Pakistan is now ranked at number 19 in global halal meat exports. A study by Karachi Chamber of Commerce and Industry (KCCI) has shown that Halal meat industry is growing 27% annually. The industry has expanded from a lowly $14 million in 2013 to $244 million in 2015.
The Global Halal Food Market
Halal food (non-meat included) is a worldwide growing market. It is one of the few market segments that are still in the fast-growth phase. In a rough estimate in 2015, the Halal food market is worth roughly $700 billion. The major demand for Halal food has been coming from Central Asia including majority Arab population countries as well as Indonesia, Pakistan, and India.
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The Global Halal Meat Providers
The top ten global halal meat providers have maintained their monopoly over the market for almost a decade. It may come as a surprise but none of the top halal meat exporters are Muslim majority population countries. The top ten Halal meat exporting countries * in descending order are
The Halal Meat Market Opportunity
Analysts and traders in Pakistan have been calling for a comprehensive strategy to cater for boom in Halal Market opportunity. Pakistan is currently in the list of top 5 countries for livestock production, however it is unable to break into top ten for meat exporters. The Muslim population is globally on an increase and also is showing increase in Europe and North America. The increase in Europe and North America means having access to highly profitable markets.
Also Read: Pakistan’s Exports to European Union Take a Hike by 37%
Pakistan to follow Malaysia and Thailand?
Halal meat industry is projected to contribute 5% GDP for Malaysia in 2020. Thailand contributes to almost 6% of the entire Halal meat market globally. Both of these countries are ranked below in the list of livestock producing countries than Pakistan.
In 2015, Pakistan exported 708,968 tons of meat, and later rose to the status of the 19th largest exporter of Halal meat in the world. Considering its livestock production in view, A few timely measures can go a long way in helping Pakistan reach top ten of the Halal Meat exporter lists.