Zimbabwe, a country with a significant Muslim population, is poised to benefit from the growing global demand for halal products. Halal certification, a vital component for businesses seeking to tap into this market, offers numerous benefits for Zimbabwean companies. In this article, we will explore the advantages of halal certification and how it can benefit your company specifically and local businesses at large.
According to Research And Markets the global halal products market value in 2023 was US$ 2,447.44 Billion and is expected to rise to US$ 4,569.69 Billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 9.3%.
So how will Halal Certification benefit in Zimbabwe?:
- Access to International Markets: Halal certification enables Zimbabwean businesses to export products to Muslim-majority countries, expanding their global reach and increasing revenue.
- Increased Market Share: By obtaining halal certification, Zimbabwean companies can tap into the growing demand for halal products, gaining a competitive edge even in the local market.
- Improved Product Quality: The halal certification process ensures that products meet rigorous standards, resulting in higher quality and safer products for consumers.
- Enhanced Brand Reputation: Halal certification demonstrates a commitment to quality, safety, and ethical standards, enhancing the reputation of Zimbabwean brands.
- Compliance with Regulations: Halal certification helps Zimbabwean businesses comply with regulations and laws in Muslim-majority countries, reducing the risk of non-compliance.
- Job Creation and Economic Growth: By expanding into new markets and increasing exports, halal certification can contribute to job creation and economic growth in Zimbabwe.
- Diversification of Exports: Halal certification enables Zimbabwean businesses to diversify their exports, reducing dependence on traditional markets and products.
- Increased Consumer Trust: Halal certification builds trust with Muslim consumers, who can confidently choose products that meet their religious and ethical standards.
- Competitive Advantage: By obtaining halal certification, Zimbabwean businesses can differentiate themselves from competitors and establish a unique selling proposition.
- Government Support: The Zimbabwean government has expressed support for the halal industry, offering incentives and resources for businesses seeking halal certification.
Halal certification offers a wide range of benefits for Zimbabwean businesses, from accessing international markets to improving product quality and enhancing brand reputation. By embracing halal certification, Zimbabwe can unlock new opportunities, drive economic growth, and establish itself as a key player in the global halal market.