Mastercard and CrescentRating reports suggest 245 M Muslim travellers by 2030

Mastercard, in collaboration with CrescentRating, has released two new reports: Halal Travel Trends 2026 and Muslim Women in Travel 2026, examining how Muslim travel is evolving amid rising demand for more inclusive, trusted and purpose-led experiences.

Halal Travel Trends 2026 revealed that international Muslim visitor arrivals were estimated at 186 million in 2025 and projected to reach 245 million by 2030. Meanwhile, Muslim Women in Travel 2026 found that Muslim women travellers accounted for 90 million international arrivals in 2025, representing 48% of global Muslim visitor arrivals, up from 63 million and 45% in 2019.

Additionally, baseline services for Muslim-friendly tourism – halal food and prayer spaces – have stepped up in recent years, identifying experiences such as safety, digital confidence, and faith-aligned assurance as part of the new norm, the organisations said.

At the centre of both reports is CrescentRating’s RIDA framework (responsible, immersive, digital and assured) which provides a practical roadmap for destinations, tourism boards and businesses to better serve Muslim travellers.

Asia remains central to the global Muslim travel landscape. Halal Travel Trends 2026 found that the region drew nearly 120 million Muslim visitors in 2024, representing 65% of the world’s 176 million global Muslim visitors. The report attributes Asia’s strength to connectivity, cultural depth, established halal infrastructure, and proximity between major Muslim source and destination markets.

Amid global volatility, travel demand remains steady, with more travellers favouring closer destinations. Intra-ASEAN travel is picking up, offering opportunities for regional players to better meet evolving preferences and the region is particularly well positioned to capture this demand. Malaysia, Indonesia, Singapore and Brunei feature among the preferred destinations for Muslim women travellers, while Southeast Asia accounts for 5.8 million Muslim women travellers as a source region.

Beyond Muslim-majority destinations, the reports also point to growing opportunities for destinations that can make Muslim-friendly readiness more visible and reliable — helping destinations convert interest into bookings while strengthening traveller confidence.

Muslim Women in Travel 2026 spotlights one of the most influential segments within the broader Muslim travel market. Muslim women are increasingly shaping where, how and why trips are planned — whether for family holidays, solo travel, religious journeys, business trips or women-led group experiences.

The report finds that safety and trust are key priorities. General safety and comfort are the most important destination factors for 60% of Muslim women travellers, followed by Muslim-friendliness at 30%. Travellers want to feel confident accessing halal food, finding prayer spaces, dressing modestly, moving through destinations safely and practicing their faith without discrimination or judgement.

Digital discovery is also playing a defining role. The report finds that 68% of respondents said social media influenced their travel decisions, with Instagram as the most used platform, followed by YouTube and TikTok. AI tools are also emerging as a new layer of travel assurance, helping travellers research destinations, compare options, plan itineraries, identify halal dining, locate prayer spaces and assess safety considerations.

“Muslim travel is entering a more sophisticated phase, where confidence, inclusion and purpose are becoming as important as access and convenience,” said Aisha Islam, Senior VP, Customer Solutions Center, Southeast Asia at Mastercard.

“Through the RIDA framework, destinations and businesses have a practical way to think about the full traveller journey from trusted digital information and secure payments to meaningful experiences that respect faith, culture, safety and personal values.”

Both reports point to a clear industry opportunity: Destinations that make Muslim-friendly services more visible, verifiable and consistent will be better positioned to convert interest into visits and build long-term loyalty.

The RIDA framework provides a practical way for destinations to respond:

Responsible: Support community-led tourism, environmental stewardship and regenerative travel practices.

Immersive: Create deeper cultural, heritage and local experiences that go beyond sightseeing.

Digital: Use technology, AI and secure digital payments to reduce friction and increase confidence.

Assured: Build trust through verified halal services, safety standards, inclusive infrastructure and consistent quality across touchpoints.

“For destinations, the opportunity is to move from availability to assurance,” said Raudha Zaini, Director of Operations, CrescentRating.

“Muslim travellers are looking for experiences that are meaningful, inclusive and easy to trust. The destinations that clearly communicate their readiness and deliver consistently across the journey will be best positioned to earn long-term loyalty.”

Mastercard and CrescentRating said the reports highlight the need for a more integrated approach to tourism development. By embedding responsible practices, authentic experiences, digital confidence and trusted faith-aligned services into destination planning, the travel industry can unlock stronger participation, deeper loyalty and more resilient growth.

Upbeat outlook for UAE catering services

The UAE catering services market is set for sustained expansion from 2025 to 2030 with a CAGR of about 6% over the forecast period.

According to a report from MarkNtel Advisors, the momentum is underpinned by the UAE's growing tourism base, more international events and exhibitions, a rebound in air travel, and the presence of globally-recognised catering service providers. 

At the same time, changing consumer preferences—toward healthier, fresher, and premium dining options—are reshaping menu innovation and pushing operators to differentiate through compliance, customer experience, and sustainable practices, the consultancy said. 

MarkNtel Advisors said the UAE catering industry is witnessing a new phase of growth, driven by shifting consumer preferences, technological advancements, and rising demand across the events, tourism, and corporate sectors. 

Customers are increasingly seeking hygienic, health-conscious, and customised meal options, while caterers are integrating innovations like digital ordering, cloud kitchens, and automation to enhance efficiency. 

With the country strengthening its position as a global hub for weddings, exhibitions, and meetings, incentives, conferences, and exhibitions (MICE), opportunities for catering providers are expanding rapidly. At the same time, sustainability initiatives such as ecofriendly packaging and dietary flexibility—including vegan, organic, gluten-free, and halal-certified menus—are reshaping offerings, making adaptability and innovation essential for market competitiveness. 

