Today, Wesgro's Research Department is proud to publish its first halal market research paper, Halal FAQs for F&B Exporters.
The paper provides various insights into the halal industry, ranging from background and definitions to getting halal certified and trading in this growing global market.
Wesgro’s Research Department produces over 100 research documents a year and this document’s insights will be invaluable to economists, exporters, strategic business owners in the province and even the press.
"As Cape Town and the Western Cape's official tourism, trade and investment agency our Research Department provides business intelligence to the agency, stakeholders and clients. It is our hope that this research will empower and provide guidance to Cape companies of all sizes looking to expand into the halal market which is currently valued at over a trillion dollars
"In March this year we experienced tremendous success with trade mission to Senegal which secured R100 million worth of trade. We have even more of workshops and inward/outward missions to key halal markets lined up over the next financial year, and we encourage Cape business, big or small, to contact us to access these opportunities," said Wesgro CEO Tim Harris.
The Western Cape Government aims to promote economic growth and job creation through Project Khulisa and is focusing on three areas, namely, tourism, agri-processing and the oil and gas sector.
Within the agri-processing sector halal products are a major priority. In order to promote this subsector, a Halal Park initiative is being investigated and halal exports are being promoted. In essence there are great export opportunities for halal products that link to the Western Cape’s strategy to become a forerunner in halal product manufacturing, processing and packaging.
Western Cape Minister of Economic Opportunities Alan Winde has mentioned specifically that African demand for halal products alone was estimated at $750 billion, but that “only $36bn of halal-branded products are going into that market, so there’s the demand, but not the supply”.
“Our data shows that by maximising our reach into the growing global halal market, Western Cape halal industry businesses could create 32 000 jobs. To reach this goal, we pursuing a range of initiatives. This includes a R4 million investment into our supplier development programme to make sure local entrepreneurs in the halal industry can take advantage of opportunities in this lucrative industry.
“Wesgro’s halal market research paper will further support our commitment to entrepreneurs. This document provides excellent insight into the industry, and will be a valuable resource for Western Cape businesses to grow their enterprises,” added Winde.
Wesgro is currently involved in growing the exports of halal products from the Western Cape. Market intelligence and research has shown that China, Malaysia, Nigeria, Senegal, Thailand and the United Arab Emirates offer the greatest immediate potential and demand for Western Cape products. These markets also offer Western Cape companies preferential access into their markets and supermarkets thanks to Wesgro’s networks. Wesgro has also established solid government and business channels in these markets.
Businesses that would like to participate in our upcoming halal trade workshops and missions can email trade@wesgro.co.za for more info.
The Halal FAQs for F&B Exporters contains a number of further insights and is available via the download link at the top of this page.
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The Wesgro Trade Unit provides a free and confidential service to help you establish and grow your business in Cape Town and the Western Cape. Our diverse economy, strong skills base and well-connected infrastructure present many opportunities for foreign buyers seeking high-quality goods and services, as well as exporters looking to expand into the African market.
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