Bangladesh has been ranked as the fifth largest Muslim consumer food expenditure market in the world, according to an estimate unveiled in the State of the Global Islamic Economy Report 2017-18.
It estimated that Bangladeshi Muslims spent US$71.10 billion for consuming foods in 2016.
Indonesia is at the top of the list where the Muslims spent $169.70 billion for Food and Beverage (F&B) in 2016 followed by Turkey ($121.10 billion), Pakistan ($111.80 billion) and Egypt ($80.90 billion).
“With Muslim spend on F&B growing at nearly double that of global growth, the sector presents substantial opportunities as Muslim consumers want more diversity in terms of cuisine, flavours and product offerings,” said the report.
It also expected that Muslim spending on F&B may reach at $1.93 trillion by 2022, and halal food will remain a core driver of growth in the Islamic economy.
Bangladesh is, however, not included in the top 10 countries of the halal food indicator of the report.
Halal food indicator represents a country’s strength on developing the ecosystem for halal food and beverage.
The latest indicator, included in the report, showed that Malaysia leads the list followed by United Arab Emirates (UAE), Brazil, Australia, Pakistan, Oman, Brunei, Singapore, Sudan and Saudi Arabia.
