Halal businesses for everybody: big opportunities in store

Malaysia has established herself as pioneer of the global halal industry. As a result, Malaysia is ranked as the first Halal Hub Centre in the world nowadays. Halal industry in Malaysia is huge with a size of market totalling to RM250 billion in 2016. With uptrend market, the value is expected to in...

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Main Author:	Abdullah, Moha Asri
Format:	Conference or Workshop Item
Language:	English
Published:	2018
Subjects:	HF5001 Business. Business Administration
Online Access:	http://irep.iium.edu.my/69040/ http://irep.iium.edu.my/69040/ http://irep.iium.edu.my/69040/1/CONFERENCE%2012%20DEC%202018%20ALLIANCE%20BANK.pdf

id	iium-69040
recordtype	eprints
spelling	iium-690402019-01-14T02:59:13Z http://irep.iium.edu.my/69040/ Halal businesses for everybody: big opportunities in store Abdullah, Moha Asri HF5001 Business. Business Administration Malaysia has established herself as pioneer of the global halal industry. As a result, Malaysia is ranked as the first Halal Hub Centre in the world nowadays. Halal industry in Malaysia is huge with a size of market totalling to RM250 billion in 2016. With uptrend market, the value is expected to increase to triple in 2030. There are a range of halal industry’s components. It is not merely related to food and beverage. However, it covers a wide spectre of products and services, including food ingredients and feed industries; pharmaceutical cosmetic and personal care products; meat poultry and seafood; farm input and animal feed; Islamic finance and banking; logistic, transport and shipping; tourism and hospitality services, standard, auditing and lab analysis; training and consultancy; research and development. Globally, a total of USD2 billion worth of Halal market in 20916 and is expected to increase to more than USD3 billion by 2022. It is now demanded not only in Muslim countries, but it is also rising demand in traditionally non-Muslim countries. Countries like U.K., France, Germany and the US have strong presence of Halal products and services. Some of Halal products are purposely located at one corners of some big supermarkets in those countries. Higher increasing rate of Muslim population in the world, immigration of the Muslim has resulted in higher demand for Halal products and services around the world. In addition, rate of economic growth and development in many Muslim nations have contributed to this trend, while the increase in purchasing power parity is equally essential. Recent interests from Japan, South Korea, Taiwan and China in Halal products and services, it provides huge opportunities for every stakeholder to leverage on the industry. The paper concludes that if more halal ingredients are made available in the market and effective promotion of Muslim tourism are carried out, a much higher prospect and value of halal industry development could be anticipated. 2018-12-12 Conference or Workshop Item PeerReviewed application/pdf en http://irep.iium.edu.my/69040/1/CONFERENCE%2012%20DEC%202018%20ALLIANCE%20BANK.pdf Abdullah, Moha Asri (2018) Halal businesses for everybody: big opportunities in store. In: Bridging Businesses into the Halal Space, 12th December 2018, Kuala Lumpur. (Unpublished) https://www.eventbrite.com/e/bridging-businesses-into-the-halal-space-tickets-53131271062#
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	HF5001 Business. Business Administration
spellingShingle	HF5001 Business. Business Administration Abdullah, Moha Asri Halal businesses for everybody: big opportunities in store
description	Malaysia has established herself as pioneer of the global halal industry. As a result, Malaysia is ranked as the first Halal Hub Centre in the world nowadays. Halal industry in Malaysia is huge with a size of market totalling to RM250 billion in 2016. With uptrend market, the value is expected to increase to triple in 2030. There are a range of halal industry’s components. It is not merely related to food and beverage. However, it covers a wide spectre of products and services, including food ingredients and feed industries; pharmaceutical cosmetic and personal care products; meat poultry and seafood; farm input and animal feed; Islamic finance and banking; logistic, transport and shipping; tourism and hospitality services, standard, auditing and lab analysis; training and consultancy; research and development. Globally, a total of USD2 billion worth of Halal market in 20916 and is expected to increase to more than USD3 billion by 2022. It is now demanded not only in Muslim countries, but it is also rising demand in traditionally non-Muslim countries. Countries like U.K., France, Germany and the US have strong presence of Halal products and services. Some of Halal products are purposely located at one corners of some big supermarkets in those countries. Higher increasing rate of Muslim population in the world, immigration of the Muslim has resulted in higher demand for Halal products and services around the world. In addition, rate of economic growth and development in many Muslim nations have contributed to this trend, while the increase in purchasing power parity is equally essential. Recent interests from Japan, South Korea, Taiwan and China in Halal products and services, it provides huge opportunities for every stakeholder to leverage on the industry. The paper concludes that if more halal ingredients are made available in the market and effective promotion of Muslim tourism are carried out, a much higher prospect and value of halal industry development could be anticipated.
format	Conference or Workshop Item
author	Abdullah, Moha Asri
author_facet	Abdullah, Moha Asri
author_sort	Abdullah, Moha Asri
title	Halal businesses for everybody: big opportunities in store
title_short	Halal businesses for everybody: big opportunities in store
title_full	Halal businesses for everybody: big opportunities in store
title_fullStr	Halal businesses for everybody: big opportunities in store
title_full_unstemmed	Halal businesses for everybody: big opportunities in store
title_sort	halal businesses for everybody: big opportunities in store
publishDate	2018
url	http://irep.iium.edu.my/69040/ http://irep.iium.edu.my/69040/ http://irep.iium.edu.my/69040/1/CONFERENCE%2012%20DEC%202018%20ALLIANCE%20BANK.pdf
first_indexed	2023-09-18T21:37:58Z
last_indexed	2023-09-18T21:37:58Z
_version_	1777412948850900992

Halal businesses for everybody: big opportunities in store

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