Asia Pacific region dominates in halal food demand

The global halal food market is anticipated to reach US$2.55 trillion by 2024, driven by the rising demand for the consumption of halal meat. The growing awareness of halal food and its positioning as hygienic and healthy food among both Muslim and non-Muslim* community is expected to drive the demand over the forecast period, Hexa Research has said.

The leading markets are Asia Pacific and Middle East regions, which have a considerable concentration of the around 1.8 billion global Muslim population as of 2015. The Asia Pacific region has the highest market share in terms of revenue (US$594 billion) and is projected to maintain its dominance in the market over the forecast period (2014-2024), the consultancy said. A growing Muslim population, especially in India and Indonesia, and the more awareness among consumers in the region from countries such as Pakistan, India, and Bangladesh, Indonesia, Singapore, and the Philippines are expected to drive the market over the forecast period.

The absence of a uniform halal standard across countries makes it challenging for vendors to get their products halal-certified. Hexa Research says there is a need for oversight on the halal food industry considering the halal meat scandals in Europe and North America regions.

Processed food & beverages dominated the market, contributing US$836.6 billion in 2016. This segment is expected to maintain its leading position over the forecast period as well. The food & beverage segment is followed by the baked products segments and confectionery segments. Over the forecast period, baked goods are expected to grow at a CAGR of 9.6% with an increasing demand for ready-to-eat and packaged products such as cookies, doughnuts, savoury pastries, pretzels, biscuits and cakes. 

Some of the leading players operating in the halal food market are Al Islami Foods, QL Foods, Saffron Road Food, Dagang Halal, Janan Meat, Kawan Foods, Cargill, Prima Agri-Products, Nestle and Cleone Foods. Over the past few years, fast food chains such as KFC and McDonald's have started providing halal certified products to widen their customer base, Hexa Research said.

Hexa Research also put the global halal market at 1.8 billion Muslims as of 2015, and said halal demand has gone beyond consumable products to cosmetics and pharmaceuticals and service sector components such as marketing, logistics, and packaging.

Source: Hexa Research. Global halal food revenue, by end use, 2014-2024, in US$ billion.

Details:

Buy the Hexa Research Halal Food Market Size and Forecast, By Application (Processed Food & Beverages, Bakery Products and Confectionary**), and Trend Analysis, 2014 - 2024 report. 

*This is often repeated but non-Muslims typically express no interest in whether there is halal certification for a product because it is more hygienic or healthier. They will buy a product because it is positioned that way irrespective of whether it is halal. They are interested however in whether there was cruelty to animals involved and may buy a halal product because it has not been tested on animals.

**sic

Starbucks brings Teavana beverages to Asia Pacific

• Iced and hot tea beverages with layered flavours now handcrafted at Starbucks stores
• With the launch across Asia, Teavana beverages and teas are now available in Starbucks locations around the world

Source: Starbucks. Starbucks Teavana comes to Asia Pacific outlets.

Starbucks Coffee Company has introduced Starbucks Teavana as a core offering in more than 6,200 stores across its 16 markets in the China and Asia Pacific region. A new brand for Starbucks in Asia, Starbucks Teavana handcrafted beverages and full leaf tea sachets offer unique iced and hot tea beverages with layered flavours, handcrafted by Starbucks.

“The launch of Starbucks Teavana in China and Asia Pacific brings an entirely new and modern tea experience specifically developed for our customers, who increasingly want new and different tastes and experiences,” said John Culver, Group President, Starbucks Global Retail. "This is a tremendous opportunity to leverage the company’s expertise in creating best-in-class retail experiences, handcrafting customised beverages, and sourcing the finest ingredients, to become a leader in a new category for us. Just as we’ve done for coffee, this is tea reimagined at Starbucks.”

Tea is a US$125 billion global category and is the second most consumed beverage in the world, second only to water. The launch of Starbucks Teavana is the first time Starbucks has launched a brand on this scale since 2008 with the launch of Starbucks VIA Ready Brew.

With Starbucks Teavana, Starbucks also draws on its long heritage of commitment to using only the most premium, high-quality ingredients. Leveraging deep relationships with tea growers, Teavana sources the world’s highest-quality teas and botanicals. Starbucks sourcing and blending experts cup (taste) hundreds of teas daily to select only the finest teas for Starbucks Teavana.

Starbucks Teavana will be available in stores across all its markets in the China and Asia Pacific region: Australia, Brunei, Cambodia, mainland China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and Vietnam.

Availability of Starbucks Teavana offerings will vary by market. The beverages have been specifically developed for Asian customers.

Source: Starbucks.
Matcha & espresso fusion.

Matcha & espresso fusion
Matcha powder layered with milk and Starbucks signature espresso roast creates a layered beverage that combines coffee and tea, to be enjoyed hot or iced.

