02
@Halal | july-august. 2020
04-05
Embracing a halal
pharmaceutical
eco-system
WHC2020 webinar discusses need
for better coordination and innovative
solutions for a sturdier halal
pharmaceutical eco-system
06
Virtual platform
for World Halal Expo
Event will bring together more than 100
companies worldwide and over 2,500
buyers
08
Eye on Malaysia
Vietnam views Malaysia as potential export
market and gateway to global halal market
| @Halal says... |
Take the
bull by
its horns
THE halal market has taken the world by
storm. The growth is unprecedented.
Hardly any surprises there if one looks at
the numbers. Consider this: According to
a recent study, Islam has almost three billion
adherents. That’s an almost guaranteed
potential customer base.
Recent trends have also indicated that even non-
Muslims are comfortable with halal food, goods and
services, thereby pushing the prospects even higher.
According to the 2017/2018 Global Islamic Economy
Report by Thomson Reuters in collaboration with
DinarStandard, globally, Muslim consumers spent
US$1.2 trillion on food and beverage in 2016. By 2022,
this figure is expected to reach US$1.9 trillion.
The report projected the market value to reach US$2.6
trillion by 2023.
The Pew Research Centre has estimated that the
number of Muslims globally will continue to grow
while remaining the second-largest religion up till
2050 and reducing the disparity gap between Christianity
(the world’s largest religion) and Islam every
decade.
What’s the point in all this? Well, where is Malaysia’s
play in the scheme of things?
Malaysia had the heads-up going into the race. We
were trendsetters, we led and showed the way even
though we did not have the largest Muslim population
unlike our neighbour Indonesia.
We have also done relatively well in developing our
halal food industry. We lead when it comes to promoting
halal standards and certification.
While we have done well, we should not rest on our
laurels. Other countries such as Thailand with a
Muslim population of a mere 4.29 per cent, are catching
up. The push into the halal market is also coming
from the unlikeliest of sources such as Japan, South
Korea and Vietnam. Singapore has said it wanted to
develop the most advanced halal hub in Southeast
Asia.
There’s no room for complacency. We must continue
our efforts to forge ahead of our competitors as more
countries eye the lucrative and growing world halal
market.
09
HDC partners with
StanChart Saadiq
Growing awareness of integrated Islamic
financial services in halal businesses
COVER STORY
10-12
Pandemic boost for
the halal industry
The Covid-19 pandemic has ironically seen
increased demand for halal food products
with emphasis on quality and cleanliness
13
Big role for halal research
JAKIM ensures products and services
can obtain halal certification as demand
increases
14
Halal lab testing
High time for an industry that produces and
distributes halal products to expand their
business
16-17
Halal stickers
Labelling plays critical role in halal assurance
practice