Drivers of market growth include:  

Tourism and events

The UAE's global positioning as a tourism hub is a central growth pillar. Large-scale international events—such as Expo, Intersec, and GITEX—alongside year-round trade fairs, conventions, and exhibitions generate steady demand for banquet and corporate catering. With Dubai and Abu Dhabi cementing their reputations as regional MICE capitals, event-driven catering volumes are expected to remain robust.  

Non-contractual catering is primarily linked to events, weddings, and short-term engagements. While cyclical and seasonal, it remains lucrative during peak tourism and event cycles.   

Aviation and in-flight catering

The UAE is home to leading global carriers such as Emirates and Etihad Airways. The surge in air passenger traffic, coupled with fleet expansion initiatives, translates directly into higher demand for in-flight catering. 

Emirates Flight Catering (EKFC), for instance, operates one of the world's largest culinary facilities, producing more than 250,000 meals daily across 160,000 sq m of space. Partnerships between airlines and catering providers are set to deepen, with opportunities for service differentiation around menu innovation and sustainability.  

Corporate and institutional demand

The rapid pace of corporate expansion in the UAE—driven by free zones, low corporate tax regimes, and foreign direct investment—has fuelled demand for contract catering in office complexes, schools, and hospitals. Contract-based catering services are particularly favoured for their long-term cost efficiency, menu flexibility, and reliability.  

The corporate segment is largest in this market, fuelled by the increasing establishment of MNCs and regional HQs. Caterers targeting corporates are increasingly offering customised, health-focused menus to match employee wellness initiatives. 

Healthcare growth

The healthcare sector is becoming a powerful demand centre for catering services. Hospitals are increasingly outsourcing patient meals, clinician catering, and canteen management to specialised providers. Post-COVID, the emphasis on nutrition, hygiene, and timely delivery has become even more prominent, positioning hospital catering as both a growth driver and a compliance-critical domain. 

Hospitals are emphasising specialised dietary plans aligned with patient recovery and clinical nutrition requirements, MarkNtel Advisors said.

Other significant sectors include:

Education

Schools and universities are investing in nutritious meal programs, particularly in Abu Dhabi and Dubai.
Healthcare: 

Defense and offshore

Demand for robust, HACCP-compliant food solutions in defense bases, mining, and offshore oil rigs.
Event Management & Leisure: Weddings, conferences, sports events, and cultural festivals drive this segment. 

Mining and engineering, procurement and construction (EPC) projects

Contracted services for remote sites, particularly for oil and gas exploration as well as infrastructure projects. 

With UAE's active oil and gas as well as EPC projects, remote and industrial catering demand is expected to rise further. 

Top players mentioned in the report include EKFC, ADNH Catering, Royal Catering, National Catering Company (NCC), Abela & Co., WLL, KEITA, Al Jazeera International Catering, Kelvin Catering, Baguette Catering Services, and Emirates Catering Services.

This diverse roster of players compete across corporate, healthcare, aviation, hospitality, and remote site catering. Competition is increasingly driven by menu innovation, compliance excellence, sustainability commitments, and ability to scale across multiple sites. 

On the geographical front, Dubai is the lead region due to its strong tourism ecosystem, the presence of major catering companies like EKFC, and an active events calendar. Urban lifestyles and casual dining trends also fuel catering demand here.

Abu Dhabi and Al Ain host significant demand from the healthcare, defence, and corporate sectors, complemented by megaproject activity.

Sharjah and the Northern Emirates may have a smaller share but are also growing, supported by regional universities, mid-size corporates, and community events. 

Opportunities and trends in the UAE catering services industry include: 

Growing air traffic

With iconic tourist attractions such as Burj Khalifa, Sheikh Zayed Mosque, and Palm Jumeirah, alongside rising business travel, UAE's air traffic is expanding rapidly. This directly boosts the demand for in-flight catering, positioning it as one of the most dynamic sub-segments of the market.  

Health and wellness revolution

Caterers are rapidly adapting to the shift toward healthier meals. Trends include: 

• Organic and locally sourced ingredients
• Vegan and plant-based options
• Reduced reliance on frozen/prepared foods
• Customised dietary menus for corporate and hospital clients

Automation and technology

The adoption of automated kitchens and digital tools for menu planning, inventory, and HACCP compliance logging is transforming operations. Internet of Things (IoT)-enabled fleet management and kitchen robotics are gradually being tested to reduce turnaround time and enhance food safety.  

Sustainability 

UAE catering operators are integrating sustainable practices, including waste reduction programmes, ecofriendly packaging, and local sourcing partnerships (e.g., vertical farms like Bustanica). These initiatives align with both corporate environmental, sustainability and governance (ESG) mandates and government sustainability agendas.  

On the down side, input cost volatility, which can include imported food items and energy prices, are impacting pricing models. There are also labour management challenges due to the reliance on an expatriate workforce, as well as seasonal volatility linked to event-driven catering cycles. Caterers also need to navigate complex compliance requirements with multiple regulatory bodies and legislation: the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), Dubai Municipality, and the Federal Food Safety Law among them. 

Details

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Significant growth projected for the MENA halal food industry

BCC Research's Halal Food Regional Market Analysis: Middle East and North Africa (MENA) is projected to grow from US$253.9 B in 2025 to US$380 B by the end of 2030, with a CAGR of 7.1% from 2025-2030. Countries covered include Bahrain, Egypt, Iran, KSA, Kuwait, Oman, Qatar, and the UAE.

KSA has the largest market share, which is expected to be worth US$72.7 B by 2030, at a CAGR of 8% over the forecast period.

