Halal Industry: Key Challenges and Opportunities

Abstract

The global halal market has emerged as a new growth sector in the global economy and is creating a strong presence in developed countries. The most promising halal markets are the fast-growing economies of the Asia, Middle East, Europe and the Americas. With a growing consumer base, and increasing growth in many parts of the world, the industry is set to become a competitive force in world international trade. The halal industry has now expanded well beyond the food sector further widening the economic potentials for halal. This paper will help to deepen understanding of the concept of Halal so as to familiarize non-Muslims about Halal principles and products.

Pengaruh Halal Knowledge, Islamic Religiosity, dan Attitude terhadap Behavior Konsumen Muslim Generasi Y Pengguna Kosmetik Halal di Surabaya

“…Kehadiran pasar halal ini menjanjikan dan paling cepat tumbuh di Asia, Timur Tengah, Eropa, dan Amerika (Elasrag 2016). Industri halal secara global tidak hanya seputar makanan, melainkan meliputi juga industri farmasi, kosmetik, produk kesehatan, serta komponen sektor jasa seperti logistik, pemasaran, media cetak dan elektronik, kemasan, dan branding (Elasrag 2016). Perubahan tingkah laku konsumen muslim dalam beberapa tahun terakhir dikarenakan peningkatan jumlah penduduk muslim di dunia dan meningkatnya kesadaran para pemuda muslim terhadap produk halal (Swidi et al 2010).…”

Exploring Students’ Religiosity and Halal Lifestyle

“…The concept of halal does not only concern the product consumed, but also involves service, including financial services that must be free from usury, halal tourism services etc. [1]. The development of halal lifestyles (halal lifestyle) emerged in recent years driven by the growth of public awareness to apply the teachings of Islam in all aspects of life.…”

The Influence of Attitude, Knowledge and Quality on Purchase Intention towards Halal Food: A Case Study of Young Non-Muslim Consumers in Thailand

“…Global halal market is estimated to be worth more than 2.3 trillion USD and the value of halal food is reaching 700 billion USD per year (Elasrag, 2016). Moreover, Muslims around the world who consume halal food and beverages is worth about 1,128 billion USD or about 17% of global expenditure (Elasrag, 2016).…”

“…Moreover, Muslims around the world who consume halal food and beverages is worth about 1,128 billion USD or about 17% of global expenditure (Elasrag, 2016). Thailand is a leading exporter of halal products in Southeast Asia, as well as the world's fifth largest halal food exporter with 5.6% share of the global halal food market valued at 5 billion USD a year annually (Abdul, 2014;Elasrag, 2016).…”

“…Moreover, Muslims around the world who consume halal food and beverages is worth about 1,128 billion USD or about 17% of global expenditure (Elasrag, 2016). Thailand is a leading exporter of halal products in Southeast Asia, as well as the world's fifth largest halal food exporter with 5.6% share of the global halal food market valued at 5 billion USD a year annually (Abdul, 2014;Elasrag, 2016). Moreover, the Thai government has developed and improved several key strategies to strengthen the halal industry in the country and to reassure consumers of halal food in recognition of the quality and standards in the production of halal food in Thailand.…”