SIAL is one of the largest exhibitions in the food sector, and one of the most income-generating exhibitions for investors and employees. It houses 19 sections and brings together about 5838 fairs under one roof from around the world. It is expected that more than 150000 visitors from around the world will try to visit the exhibition every two years. SIAL International Exhibition in Paris, which starts tomorrow and lasts until 23 Oct. 2014, is one of the largest food exhibitions in the world. The exhibition gives the participants the opportunity to see the latest and the best products in the global market, with a particular focus on the key challenges facing this industry worldwide.
21 Saudi companies participate in this round of SIAL International Exhibition in Paris, 2014, as part of the Saudi Pavilion which is organized by the Saudi Exports Development Authority "SAUDI EXPORTS" to highlight the Saudi national products and the open potential markets for export. This will ensure greater contact with existing customers and opens wider horizons with prospective customers. This will be achieved by understanding the specific requirements of customers, which will assist in developing these products and services appropriate for the requirements of various markets. All this will contribute to the development of competitive capabilities of these firms through platforms that simulate the target markets. This is carried out through the promotion of those products via international platforms such as SIAL Paris exhibition.
It is worth noting that the demand for "Halal" food is witnessing remarkable increase worldwide, based on a recent study conducted by Thomson Reuters Foundation in collaboration with Dinar Standard™. This market has seen a growth that, by the end of last year, 2013, has reached $1.1 trillion. The analysis showed that the size of "Halal" food and beverage market is 16.6% of the total global food and beverage market in 2012. "Halal food is gaining an increase in awareness worldwide by the Sustainable Health Principles followed in production of "Halal" food. It is expected that the global volume of this market will reach $1.6 trillion by 2018. The compound annual growth rate (CNGA) is also expected to increase by about 6.9%. "Halal" is a term used to describe a product or consumer products where Islamic law-Shariah- principles are applied through the various stages of production or manufacture. They now include industries of more than 500 products. "Halal" food market includes a large variety of products, including chicken, raw beef along with processed foods and cold drinks.
The "SAUDI EXPORTS" is looking forward to providing more new opportunities for global expansion of local companies amid a noticeable growth in the number of major markets around the world, notably the Middle East, North Africa and Southeast Asia. Given the expected population and income growth in the developing regions, the companies expect continued high demand in these markets.