Distribution channels include hypermarkets and supermarkets, departmental stores, as well as online, while product types include meat and meat products, dairy products, fruits and vegetables, and grain products. The meat and meat product segment will continue to dominate through the end of the forecast period.

According to BCC Research, investment and funding in the MENA halal food sector are accelerating, driven by strong government support and interest from international companies. Governments are streamlining approval processes and strengthening regulations to foster a more business-friendly environment. Rising consumer demand for food safety, ethical consumption, and Islamic lifestyle products, amplified by social media, is fuelling market growth. Additionally, strategic collaborations among governments, regulators, and research institutions are advancing innovation, ensuring global compliance, and promoting sustainable development within the halal food ecosystem.

Growth drivers include:

A growing population: The MENA region has a rapidly expanding Muslim population, which naturally sustains and increases demand for halal food. As religious dietary laws are central to daily life, this demographic growth ensures a steady and loyal consumer base for halal-certified products.

E-commerce: The rise of digital platforms and online food delivery services has made halal food more accessible than ever. Consumers can now easily find and purchase halal products online, boosting market reach and convenience, especially among the tech-savvy younger generation.

Increased investment: Governments and private investors are pouring resources into the halal food sector, supporting infrastructure, certification, and innovation. This financial backing is helping local producers scale up and attract global interest, positioning MENA as a key player in the global halal market.

Trends identified by BCC Research include:

Digitally-influenced halal choices: The halal food market in MENA is experiencing rapid growth, largely fuelled by the rising impact of Islamic lifestyle content on social media. Millennials and Gen Z are especially responsive to online trends and influencers, often basing their food choices on digital recommendations.

Ethical and clean eating trends: A growing regional focus on ethical consumption and clean eating is further accelerating the expansion of the halal food market, aligning with global health-conscious and sustainability-driven consumer behaviours.

BCC Research also highlighted Halal Products Development Company (HDPC), a KSA-based startup and a subsidiary of the Public Investment Fund (PIF). The company is dedicated to developing a robust halal ecosystem within the kingdom and promoting the localisation of halal production.

HPDC supports international players in expanding their footprint in the Saudi market and invests in the halal industry to enhance the country's production capacity. Its overarching goal is to position KSA as a global hub for the halal sector. Additionally, HPDC offers advisory services to industry stakeholders seeking to navigate the halal market landscape.

Much activity expected in the Indonesian cold chain market through to 2026

The Indonesian cold chain market is expected to be valued at about IDR6,800 B by 2026, says research firm Ken Research.

According to the company, the cold chain market is highly fragmented and currently includes 100+ cold transportation and storage players. A significant increase in the number of companies is expected year-on-year due to consumer demand and technology advances, leading to significant industry fragmentation, Ken Research said.

Bright outlook for plant-based food

The global plant-based food market is set to be worth US$34 B by 2030, according to Growth Market Reports.

Global Plant-based Food Market by Types (Seafood Substitute, Egg Substitute, Meat Substitute, Dairy Substitute, and Others), Sources (Pea, Wheat, Nuts, Soybean, and Others), Distribution Channels (Online Retail, Specialty Stores, Convenience Stores, Modern Groceries, and Others), and Regions: Size, Share, Trends, and Opportunity Analysis, 2021-2030 states that the market was valued at US$10 B in 2021 and is expected to grow at a CAGR of 12% till 2030.

Research highlights:

- The modern groceries segment is expected to hold a major market share in the coming years, owing to the appealing discounts, shelf space, and bundling tactics.

- Athlete-led and celebrity awareness campaigns have encouraged the consumption of vegetarian products in order to have a healthy diet.

- High costs associated with the products and raw materials is anticipated to hamper the market growth during the forecast period.

- Collaborations between key players in the plant-based food market and restaurants, large chains, as well as industry titans including Beyond Meat, Oatly, and Impossible Foods will drive growth.

The dairy substitute segment is anticipated to expand at a sustainable CAGR during the forecast period, due to the nutritional advantages of plant-based dairy alternatives. Dairy substitutes are prioritised by many people due to lactose intolerance and concerns over animal cruelty in conventional dairy farming practices.

The soy segment is expected to grow at a significant pace during the forecast period, due to the wide applications in various food and beverage sectors including bakery, meat, and dairy alternatives. Soy is less expensive as compared to other sources and is increasingly accepted by consumers.

Brands profiled in the report include:

- Plamil Foods 

- Sahmyook Foods

- Sanitarium Health and Wellbeing Company

- The Hain Celestial Group 

- Taifun –Tofu 

- Unilever 

- VBIte Food

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Growth expected in halal cosmetics and personal care market

Technavio says the halal cosmetics and personal care market is poised to grow by US$28.34 billion from 2020-2024, progressing at a CAGR of over 7% during the forecast period. Year-over-year growth for 2020 is estimated at 6.7%.

Source: Technavio. The Halal Cosmetics and Personal Care Market 2020-2024 report forecasts 6.7% growth globally for 2020.

According to its halal cosmetics and personal care market report:

- Demand for halal personal care and grooming products for men are major trends driving the growth of the market.

- The Asia Pacific region will contribute 44% of the market share.

- The company advises market vendors to focus more on the fast-growing segments, while maintaining their positions in the slow-growing segments.

Vendors mentioned in the Halal Cosmetics and Personal Care Market 2020-2024 report include:

• Amara Halal Cosmetics
• Clara International Beauty Group
• Ivy Beauty
• PROLAB COSMETICS
• Martina Berto
• Paragon Technology and Innovation 
• Saaf Skincare 
• Talent Cosmetics Company
• Total Beauty Network
• Wipro Enterprises

However, Technavio said the market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Technavio is a global technology research and advisory company focusing on emerging market trends and actionable insights to help businesses identify market opportunities and develop effective strategies to optimise their market positions. Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries.

