The global Muslim population is set to rise from 1.6 billion to 2.8 billion by 2050. This is the world’s youngest and fastest growing consumer group. But it remains untapped, even though Muslim audiences are increasingly calling for brands to respond to their needs. The key is to ensure their values are understood.
One third of Muslims are under 15. Two thirds of Muslims are under 30, which accounts for a staggering 1 billion people, more than 14 per cent of the global population. Muslims are also incredibly diverse and globally spread. More than 60% live in Asia. In 81 countries the Muslim population will soon exceed 1 million. Minority Muslim populations will add up to a sizeable 500 million people.
All of this makes it crucial for any brand or organisation serious about growth to engage with them effectively.
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From fashion to food, more and more leading brands are looking to engage with Muslim consumers.
Britain has a vibrant Muslim community who purchase items based on their faiths and beliefs, like the need to have food adhering to Muslim dietary requirements, which has led to the British halal industry being valued at £700 million.
It’s the same for markets like modest clothing, animal-free make-up, compliant finance and so much more. The truth is, if you’re not telling the Muslim consumer, they won’t know your product matches their lifestyle.
Muslims makeup around 5% of the population of the UK, and they are the most diverse group in the world. Due to requirements of faith, they have created new drivers for brand growth.
The combined spending power in the UK is estimated at £20 billion. This is a largely untapped market, with Muslim consumers ultimately wanting to feel that they are included.
The global ‘Halal’ lifestyle is estimated at $1.2 trillion, which includes food, fashion and entertainment. Even more remarkable is that it’s still growing at $500 billion annually.
At Jacobdeen, we care about the world we live in and the people we share it with. That’s why we ensure that the work we produce, always remains mindful and respectful.
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