Opportunities are in halal and organic

THE global markets for organic, halal, and kosher products are currently expanding, a trend that Philippines exporters can pursue with more determination, according to Department of Trade and Industry – Export Management Bureau (DTI-EMB). EMB assistant director Agnes R. Legaspi made this recommendation to attendees of the BSP (Bangko Sentral ng Pilipinas) Exporter’s Forum, reported the Business Mirror. But exports have to comply with all the necessary local and international standards and certifications of course.

Products labeled as organic are sold at premium prices. Ms Legaspi said the best bests are organic dairy and eggs.

Organic food and beverage are estimated to reach 320.5 billion by 2025, as said by Grand View Research. Of this the poultry and meat products segment will grow the fastest at a CAGR of 13%.

Halal foods which now constitute 62% of the global halal market, are now being consumed not only by Muslim but by non-Muslim consumers looking for healthy food. In Singapore and the Philippines alone, halal packaged food and drink products stand at USD1.4 billion and USD7.5 billion respectively, as stated in a Euromonitor International report. By 2035, the global halal food and beverage market is forecast to reach USD739.59 billion by 2035, said Grand View Research.

Demand for kosher food and drink – or products that conform to Jewish dietary laws – remains high in the US which has a large Jewish population as well as in Israel and the EU. According to a report by the Persistence Market Research, the kosher market was worth USD 24,148 million in 2017, and grow at a CAGR of 11.6% to reach USD 60,000 million in 2025. The Middle East will lead the growth in this market during 2017-2025.

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