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Eighth update to Islamic financial services industry to be launched in August

The Islamic Financial Services Board (IFSB) will be launching the 8th edition of its flagship Islamic Financial Services Industry (IFSI) Stability Report 2020 during its Members and Industry Engagement Session (MIES), to be held online on 6 August 2020 at 3:30 pm Malaysia time.

HE Dr Fahad Abdullah Aldossari, Deputy Governor for Research and International Affairs, the Saudi Arabian Monetary Authority (SAMA), will be the Guest of Honour. He will officiate the launch of the report online.

The IFSB’s IFSI Stability Report series, which was first launched in 2013, has become an important benchmark publication providing an assessment of the growth, development, and stability of the IFSI. The objectives behind the report are anchored on the IFSB’s mandate to promote the development of a prudent and resilient IFSI.

In this MIES session, the IFSB will present key structural and prudential developments, assessment of vulnerability, resilience, and future outlook, as well as expected implications of COVID-19 on the global IFSI. This will be followed by a panel discussion to allow greater interaction and exchange of views among the industry’s stakeholders, regulators and market players.

The discussion will be moderated by the Secretary-General of the IFSB, Dr Bello Lawal Danbatta and representatives from the regulatory and supervisory authorities as well as market players. A question and answer session will be held after the discussion, led by Dr Danbatta and both Assistant Secretary-Generals, Walid Alzahrani and Dr Rifki Ismal.

Details:

Regulatory and supervisory authorities and industry players from among IFSB members and non-members are invited to witness the launch of the IFSB’s IFSI Stability Report 2020 and also participate in the MIES. Register.

Ramadhan marketing during the COVID-19 era

Think with Google says that there is currently no playbook for marketing during a crisis, but data may show a way. "Now more than ever, we rely on digital platforms to seek information, entertainment or buy what we need. Understanding this behavior is essential for marketers to develop truly agile campaigns for Ramadan," say Dina Barakat, Sara Hamdan and Muriel Makarim in an April blog post.

Barakat, Hamdan and Makarim - who are a Product Marketing Manager with Google, Editor of Think with Google MENA and Large Advertiser and Agency Marketing Manager of Google Indonesia respectively - say that users are spending more time online consuming content, learning new skills and investing in new hobbies. They are also shopping for essentials from home. Google data shows a 1.8X growth in delivery searches worldwide.

In connecting to consumers thoughtfully, the authors suggest three tips:

- Capture the feeling of being together without being physically together

Take into account how social distancing changes Ramadhan traditions while delivering the same message of care and love:

Indonesian beauty brand Wardah has created a virtual platform where users can try on different shades of lip colour, the blog post notes. Other suggestions include broadcasting content that can be watched together; enabling people to add filters to shared pictures and videos, and using Google's Qalam app which sends customised Ramadhan greeting cards.

- Embrace changes in Ramadhan consumer trends

People are unlikely to shop at brick-and-mortar stores, and will request contactless delivery solutions, the blog authors said.

Given that e-commerce will likely be popular, Google recommends that e-commerce sites enhance the user experience with options such as gift-wrapping, customised cards or discounted add-ons.

Cooking will be another bright spot, with Google observing that search queries for recipes have surpassed 2019 peaks in Indonesia. Innovation ideas include recipe recommendations and online cookalongs.

Other possibilities for a better experience could include no-penalty date changes and refunds for event tickets, as airlines in Singapore have offered, and real-time updates for available inventory, and providing accurate delivery times.

Ensuring that a website loads easily is another Google tip. Google has a tool called Test My Site which measures a mobile site's loading speed.

- Contingency plans

Incremental changes to existing assets, refreshing assets without filming through animation or repurposing existing creatives, as well as keeping up to date with Google Trends will help brands stay responsive, Google said.

Moka sees F&B down, but delivery services grow during Ramadhan

Source: Moka.

Moka, a digital point-of-sale (POS) startup in Indonesia, has compared Ramadhan 2020 sales data against Ramadhan 2019.

The company found that daily business revenues in the food and beverage (F&B) sector were down more than 40% during the COVID-19 pandemic in Indonesia, with one out of every three F&B businesses in Indonesia suffering significant losses. However, revenue for delivery services were up by as much as 30%.

During Ramadhan in 2019, there had been up to a 67% rise in the number of food and beverage (F&B) outlets operating between 2 and 4 am. During these hours, consumers would tend to choose practical food for their suhoor (سحور, pre-dawn meal) and purchase up to five products during each transaction for group servings.

In the fashion retail industry, there had been up to a 50% revenue increase for Ramadhan 2019. The most popular items sold during Ramadhan would be tunics, hijabs and Islamic gowns (modesty clothing), which would see sales gradually decline after Ramadhan. Beauty services would instead enjoy higher revenues, by up to 54%, one month after Ramadhan. This shows that the public tends to seek beauty treatments once Ramadan concludes.

Although consumption patterns in Indonesia have changed due to the COVID-19 pandemic, the trends seen during Ramadhan 2019 cannot be entirely disregarded, said Moka. Moka Data Analyst Hutami Nadya said that one strategy that merits focus is online shopping.

To maximise shopping that makes use of delivery services, whether in the F&B as well as the service and retail industries, businesses can innovate by issuing special delivery menus that can be processed and cooked by the consumers themselves for suhoor and iftar (إفطار, breaking of the fast) with the family at home. This also applies in the retail and service industry, where businesses can introduce special packages for sale online.

"Businesses may take note of trends in society. For instance, for the purpose of cooking at home, F&B merchants are shifting to provide ready-to-cook food ingredients while providing the option of delivery services to support social distancing. Additionally, Ramadhan is the right moment to share with those who need more. We can start by adding the option of a menu to be donated to those in need. To record positive cashflow, merchants may also apply the pay-it-forward scheme for customers," she said.

