many companies in the beautiful country not only do not know the extraordinary economic potential of Halal products, but they do not even know of the existence of this market. This is as much a problem for companies that do not know about certification, as well as an important competitive advantage for companies that enter the Halal market before their competitors.

The pioneers of Made in Italy in these countries, in fact, obtain an important slice of the market that will hardly be taken from them by the competitors who will arrive in the coming years.

They rely on the wrong certification body, this leads them to have significant problems in customs.

Not all Halal certifications are the same, in our article “How to tell if a Halal certification body is the right one for your company?” we explain the benefits you will get by choosing World Halal Authority (WHA) as your partner in dealing with foreign markets.

Most of the Halal certification bodies present in Italy do not have accreditations, which means that in most foreign countries, that certification has no value. Consequently, when the companies certified by these entities export abroad, they find themselves in trouble at customs, facing blockages of the goods or significant delays.

Once the Italian companies have obtained certification and entered these markets, not knowing how to communicate with the new catchment area, they are overshadowed by other brands and in a few years leave the market; training courses offered by the World Halal Authority (WHA) help companies penetrate these new markets.

The more superficial certification bodies do not follow and do not train the company during certification. This means that the company, despite having a certificate in its hands, does not know the market in which it wishes to operate, being eclipsed by more prepared competitors and better viewed by consumers.

A Halal certification becomes a reason for purchasing for consumers, only if the certification body that puts it is considered authoritative in the reference markets.

And it is precisely to avoid this kind of misadventures that those who decide to successfully penetrate this market choose World Halal Authority (WHA): the most accredited and respected Halal certification body in the world.

Our quality, technical and ethical standards are a reference point in the Halal market: this is the reason why WHA certified product has ever had a customs block or delay.

Furthermore, the level of our consultancy and the attention we put into following our partner companies, have allowed the companies that have chosen us to know in depth the market where they were going to operate, helping them to achieve their turnover targets.

Book now a totally free consultation with one of our specialists, who will help you understand how your company can also access this rich market with an important competitive advantage.


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