1.8 billion Muslims around the world spent 5.1% more on halal food and beverages in 2018 to reach $1.37 trillion versus the previous year, according to a study released on Monday (November 11).
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, said the State of the Global Islamic Economy 2019/20 report. The lifestyle sectors include apparel, travel, and media and recreation.
The Muslim segment makes up around 17% of global food and beverage spend, said the report produced by growth strategy research and advisory firm DinarStandard, the parent company of Salaam Gateway.
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