Pay-it-forward is a prepayment scheme that allows customers to purchase product or service packages from a business that are delivered in the future. Businesses would usually offer price reductions in the form of coupons for customers. This scheme is expected to assist businesses to book positive cashflow for such purposes as rent, employee salaries, business capital installments, insurance, supplies of raw materials, repairs and other expenses.

Moka supports 40,000 merchants across 200 cities in Indonesia with an end-to-end solution that consists of POS, payments, loyalty, accounting, ingredient procurement, and business loans. The company's products include Moka Pay, Moka Fresh, Moka Capital, and Moka Connect to complement its POS services.

Halal F&B CAGR projected to be over 6% up to 2028

The global market for halal food & beverages is projected to register a CAGR of 6.05% from 2020 to 2028. The surging Muslim population and the increasing awareness among the non-Muslim population regarding halal foods, are the dominant factors, said Inkwood Research.

According to Inkwood Research, there has been an increasing preference for organic and natural food and beverage products across the globe. This trend is an opportunity for halal food products at a time when the Muslim population is increasing globally.

Within the halal food industry, manufacturers are focusing on innovating and diversifying, as well as marketing the health benefits of halal-certified foods.

The increasing standardisation of halal certification is also set to drive increased opportunities.

However, inappropriate hygienic practices, poorly-maintained production and processing facilities, and expiring halal certification weakens the trust of consumers.

As of 2019, the Asia Pacific region dominated the market in terms of market share.

Crescent Foods, Nestle, QL Foods, Al Islami Foods., Cargill Inc., are among the prominent companies in the market.

Buy the report by Inkwood Research (December 2019)

UAE outbound tourism expected to be worth US$24 billion by 2025

The United Arab Emirates (UAE) Outbound Tourism Market, Tourist Numbers, Countries, and Purpose of Visit report has been added to ResearchAndMarkets.com's offering.

Outbound tourism includes the travelling activities of residents from one country to another. For the UAE, the market is estimated to be worth US$24 billion by the year 2025 due to increasing globalisation, says Renub Research.

The UAE has emerged as an important source of outbound tourism market over the years and is expected to grow due to factors such as a rise in disposable income, passion to explore the world and increasingly-efficient flight connectivity to different parts of the world. In addition, UAE citizens also choose to travel to learn about different cultures. These heritage travellers usually visit historic and culturally-significant sites to meet with the locals and learn about their traditions and ways of life.

In terms of purpose of visit, holidaymakers are most common. Other segments studied include business (MICE), visits to friends and relatives (VFR) as well as "others" - education and medical treatment for example.

Emiratis generally travel to Gulf countries nearby, like KSA and Qatar. In the Asia-Pacific, Emiratis like to travel to Australia, India, Malaysia, and Thailand. According to a UAE government survey held in 2015, there were 3.5 million trips from UAE, 40% of which ended up in KSA.

APME countries covered in the report include Australia, India, Malaysia, Singapore and Turkey.

Details:

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Global halal food market to surpass US$2 billion by 2027

The global halal food market was valued at US$715 billion in 2018, and is projected to see a CAGR of 12.7% from 2019 to 2027 in terms of revenue.


Growth drivers include an increasing Muslim population worldwide, coupled with development in the retail sector supply chain. According to World Health Partners, Muslims have the highest fertility rate compared to other religious groups.

However, lack of a standardised body for certification of halal products is a major factor hampering growth.

Increasing consumer spending on food & beverage is expected to provide ample of opportunities for global halal food market. For instance, according to the State of the Global Islamic Economy, the global Muslim consumer invested around US$1,128 billion on food and beverage in 2015.

Based on product type, meat products accounted for the largest share of 44.2% by revenue in the global halal food market for 2018. The grain products segment is expected to record fastest growth over the forecast period. Traditionally, grains are considered as halal when they are not made up of any haram or unlawful ingredients. However, expansion and diversification of the halal food market along with global nature of grain trading have led to increase inspection of all raw materials and processed grain products. Therefore, grain product manufacturers such as Kellogg Company are focusing on receiving halal certification in order to increase consumer base, globally. This in turn is expected to drive the grain products demand in the near future.

Geographically, the Asia Pacific region held a dominant position in the global halal food market in 2018. Moreover, the region is expected to the record fastest growth during 2019 to 2027. Factors such as presence of over 60% of the global Muslim population in the region together with rising expenditure of people on non-vegetarian food products is likely to provide an impetus to halal food demand from the region in the near future.


Market growth is supported by the many halal certification authorities in Asia Pacific that are gaining consumer trust. For instance, Department of Islamic Development of Malaysia has 56 halal certification bodies in 33 economies such as China, Taiwan, and various others. This helps halal-certified products to develop extensive distribution and business across Asia Pacific.

Key players mentioned in the report include Cargill, Al Islami Foods, QL Resources, Haoyue Group, Kawan Food, BRF, and Saffron Road Food.

Buy the Halal Food Market Report, by Product Type (Dairy Products, Meat Products, Grain Products, Vegan Products, and Others), by Distribution Channel (Hypermarkets, Supermarkets, Online Stores, Convenience Stores, Specialty Stores, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 report (June 2019)

Gelatin finds new applications

The Gelatin: Insights Into & Future of the Worldwide Market 2016-2024 report has been added to ResearchAndMarkets.com's offering.

Gelatin continues to see demand from the food sector. Gelatin comes mainly from bovine hides and pig skin, but  there is increasing interest in non-mammalian sources of gelatin such as fish. Halal gelatin is also emerging as a niche market segment in the food and pharma sectors. In pharmaceuticals, low awareness and a lack of stringent religious restrictions is holding back progress for halal gelatin.


