“Halal” is a word that means “permissible” and while it is commonly associated with food, halal has a far wider embrace, with the potential, in fact, to become a major global business brand. In Asia in particular, business people from countries ranging from Indonesia, Malaysia and Pakistan to the tiny nation of Brunei are talking up their nation’s aspirations to become a “halal hub”. It is not hard to see why. About a quarter of the world’s population is Muslim. Muslims are required by their faith to eat halal food, bringing the value of the global halal food market close to US$700 billion. This figure increases by the week as halal food producers use social media to extend their marketing to non-Muslims. The halal industry is already worth an estimated US$3 trillion, and includes chemicals, health care, cosmetics, pharmaceuticals, leather products and Islamic banking
Malaysian Journal of Halal Research Journal (MJHR) provides a detailed overview of the global halal food and beverage market, including up-to-date trade data on the key sub-sectors of the halal marketplace. It assesses the trade potential in the halal food market by giving insights into its size, dynamics and drivers, its regional variations, the complex nature of its integrated value chain and the evolving regulatory frameworks; discusses the role of trade and investment promotion institutions to develop a inernational halal industry; enhance people’s livelihoods and reduce poverty through development and support of small-scale food-based industries and trading ventures enabling them to connect to global supply chains.