Source: ABC

Euromonitor International, which issued a review of halal product markets, thinks that nearly double-digit annual growth awaits the global market of Islamic fashion clothing in the medium-term prospect.
According to Company’s estimates, 7.9% of the fashion market accounted for OIC countries in 2014, and in 2015 their share will grow already up to 8.1%, in 2016 up to 8.4%, in 2017 up to 8.8%, and in 2018 up to 9.1%.

“However, with the tremendous potential Islamic fashion offers in the future, it would be foolish to overlook its long-term potential. In fact, in 2013, the 57 countries that belong to the Organisation of Islamic Cooperation accounted for 7% of total value sales of apparel and footwear. By 2018, this figure is forecasted by Euromonitor International to rise to over 9%. And with approximately two billion Muslims in the world, accounting for nearly 30% of the global population, it is a target audience that should not be lightly ignored,” Gorzawski believes.

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