There are however many gelatin alternatives, such as carrageenan, rice starch and xanthan gum. These are growing in popularity. Potato-based starch solutions in particular are set to replace gelatin in sugar confectionery.

Europe dominates global consumption, while the Asia-Pacific region spearheads current and future market growth.

Hindrances to growth include cultural and religious specifications, ethical concerns, and a shift to vegetarianism. 

Among the findings:

- Developing countries in Asia offer potential growth opportunities

 - A bright outlook is projected for the gelatin market in India, with the country being a leading exporter

- Edible gelatin is driving growth in China, especially demand for functional foods

- In Australia, osteoarthritis is driving demand for gelatin supplements

- The pharmaceutical sector is a leading market for gelatin in India

Companies mentioned in the report include Capsugel (US), Darling Ingredients (US), Ewald Gelatine (Germany), Gelita (Germany), Geltech (South Korea), Nitta Gelatin (Japan), Sterling Biotech (India), and Suheung (South Korea).

Details:

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A related report, World - Gelatin and Its Derivatives - Market Analysis, Forecast, Size, Trends and Insights, was published in September 2019.

IFSB launches Islamic Financial Services Industry Stability Report 2019

The Islamic Financial Services Board (IFSB) has launched the Islamic Financial Services Industry (IFSI) Stability Report 2019 at the IFN Forum in Singapore. The launch was officiated by the Secretary-General of the IFSB, Dr Bello Lawal Danbatta.

This is the seventh IFSB IFSI Stability Report, which has been published annually since 2013. Over the years, the report has become a benchmark publication for the IFSB and numerous other stakeholders, tracking the growth, development and stability assessment of the Islamic financial services industry.

IFSB Secretary-General Dr Bello Lawal Danbatta mentioned that the IFSB launched the soft copy of the IFSI Stability Report 2019 to the public on 31 July 2019. He added that an official launch of the hard copy of the report at the IFN Forum and in a key jurisdiction like Singapore with great potentials of becoming a significant Islamic finance market, offer a great opportunity to share the key report takeaways as well as the outlook for the IFSI.

The report indicates that in 2018, the IFSI recorded a 6.9% year-on-year growth rate on the back of a rebound in oil and commodity prices, improvement in investment climate in most jurisdictions with record year-on-year growth of 26.9% in the Islamic capital market sector. The global assets of the IFSI are estimated to be worth about US$2.19 trillion as at 2Q18, reflecting a softened momentum in growth rate recorded due to trade and economic sanctions, currency depreciations, and increasing inflation in some jurisdictions with a significant presence of Islamic banking.

As stated in the report, the positive growth trajectory of the IFSI is expected to continue into the foreseeable future. However, emphasis should be given to emerging operational issues posed by technology, changing market structures and increasing activities of the non-bank financial institutions.

The report rides on data from the IFSB’s Prudential and Structural Islamic Financial Indicators (PSIFIs) database for its Islamic banking sector analysis.

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The IFSI Stability Report 2019 is available for download from the IFSB website.

Mastercard, CrescentRating chart halal travel trends for 2019

Source: Mastercard, CrescentRating.

The Mastercard-CrescentRating Halal Travel Frontier 2019 (HTF2019) Report has identified 17 trends that will shape the next phase of development in the fast growing halal travel sector.

The report analyses changes in the halal travel space, and provides insights on how these trends will impact and influence the Muslim traveller. It predicts how technology, the environment and social activism will bring about major changes in all aspects of the halal travel industry and make it easier for Muslim travellers to explore the world.

The 17 top trends include:

· The integration of augmented reality to give Muslim travellers crucial cultural insights, including eateries that are halal-certified.

· The proliferation of chatbots which are custom-designed to satisfy the cultural and religious needs of a Muslim traveller.

· A streamlined visa approval process for Muslims travelling to Mecca to perform umrah.

· Non-traditional destinations such as Japan and Taiwan will increasingly attract Muslim travellers.

Changes in the umrah visa process and the rise of new interactive technology will mean that traditional Hajj and umrah service providers will face disruption in their business models. Young Millennial Muslim travellers will now also be able to book their own do-it-yourself (DIY) umrah. This means that existing players will need to re-invent themselves and re-imagine the services they offer to stay relevant.

Augmented reality (AR), virtual reality (VR) and artificial intelligence (AI), coupled with the increased penetration of smartphones, will also drive new trends that will redefine the Muslim travel experience – from planning to purchasing, and sharing travel adventures.

Driven by the demand for more authentic, affordable and accessible experiences, more Millennials and Gen Z travellers will book “instant noodle trips” - affordable, impromptu short trips.

In addition, heightened awareness on social causes and the rising authority of female influencers when planning trips, are also expected to result in changes in the way that Muslims travel.

The report also foresees non-OIC (Organisation of Islamic Cooperation) destinations, such as Japan and Taiwan, will dramatically change the Muslim-friendly narrative. Competition and dynamism are expected lead to innovations and developments that will benefit both destinations as well as Muslim travellers.

Finally, the report foresees the consolidation of Muslim travel service providers that will potentially result in the emergence of stronger Muslim lifestyle and travel brands.

“Being at the forefront of the Muslim travel market during the last 10 years, CrescentRating is in a unique position with access to extensive data and insights to have a holistic view of the market. We have also been able to augment these insights by the emerging Muslim traveller behaviour patterns we see on our HalalTrip website and mobile app, as well as the consumer purchasing behaviour trends observed by Mastercard.

