Muslim consumers: The Facts
Muslim consumers are a growing, influential and extremely loyal group, making them a desirable market for mainstream brands. But reaching them requires more than launching Sharia-compliant products. Making inroads to this sector takes deep understanding of the values of this community and building the brand from there.
- To read the cover story relating to this, Young, connected and Muslim click here
- For more expert opinions on marketing to Muslims from leading Muslim business people click here
- To read HSBC Amanah, head of global marketing, Mohammed Ismaeel’s viewpoint click here
- To explore Chicken Cottage, a Muslim brand’s case study
Muslim consumers: the facts
- Most Muslims feel ignored by mainstream brands, according to research carried out by agency JWT.
- Halal is worth $634bn (£432bn) which is 16% of the global food market, according to Nestlé.
- There are 1.57 billion Muslims living in the world today, according to the US’ Pew Business Center.
- There are about 1.8 million Muslims living in the UK.
- Islamic products and services that conform to Islamic Law are worth $2 trillion (£1.3 trillion) annually.
- 74% of Muslims aged between 16 and 24 define themselves by faith and not race, according to Home Office research carried out in 2004.
- Nestlé has a SFr 5.3bn (£3.2bn) turnover in Halal products globally.
- In Europe, Nestlé’s sales of Halal food reached SFr 55m (£33.3m) in 2008.
- l Muslims are predicated to account for 30% of the world’s population by 2025.