Doing Business in the Halal Market: Products, Trends and Growth Opportunities

300_halalMarket-v1.0The Muslim religion is the second largest and fastest growing religion in the world, with Muslim consumers expected to reach 26 percent of the global population by 2030. Muslim consumers seek products that cater to their religious needs and comply with Islamic requirements: from halal production process to halal labelling and packaging. The lack of permissible offerings has led to a surge in demand, as Muslims grow hungry for trendy products and services adapted to their lifestyle.

Doing Business in the Halal Market: Products, Trends and Growth Opportunities examines the specific challenges and opportunities present for a variety of products, from beauty and personal care, apparel, food and beverage, to tourism applicable for key halal markets across the globe.

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This white paper assesses the potential for businesses considering tapping into halal and Muslim consumer markets; helping them to understand halal certification and the demand for standardisation across the food industry, and identify halal market opportunities in Southeast Asia, China, Western Europe and Australasia. Each analysis will address how businesses can compete in the halal market, highlighting its development as well as potential for the future.

 

August 30, 2015

Deception of Expanding Urban Populations

Ugne SaltenyteAnalyst Insight by Ugne Saltenyte - City Analyst

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Over the next 15 years, the world’s urban population growth will be fed by the two principal regions – Middle East and Africa (MEA) and Asia Pacific – which together will account for 84% (or 986 million people) of the global urban population increase. While the process of urbanisation is good news for many consumer goods and services companies, as it is traditionally related to the spread of modern lifestyles in emerging countries, over the next 15 years living standards in most emerging metropolises will remain well below the current averages of the developed world.

Forecast Urban Population Growth by Region, 2014-2030

Urban-pop-growth

Source: Euromonitor International

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Korean Foodservice and Culture Enjoying Popularity in China

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Korean culture and foodservice is gaining massive familiarity in China, boosted by the success of television shows such as “My Love from the Stars” and “The Heirs”. These shows, which are especially popular with young Chinese women, are sparking a new interest in Korean culture and creating a surge in Korean foodservice chains in China. In fact, some popular Korean television shows frequently film at coffee shops that have Chinese locations, fuelling demand. In the future, Korean foodservice and Korean-inspired menus will continue to perform well, but Chinese consumers are constantly seeking new experiences from different countries, so opportunities are wide open in the country.

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August 29, 2015

Despite Lipitor Setback, Future for Switches Remains Bright

Chris SchmidtAnalyst Insight by Chris Schmidt - Senior Consumer Health Analyst

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While quarterly earnings reports are not often cause for excitement in the consumer health industry, Pfizer’s recent second-quarter conference held the promise of a potentially industry-shifting announcement. Though the buzzing rumours of a new mega-merger had largely died off, it was widely believed the company would announce the results of its Phase 3 trial for over-the-counter (OTC) Lipitor (atorvastatin, 10 mg). A positive outcome could help usher one of the most successful prescription drugs in history into the OTC market. Unfortunately for Pfizer, the study did not demonstrate patient compliance, and the company terminated it after feedback from the US Food and Drug Administration (FDA). Though that potential blockbuster OTC drug may never come to fruition, consumer demands for innovative, efficacious products, advancements in mass health literacy and the desire of insurers and regulators to shift the burden of cost continue to pave the way for future prescription (Rx)-to-OTC switches. Though the sun may have set on OTC Lipitor, the future remains bright for switches.

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Emerging Markets Tech: 5 Digital Trends to Watch

Pavel MarceuxAnalyst Insight by Pavel Marceux - Technology, Communications and Media Specialist

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The unique challenges, both technical and cultural, of emerging markets translate into specific digital trends that are becoming clear across some of the world’s largest economies. There is growing demand for FinTech products among large underbanked populations, digital healthcare is a more pressing concern for the emerging world, music streaming looks to be making gradual inroads, lightweight apps designed specifically for emerging markets are being rolled out, and the sharing economy is expanding its reach beyond the developed markets. How quickly these segments develop in specific regions largely depends on growth in Internet usage and smartphone uptake.

Internet Users in Emerging Markets: 2009-2030

Internet-users

Source: Euromonitor International from International Telecommunications Union/OECD/national statistics

Note: Figures for 2015-2030 are forecast

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August 28, 2015

What Makes a Good Mobile Strategy? Event Recap from CONNECT Mobile Innovation Summit 2015

Amanda BoulierAnalyst Insight by Amanda Boulier - Research Analyst

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Innovation and disruption are hot topics, and perhaps nowhere more so than in mobile technology. Globally, mobile revenues are estimated to account for just 1% of total retailer revenues, but figures like this miss most of the picture. Mobile has significant spillover effect on sales through other channels and mobile is undoubtedly more efficient with regard to marketing than comparable email or paper mailing programmes. The importance of this trend is only going to grow in the years to come, so it is critical that retailers and restaurants have a plan for the mobile shift.

Developing an effective mobile strategy was the theme of CONNECT Mobile Innovation Summit 2015, held in Chicago on 18-19 August 2015. At this event, speakers, panelists and attendees from across the retail, restaurant and payment landscape exchanged insights and ideas about how to get, keep and grow consumers’ attention in the mobile space.