"This has enabled us to identify key trends so that all stakeholders can prepare and benefit from the changes about to happen. We hope this motivates all players to embrace and further benefit from the growth.” said Fazal Bahardeen, CEO of CrescentRating and HalalTrip.

“Mastercard has been working with CrescentRating to create invaluable research insights to enhance the payments landscape, encourage cross-border commerce, and set new benchmarks for the expansion of the halal travel and tourism industry. The Halal Travel Frontier 2019 Report gives businesses, governments and other stakeholders in the travel sector an overview of the trends sweeping the fast-growing halal travel industry and how they can maximise opportunities in this fast growing travel sector,” said Safdar Khan, Division President, Indonesia, Malaysia and Brunei, Mastercard.

The global Muslim traveller expenditure is projected to reach US$220 billion in 2020 according to the Mastercard-CrescentRating Global Muslim Travel Index (GMTI) 2018. It is expected to grow a further US$80 billion to hit US$300 billion by 2026. In 2017, there were an estimated 131 million Muslim visitor arrivals globally - up from 121 million in 2016 - and this is forecast to grow to 156 million visitors by 2020, representing 10% of the global travel segment.

The top 17 trends to watch in 2019

1	Heightened awareness on social causes while exploring destinations	10	Urge for “instant noodle trips”
2	AI will further empower Muslim travellers	11	Hotel sector will stop hitting halal snooze
3	Halal assurance will become smarter with AR	12	Rising female voice in trip planning
4	AR will reconnect Muslim travellers with lost Islamic heritage	13	Destinations to encounter multiple Muslim traveller identities with common shared values
5	Consolidation of Muslim travel space will result in emergence of stronger Muslim lifestyle / travel brands	14	Decline in Muslim visitors to destinations perceived as unwelcoming
6	Disruption of the traditional umrah market with DIY umrahs	15	Human resource development to take centre stage
7	Deeper training immersion with VR umrahs	16	Rise in demand for halal advisory
8	Convergence of travel behaviour around mobile	17	Preventing halal big data chaos
9	Growing non-OIC wave in the Muslim travel ocean

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Read the Halal Travel Frontier 2019 report

Read the Suroor Asia blog posts about the digital element in halal travel and on the Japan Muslim Travel Index 2017

Hashtag: #HTF2019 

Global halal market expected to boom

The global halal market was valued at US$5.73 trillion in 2016 and is expected to grow due to a rising Muslim population, rising spend and increasing availability of halal products and services.

The Islamic finance sector has witnessed tremendous growth over the past few years with the emergence of crowd funding platforms including Human Crescent. Lack of awareness has resulted in an enormous opportunity for products and services offered by this segment. The segment is likely to grow at a CAGR of 10.5% from 2017 to 2024, says Hexa Research.

Speedy growth of economies in the Middle East and Southeast Asia are expected to augment the growth of the market owing to the presence of a large Muslim population. These economies are likely to emerge as popular destinations for food and fashion. The Middle East halal market is expected to witness a double-digit growth generating revenues of US$6.53 trillion by 2024.

The demand for qualified halal products among non-Muslim customers has been on the upsurge as more consumers are looking for high superiority, safe and righteous products*. Non-Muslim consumers in Asia Pacific are likely to play a vital role in driving the regional market making it the second largest marketplace after the Middle East, contributing to 30.9% of the global revenues by 2024.

The Islamic economy is being driven primarily by the increasing youth population with high disposable incomes. These factors are likely to drive segments of the halal market such as fashion, food, finance, travel, as well as media and recreation.

Several food companies including KFC and Nestle are already offering halal products to their Muslim consumers. The emergence of Islamic finance institutions offering finance and banking assets are expected to provide further impetus to businesses that are focusing on venturing into the halal industry

Key players analysed include:

• Diana Kotb

• INAYAH

• Al-Rajhi Bank

• Al-Salam Bank

• MMA Bio Lab

• Ivy Beauty Corporation

• Nema Food Company

• Midamar

• Chemical Company of Malaysia (CCM Pharmaceuticals)

• Pharmaniaga

Source: Hexa Research website. Global halal market revenue, 2014 - 2024 (US$ trillion)

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Buy the Halal Market Size and Forecast, By Product (Food & Beverages, Travel, Media & Recreation, Finance, Fashion, Pharmaceutical, Cosmetics), And Trend Analysis, 2014 To 2024 report

APAC to drive global halal cosmetics and personal care market through to 2022

Source: Technavio, via Businesswire. Infographic on the global halal cosmetics and personal care market 2018-2022.

Technavio forecasts that the global halal cosmetics and personal care market to grow at a CAGR of 13.55% from 2018 to 2022. To calculate market size, the company considered the revenue generated from the sales of halal cosmetics and personal care through online and offline channels.

A key factor driving growth is the rising Muslim population worldwide. Technavio said an increase in demand from the growing Muslim population and rising awareness of halal cosmetics and personal care products are pushing demand up.  Improved standardisation and certifications are another market driver.

As the Asia Pacific region (APAC) is home to more than 55% of the Muslim population, the region is experiencing a relatively higher demand for halal cosmetics and personal care products. EMEA led the market in 2017 with a global halal cosmetics and personal care market share of close to 52%. During the forecast period, the APAC region is expected to register the highest incremental growth, while the other two regions will witness a decline in their market shares.

Brands listed in the report include: 

• Amara Halal Cosmetics
• Ivy Beauty Corporation
• Martha Tilaar Group
• PT Paragon Technology and Innovation, the parent company for Wardah
• Total Beauty Network, parent company of Inika
• WiproEL

Vendors in the market are trying to capitalise on the demand for halal personal care and grooming products for men. Although many vendors manufacture halal cosmetics and personal care products for women, not many cater to men. Segment categories include skincare products, haircare products, and fragrances. Celebrity endorsements are also encouraging men to use personal care and grooming products.

