Global Halal Industry Outlook

Le résumé fourni par la source

Halal means everything that is good and healthy as permitted by Islam. Halal is widespread in foods and beverages that Muslims are allowed to use and consume. Therefore, the halal industry is based on the belief that Muslims must consume food and drink and use the products permitted by the Qur’an and hadith. In fact, the market for halal products is growing as consumers grow in size. The halal industry is now expanding beyond food and beverages. Recently, it has expanded to include pharmaceuticals, cosmetics, personal care, electronics, travel, finance, and health products. The halal industry is limited to non-Muslims as well as 2.18 billion Muslims. Since the concept of halal is not limited to food, the halal industry has emerged as a new potential growth sector in the global economy. The industry is developing rapidly all over the world. The majority of Muslim countries such as Malaysia, United Arab Emirates, Bahrain, Saudi Arabia, and Indonesia and some non-Muslim majority countries are leading the Global Islamic Economic Indicator (GIEI) index. Despite the current global situation above, the global halal industry faces challenges in terms of standardization. The lack of unified global halal standards is an urgent issue in the halal industry. Today, country-specific halal standards are hampering further development of the industry. In the case of Indonesia, for example, the lack of comprehensive halal regulation and the lack of oversight of halal practices are problems. In addition, most halal products in Indonesia lack official approval. Despite the challenges in the global halal industry, there are opportunities to consider. There are many new Muslim consumers in the Islamic world of the younger generation. Given their growing size, these major markets have provided higher consumption rates and more opportunities for producers in the global halal market. From the perspective of quadruple-helix synergy, university or academia as one of the main helixes has an essential role to accelerate the future development in halal industry based on the roles of emerging the scholars and graduate students who have the characteristics of society knowledge ( mujtahid ), a society with based on technology ( mujadid ), and resources-based society ( mujahid ). And it can be achieved by the development focus at the strategies of Micro-science, Mezzo-science, and Macro-science to strengthening the Islamic value relate with managing systems and processes for the halal industry. In terms of the new normal adaption, the halal tourism industry that has been impacted by this pandemic situation has had to face the post-pandemic situation with new normal adoption. However, one of the interesting new normal adoption is preserving hygiene as one of the essential health protocols and also as a part of faith in Islam. The essence of all established health protocols is that we must always maintain cleanliness. This is in accordance with the Islamic beliefs on the issue of cleanliness itself since Islam pays great attention to the issue of cleanliness and hygiene.

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