Halal Business, from selling food to strategic economic sector

[abhiseshakana]

When we hear about halal business, many of us maybe think about halal food, but nowdays is halal business just about selling food?

These report* show that moslem consumption valuation on six halal sector (food, pharmacy, cosmetic, fashion, travel, media & recreation) reach USD 2.6 trillion on 2024 and a significant increase is even projected for the coming years, this valuation not include financial sector. Interesting fact I found that many non moslem country seriously developing halal business such as Thailand, Singapore, Japan, Korea, Australia, Brazil, China, New Zealand, and UK.

We can conclude that halal also as economic opportunity and global trade opportunity. So, what your opinion, will non moslem country dominated as key player on this halal business sector with all their capabilities and capacities to penetrate global market. will these phenomenon turn to be geopolitical trade competition and industry by using regulation and standarization as non tariff trade barriers ?

The last about the process of changing consumer moral values to be standardized commodities for business profit as market capitalization tool worth billions of dollars.

https://halalmui.org/global-halal-industry-ethical-sustainable/
https://salaamgateway.com/specialcoverage/SGIE25-26 *

[Livingleged]

Well I think the biggest set back here is the fact that the halal businesses never allows interest, running a financial service without interest will slow the growth of that particular sector. So I don’t see the moslem countries having the capability of penetrating the global market with only halal services most especially the financial sector. this is because the product that are halal are just few among other products across the world. And also the common interest of services needed in the global world will highly be affected if we want to focus on only the halal business.

[abhiseshakana]

Well I think the biggest set back here is the fact that the halal businesses never allows interest, running a financial service without interest will slow the growth of that particular sector. So I don’t see the moslem countries having the capability of penetrating the global market with only halal services most especially the financial sector. this is because the product that are halal are just few among other products across the world. And also the common interest of services needed in the global world will highly be affected if we want to focus on only the halal business.

For whom who not familiar with halal bussiness, i understand general misconception between sharia monetary system, with halal business, it is two sector that completely different. Halal business describe about product and how the production process. Whereas sharia finance talking about how capital is raised and managed.

The main based sector of halal business is food and beverages which actually the biggest primary commodity in the world. For company doesn't need to change their whole structural corporation based on sharia model to produce and sell product which have halal certification, they just need to ensure physical supply chain meets the halal standards and regulations of the destination market, then the product is become commercially viable in the international market.

[Fortify]

When we hear about halal business, many of us maybe think about halal food, but nowdays is halal business just about selling food?

These report* show that moslem consumption valuation on six halal sector (food, pharmacy, cosmetic, fashion, travel, media & recreation) reach USD 2.6 trillion on 2024 and a significant increase is even projected for the coming years, this valuation not include financial sector. Interesting fact I found that many non moslem country seriously developing halal business such as Thailand, Singapore, Japan, Korea, Australia, Brazil, China, New Zealand, and UK.

We can conclude that halal also as economic opportunity and global trade opportunity. So, what your opinion, will non moslem country dominated as key player on this halal business sector with all their capabilities and capacities to penetrate global market. will these phenomenon turn to be geopolitical trade competition and industry by using regulation and standarization as non tariff trade barriers ?

The last about the process of changing consumer moral values to be standardized commodities for business profit as market capitalization tool worth billions of dollars.

If you're a barbarian (not the clever kind) then halal food might be what you think about for starting a new business, yet most civilized people don't need to torture animals while killing them. The sooner Muslims moderate and stop these kind of disgusting practices that should have been kept in the stone age, the better quite frankly. It's a real shame that tolerating such practices often ends up in catering to the lowest common denominator and more food producers are doing this to capture a certain audience. Most intelligent developed countries have become less and less religious over the decades, but sadly religion is still able to infest and infect the world with it's backwards practices that are so inhumane. If business had more of a backbone it would stand up and reject such practices only encouraged by awful religions.

[Cryptomultiplier]

Well I think the biggest set back here is the fact that the halal businesses never allows interest, running a financial service without interest will slow the growth of that particular sector. So I don’t see the moslem countries having the capability of penetrating the global market with only halal services most especially the financial sector. this is because the product that are halal are just few among other products across the world. And also the common interest of services needed in the global world will highly be affected if we want to focus on only the halal business.

For whom who not familiar with halal bussiness, i understand general misconception between sharia monetary system, with halal business, it is two sector that completely different. Halal business describe about product and how the production process. Whereas sharia finance talking about how capital is raised and managed.

The main based sector of halal business is food and beverages which actually the biggest primary commodity in the world. For company doesn't need to change their whole structural corporation based on sharia model to produce and sell product which have halal certification, they just need to ensure physical supply chain meets the halal standards and regulations of the destination market, then the product is become commercially viable in the international market.

The Halal business has definitely transformed itself in a major way to meet global standards and so far, the business keeps dominating because it didn't restrict itself to only the Muslim community.
For this business to have grown this much, it means it has done so much to fulfil regulatory policies and standard compliance and customers trust it enough to have given it a positive reputation it stands on today.