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Hotels Collaborating with Peer-to-Peer Lodging Platforms

Hotels are responding to the influx of peer-to-peer lodging platforms such as AirBNB in several ways. They are redesigning their style and booking process to cater to younger consumers as well as lowering prices. Some hotel chains are even starting to invest in peer-to-peer platforms. For instance, Hyatt is investing in One Fine Stay, a luxury home-sharing platform, and Wyndham is investing in Love Home Swaps. Collaboration is expected to continue in the future; a change from the historical fight between hotels and peer-to-peer platforms.

Wouter GeertsAnalyst Insight by Wouter Geerts - Travel Analyst, Lodging

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Euromonitor to Speak at Fast Casual Executive Summit

Fast-Casual-Executive-SummitEvent Name: Fast Casual Executive Summit

Event Date: 10-19-15

Event Location: Miami, FL

Event Description:  Join the leaders and innovators of the fast casual segment for three days of networking and interactive sessions that will offer powerful insights to help
you grow your restaurant business.

Elizabeth FriendSpeaker: Sr. Analyst, Elizabeth Friend

Session Time: 4-5PM

Session Description: Beverage Smarts: Get in on the Artisan Trend - Restaurant operators large and small are capturing consumer hearts with artisan beverages that span the spectrum from soda and iced tea to beer, wine and milkshakes. Artisan beverages remain on the list of top trends in 2015 and show no signs of fading out anytime soon. Hear from consultants and operators on where the trend is going and how to do it right.

Event Link: http://fastcasualsummit.com/

August 27, 2015

Fashion Friday: Global Apparel Brands Entering the Australian Market

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Global fast fashion brands and luxury powerhouses are attracted to the Australian market, looking to do business in a stable economy with healthy inbound tourism. While some companies are building brick and mortar stores in the country, others are choosing an online store approach. More conservative brands are only shipping to Australia as a way to test the market. However, flagship and concept stores remain a vital entry point into the country due to their prominent location and branding – despite high costs.

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Spiralized Vegetables Succeed as Ersatz Pasta

Simone BarokeAnalyst Insight by Simone Baroke - Contributing Analyst

Supermarket sales of courgettes and root vegetables are revving up this season. 2015 could well be the year when more consumers than ever will be reaching their five (or six, or seven) a day fruit-and-vegetable consumption target, and all thanks to a new trend that sees common vegetables transformed into a substitute for gluten-addled staples.

Pasta is suffering

How the world of pasta has changed. Once, it was all about the content of high quality durum wheat which separated the good from the bad. Now the mere mention of wheat makes consumers feel twitchy. Our packaged food data show that value sales of dried pasta fell by 13% in Western Europe and by 6% in North America over the 2009-2014 review period (based on fixed US$ 2014 exchange rates and constant prices). In Germany, sales dwindled by 13%, in Sweden by 11% and in Italy, pasta’s ancestral home, values plummeted by a disconcerting 25%.

For today’s health and weight conscious consumer, pasta is beset by two increasingly unpalatable problems. First of all, it is made from gluten-containing wheat, and it is precisely gluten and wheat which a growing number of consumers are trying to avoid. The second issue is that pasta is regarded by many as nothing more than a low-in-nutrients-but-high-in-carbs vehicle for tasty sauces. Pasta has thus come to be branded as an “empty calorie” food, much like white bread, sales of which aren’t doing too well either these days.

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Rise of Online Leisure Channel Drives Consumerisation of Corporate Travel

Angelo RossiniAnalyst Insight by Angelo Rossini - Online Travel Analyst

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After disrupting the leisure travel competitive environment, the rise of online travel agencies (OTAs) and of other leisure online travel players, such as metasearch engines and aggregators of peer-to-peer tourist services, is also having a significant impact on corporate business travel. In fact, today’s business travellers, when booking their trips through managed programmes, are increasingly looking for the same level of freedom, convenience and service offered by online leisure players, and expecting a seamless travel experience thanks to mobile services. The gap between the offer of OTAs and corporate travel intermediaries results in business travellers turning to booking channels outside their managed travel programme and to open booking platforms such as TripLink by Concur.

The answer of travel management companies (TMCs) to these developments is to embrace online travel innovation, offering their customers the possibility to choose between traditional phone transactions and online self-booking tools, including a growing number of available online platforms and travel services. TMCs are also increasingly assisting their customers during their trips through mobile apps to enhance their travel experience.

Corporate Business vs Leisure Intermediaries Global Travel Sales in 2014

Corporate-travel1

Source: Euromonitor International

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Recent Posts

Deception of Expanding Urban Populations

Korean Foodservice and Culture Enjoying Popularity in China

Despite Lipitor Setback, Future for Switches Remains Bright

Emerging Markets Tech: 5 Digital Trends to Watch

What Makes a Good Mobile Strategy? Event Recap from CONNECT Mobile Innovation Summit 2015

Hotels Collaborating with Peer-to-Peer Lodging Platforms

Euromonitor to Speak at Fast Casual Executive Summit

Fashion Friday: Global Apparel Brands Entering the Australian Market

Spiralized Vegetables Succeed as Ersatz Pasta

Rise of Online Leisure Channel Drives Consumerisation of Corporate Travel