Starbucks Teavana full leaf tea sachets for hot tea include:

Black teas

English breakfast – A handcrafted blend of Indian Assam, Sri Lankan Ceylon and Chinese black tea.

Chai – A tea blend with ginger and black pepper, cardamom and sweet cinnamon notes.

Green teas

Emperor’s clouds and mist – Exclusively harvested during the month of April and grown on the steep, windy slopes of Huangshan Mountain at 3,500 ft above sea level, this tea has a rich body and is naturally sweet.

Mint citrus – This refreshing blend combines green tea, lemon verbena, tropical lemongrass, and US Pacific Northwest sourced spearmint for a citrus green tea experience. Chun Mee (珍眉, precious eyebrows) is the green tea base for this blend.

Herbal teas

Mint blend – This tea’s spearmint base is rounded out with peppermint notes and undertones of lemon verbena. The mint leaves come from the highly sought after Pacific Northwest mint, known for its high amount of mint oil.

Chamomile – The chamomile used for this soft, soothing floral blend is from Croatia.

Labuan IBFC begins ASEAN roadshows with session on shari'ah-compliant solutions

Labuan International Business and Financial Centre (Labuan IBFC), Asia Pacific’s midshore international business and financial centre, has launched a series of roadshows across ASEAN.

The Labuan IBFC ASEAN Roadshow 2016 will visit key countries in ASEAN and, for the first time will include events as well as closed door briefings in the emerging economies of Cambodia, Laos, Vietnam and Myanmar. The roadshows have kicked off in Jakarta, Indonesia, will continue through till end-July.

“Our approach to the roadshow this year is distinct as we are targeting business owners in the region looking to internationalise or even regionalise their businesses. We believe that with as businesses embrace higher tax transparency requirements, it would be natural for them to consider to establishing substance in a well-regulated jurisdiction facilitate cross border transactions and investments.” said Danial Mah Abdullah, Chief Executive Officer, Labuan IBFC.

He went on to state that the roadshow will also focus in meeting the wealth management needs in the region, adding that as ASEAN has a large Muslim population, the Jakarta chapter of the roadshow focuses on shari'ah-compliant wealth management solutions.

Themed Innovative Solutions towards Islamic Wealth Management the kickoff masterclass was aimed at Indonesian service providers, intermediaries and high net worth individuals who are looking to better understand shari'ah-compliant wealth management offerings, wealth preservation and succession planning solutions.

Mah, who is also the Deputy Director General of Labuan FSA, said, “What makes Labuan IBFC different is that it was established with the main aim of intermediating crossborder trade and investments in the region. The expectations are that intra-Asia and ASEAN trade and investments will grow, and there is a need for a well-regulated jurisdiction in the region able to facilitate these trades and investments. ”

The masterclass included a presentation on the Labuan International Waqf Foundation, a shari'ah-compliant wealth management tool, which incorporates the element of waqf* (وقف‎) in its structure.

Labuan IBFC is the only jurisdiction in the region offering foundation structures including Islamic foundations with waqf elements built in.

The event also included a panel session titled Opportunity and Challenges: Islamic Wealth Management in Asia with Dr Aida Othman, Director at ZICO Law Shariah Advisory Services, Maikel Sajangbati, CEO and Founder of MaeSa Consulting Indonesia as well as Aderi Adnan, Business Development Director of Labuan IBFC.

The panel focused on the new Islamic wealth management environment in light of more stringent global regulatory requirements, evolving Islamic wealth management strategies amidst changing family legacy mindsets, experiences and cultural differences in Asia.

Interested?

View event details


*Waqf refers to a donation made for a religious, educational or charitable cause.

posted from Bloggeroid

Vietnamese interest in deep ocean minerals, says PDOB

Pacific Deep Ocean Biotech Company (PDOB)  is determined to make its Enriched Deep Ocean Minerals (DOM) a household name in Asian nutrition. The company has already launched DOM in Taiwan, mainland China, Japan, and Australia, and introduced DOM to Vietnam at the Food ingredients Vietnam trade show. The rollout will continue with Hong Kong, Thailand, Indonesia and India in the next six months.

Said Harry Chai, Global Business Development Manager, PDOB: "Vietnamese companies embraced our standardised, enriched Deep Ocean Mineral ingredients with unprecedented enthusiasm. The rapidly expanding Vietnamese nutrition and supplement industry saw immediate application for our DOM products in the sports performance and cholesterol control segments. One beverage manufacturer saw the value of DOM's 'natural' claim and wanted to use it in their natural sports and energy drink formulations."

PDOB supplies standardised and customised deep ocean mineral compounds from the deep ocean waters located at the east coast of Taiwan for the beverage and nutritional supplement industry. The mineral solutions are certified halal. The main applications for beverages are associated with fatigue relief and accelerated recovery after physical challenges.