Makeup, meds and sports wear: Why Halal has become big business

You might think of Halal as just being a set of Islamic rules about meat, but the global Halal industry incorporates everything from medicines to cosmetics. And the industry is growing fast.

One report valued the global halal food and beverage market at $1.37 trillion in 2014, which represented 18% of the entire market, and the number of Muslims worldwide is expected to increase from 1.6 billion in 2010 to 2.8 billion in 2050, according to Pew Research Center.

In Europe, the halal market is growing at an estimated annual rate of between 10-20% -- depending on what products you include -- a demand driven by a general desire for Sharia compliance among a growing Muslim population, according to Paulius Kuncinas, business analyst and managing editor, Asia, at Oxford Business Group