[coupable]

I agree with your observation that the halal business looks like a big global trend today, but it is also worth noticing that its success comes from the number of Muslims in a specific market only. It’s not locals who buy halal food or services when they sell well in non-Muslim countries. It is just because of Muslim people living there or visiting as tourists. Big companies produce halal products just for this group.
What is clear is that the halal market is only expanding because the muslim population is increasing in a market that definitely welcomes the integration of muslims within.

Well I think the biggest set back here is the fact that the halal businesses never allows interest, running a financial service without interest will slow the growth of that particular sector.

This is not correct. How did you get that conclusion? There are Islamic Banks, do you really think that they sell financial products without interests in return? Let about commercial goods or services.

[hafiztalha]

The market for halal business has expanded beyond just having the concept of halal food for Muslims.  Now there are new trends including halal cosmetics, tourism, media shows and pharmaceutical companies.  They have become a new expanding global market, rather than just being religious requirement for the particular set of people.
Non Muslim countries are not dominating this sector just because they have better technology, skills, equipment and more manufacturing capacity. Muslim countries are still very important players in this game if they start investing in halal products, do proper research, start making quality standards, branding and international trading of halal products, then they can make their own name in this emerging market.
If different countries are creating their own halal standard rather than an international standard, then certification requirements are going to create more cost and make international trade very difficult. There should be a proper balance between religious values and commercialisation. Turning halal principles into marketable products is going to create jobs, economic opportunities and also give people more investment options, making the economy better.

[alani123]

Halal is a religious practice and it's a bit counter intuitive to business.

A good for business certification organisation would just give the stamp to anyone that pays. A religious butcher would want the stamp from the mufti himself. But the mufti shouldn't concern his person with business and monetary transactions as he is a religious figure.

So how does one claim that halal is a business opportunity? It's a bit contradictory to me.

If a real ethical organisation checks slaughterhouses to be more ethical and clean we all know what's gonna happen. Slaughter houses are horribly abusive to animals and don't want to change. Otherwise their model becomes more expensive to operate and less profitable. I don't think large scale farming and ethics go together. So I can't see this bering a business opportunity while keeping the ethics. It's hard to find a butcher that had his own meat in the cities anymore. It's all factory made where we know the ethics and treatment towards animals are horrible.

[BTC FutureKing]

Well I think the biggest set back here is the fact that the halal businesses never allows interest, running a financial service without interest will slow the growth of that particular sector. So I don’t see the moslem countries having the capability of penetrating the global market with only halal services most especially the financial sector. this is because the product that are halal are just few among other products across the world. And also the common interest of services needed in the global world will highly be affected if we want to focus on only the halal business.

For whom who not familiar with halal bussiness, i understand general misconception between sharia monetary system, with halal business, it is two sector that completely different. Halal business describe about product and how the production process. Whereas sharia finance talking about how capital is raised and managed.

The main based sector of halal business is food and beverages which actually the biggest primary commodity in the world. For company doesn't need to change their whole structural corporation based on sharia model to produce and sell product which have halal certification, they just need to ensure physical supply chain meets the halal standards and regulations of the destination market, then the product is become commercially viable in the international market.

The Halal business has definitely transformed itself in a major way to meet global standards and so far, the business keeps dominating because it didn't restrict itself to only the Muslim community.
For this business to have grown this much, it means it has done so much to fulfil regulatory policies and standard compliance and customers trust it enough to have given it a positive reputation it stands on today.

Whatever is started with halal and good intentions its results will automatically be good.For example, if you start a restaurant or other business in a halal way not only Muslims but also people of other religions will agree with it and will like your work and will definitely use it.If you start the same business in an illegal and forbidden way there is no guarantee of its success and its results may affect you badly.Therefore everything should be done with halal and good intentions.Growth and fame will automatically follow you.Your business has reached not only Muslims but also other consumers.

[SUPERSAIAN]

I had never considered that Halal consumption constitutes a significant commercial sector in its own right. When the term Halal food is mentioned, one tends to think primarily of restaurants and meat products; however, there is actually a much larger economic sector behind it. What is particularly noteworthy is that this field has evolved beyond merely selling products that meet religious sensitivities into an economic arena of strategic importance for nations.

If the right standards and reliable certification systems are established, new export opportunities could open up for domestic producers, and countries could aim to secure a substantial share of this market.

[CryptoBuds]

We can conclude that halal also as economic opportunity and global trade opportunity. So, what your opinion, will non moslem country dominated as key player on this halal business sector with all their capabilities and capacities to penetrate global market.

Non-Muslim country have already secured very strong position in global supply chain of halal market.
They have achieved this success due to their excellent supply chain.
Currently there is no universally recognized system for Halal certification worldwide.
Bodies such as Malaysia’s JAKIM, Indonesia’s BPJPH, UAE’s ESMA and Gulf countries GSO have their own standard. Each has its own criteria and inspection processes and major issue is that they do not always mutually recognize one another. Hence, shipping country or firms must acquire different certificate for per market, which is definitely clunky process.

Non muslim country like China, UK, Singapore, Japan have much opportunity.
China, UK, