Global Muslim expenditure on food is estimated at $1.37 trillion in 2018, growing at 5.1% from 2017.
This expenditure is forecast to grow by 6.3% per year to reach $2.0 trillion by 2024, according to the State of the Global Islamic Economy 2019/20 report.
This expenditure on F&B accounted for around 63.6% of the $2.2 trillion that Muslims spent overall on halal and Islamic lifestyle sectors in 2018, according to the report produced by DinarStandard.
The Muslim segment makes up around 17% of global food and beverage spend, said the growth strategy research and advisory firm, the parent company of Salaam Gateway.
The State of the Global lslamic Economy report has been published annually since 2013.
For the full report including all data and analyses of the halal food segment as well as each of the other Islamic economy sectors, download the report from here.
© SalaamGateway.com 2019 All Rights Reserved