The British Muslim consumer base of 2 million represents a spending power of £20.5 billion (Mintel). With the market segmented into lucrative industries like Halal Food, worth a staggering $634bn (£432bn), and Islamic Fashion, $96 billion and growing, the Muslim consumer base is rapidly expanding.
With significant demand for products and experiences, which actively embrace and promote an ethical, sustainable Muslim Lifestyle, experts are viewing the Muslim consumer as “a critically important segment for marketers.”
The Muslim market in the UK is certain to grow: at 2.8 billion, it comprises of 5% of the population. It is estimated that by 2030, this number will grow to 5.5million, with one in 10 Britons being Muslim.
At present, Muslims are the second-largest faith group, and have the youngest age profile.