“Presently, Millennial Muslim consumers are becoming conscious of their looks and appearance, propelling an interest in personal grooming among young men. This expands the consumer base of the market. Therefore, the interest in personal grooming is expected to spike the volume sales of halal cosmetics and personal care products during the forecast period,” says a senior analyst at Technavio.

As halal cosmetics and personal care become more popular, the counterfeiters will also have a field day, Technavio warns.

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Takaful market projected to exceed US$40 billion by 2023

The IMARC Group Takaful Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023 report in ResearchAndMarkets.com's offering valued the global takaful market at US$19 billion in 2017. 

Catalysed by factors such as an ethical investment policy, strong growth prospects and price competitiveness, takaful represents a strong business proposition and has a significant share of non-Muslim customers as well. The market is projected to exceed US$40 billion by 2023, at a CAGR of 13% from 2017 to 2023. 

According to ResearchandMarkets.com, takaful refers to a shari'ah-compliant insurance system through which members mutually contribute a sum of money, so as to support each other in case of a loss, damage or theft. The objective of takaful is to cooperate, live harmoniously amongst the community and protect each other against uncertain mishaps, the company said. Takaful policyholders' regular monetary contributions are supervised and managed by a takaful management firm. The surplus amount is invested which helps to earn policyholders a higher profit.

The report says that takaful is rapidly gaining momentum, particularly in the Asia Pacific and the GCC region, owing to a large Muslim population. Muslims currently account for a fifth of the total global population and these levels are expected to further increase in the future.

Another major driver of the market is that, in contrast to Western countries, the majority of the world's Muslim population is young with 60% of this entire population being under 25 years of age. Catalysed by rising levels of affluence, this large young Muslim population has the potential to represent a customer base for a fairly long duration if it is captured early.

The penetration of conventional insurance is also relatively low in affluent Muslim regions like the GCC. As a result, takaful is perceived as a key instrument to raise insurance awareness and has huge opportunities in these countries.

Some of the leading players operating in the global takaful market include:

• Islamic Insurance Company 
• JamaPunji 
• AMAN 
• Salama 
• Standard Chartered 
• Takaful Brunei Darussalam Sdn Bhd 
• Allianz 
• Prudential BSN Takaful Berhad 
• Zurich Malaysia 
• Takaful Malaysia 
• Qatar Islamic Insurance Company 

Details:

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Singapore's Deputy PM talks about Muslims in multireligious Singapore, self-radicalisation

Singapore Deputy PM (DPM) Teo Chee Hean, who is also the Coordinating Minister for National Security, spoke about a meeting with the Grand Imam of Al-Azhar, His Eminence Dr Ahmed Al Tayyeb, at the annual Religious Rehabilitation Group Iftar on 6 June 2018.

"I was impressed by his open approach to inter-religious interactions. He said that Muslims should live and thrive in a multireligious environment. He drew from experiences in Egypt and also lessons from history, that the interaction between Muslims and other communities could take place in a practical way," said DPM Teo.

Such practices included shaking hands and greeting members of other religions on religious holidays. "For example, he always made it a point to greet Christians on Christian festivals. I found his explanations most enlightening and beneficial for a multireligious society like Singapore, where all communities can have meals together, visit one another, and share our joys and sorrows together. We should reject views that limit our interactions and divide us as communities," he said.

He noted that non-Muslim youth ambassadors are involved in MUIS’s Touch of Ramadhan campaign. The campaign focuses on spreading messages of strengthening the family, caring for society and showing concern for the environment. "This shows that people of all faiths can work together to promote common, positive messages that benefit everyone," he said.

The threat of terrorism and radicalisation remains however, with radicalised individuals still present in Singapore. "Indeed, we must remain vigilant at all times, and enhance our community resilience," he said.

"Let us continue the important work that the Religious Rehabilitation Group and various community groups are doing to help save individuals from doing harm to their families and their loved ones," he said.

Growing demand for food certification

The Food Certification Market by Type (ISO 22000, BRC, SQF, IFS, Halal, Kosher, Free-From Certification), Application (Meat, Poultry, and Seafood, Dairy, Infant Food, Beverages, Bakery & Confectionery), Risk Category and Region - Global Forecast to 2023 report from Markets and Markets has been added to ResearchAndMarkets.com's offering.

The food certification market is estimated to be valued at US$8.87 billion in 2018, and is projected to reach US$11.45 billion by 2023, at a CAGR of 5.2% from 2018. Growing international trade, coupled with increasing stringency in food safety regulations, has been fuelling the demand for food certifications.

Increased consumer awareness about certified food products, a rising number of processed meat product recalls, and the prevalence of foodborne illness are some of the additional driving factors during the forecast period.

The "free-from" certifications segment is projected to grow at the highest CAGR among all food certification types from 2018 to 2023. It includes gluten-free, allergen-free, vegan, USDA Organic, and GMO-free certifications. Government bodies of various countries are actively promoting gluten-free certification schemes, systems, and programmes, Markets and Markets notes.

The high-risk foods segment, by risk category, is projected to grow at the highest CAGR during the review period.

Companies mentioned in the report include:

ALS
Asurequality
Bureau Veritas
Dekra
DNV
Eurofins
Intertek
Kiwa Sverige
Lloyd's Register
SGS
Tv Sd
UL

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Buy the Food Certification Market by Type (ISO 22000, BRC, SQF, IFS, Halal, Kosher, Free-From Certification), Application (Meat, Poultry, and Seafood, Dairy, Infant Food, Beverages, Bakery & Confectionery), Risk Category and Region - Global Forecast to 2023 report (May 2018)