NEW YORK – Businesses are missing out by not capitalizing on the growing Islamic population and offering more halal products, suggests new research by Euromonitor International. CNBC writes that the report, released this week, points out that Muslim consumers are expected to reach 26% of the global population by 2030 and suggests that businesses should respond to this opportunity by offering more products aimed at the halal market.

Halal, which roughly translates as "permissible" or "lawful," requires food to be prepared according to specific guidelines. "An environment catering to their religious needs as well as businesses certified in complying with Islamic requirements boosts the attractiveness of a product or service," said Emil Fazira, food and nutrition research analyst at Euromonitor International, in a press release.

Food is one area where retailers should focus their efforts to attract this growing demographic. For instance, fast-food outlets in regions with large Muslim communities are increasingly offering halal meat in response to consumer demand.  In the United Kingdom, for example, about 100 KFC locations serve halal-certified chicken, amounting to $3.26 billion in sales last year.

However, there is still far more that could be done to make halal foods available more widely, according to Sadiq Mohammed, CEO of the Halal Food Authority, a non-profit organization which checks whether products comply with halal requirements. The organization has certified several global CPG brands as halal, including Kelloggs, Mars and Krispy Kreme, writes CNBC.

However, Mohammed told the news source that the food industry “is still unable to claim its true and deserving share in the global halal market. Political, sociological and ethical concerns are some of the reasons, with an element of Islamophobia and less focus on necessary PR and education. … Since halal encompasses food safety, hygiene, animal welfare and environmental health, halal provides an equipped PR and marketing tool to the industry."

Read about how some British convenience retailers are incorporating halal products into their inventory in the NACS Magazine article, “Mission Possible.”