Growth Prospects for Islamic Market in Russia
Objectives: The paper is devoted to the assessment of the market of Muslim goods in Russia and prospects for its growth and development. Methods/Statistical Analysis: Using the method of interviewing, the authors obtained information on the halal meat and poultry market and the Islamic clothing market in the Russian Federation. Findings: There is a scientifically confirmed strong correlation between the demand and the religious affiliation of the population. The paper presents some facts evidencing the positive dynamics of the segment under study: Muslim population growth, religious consciousness increase, strengthening of the importance of Islamic finance and the emergence of new markets for exports. Prospects for entry of Russian products into the international market are described. Application/Improvements: The authors conclude by identifying the major problems to be solved for the successful development of the market of Muslim goods.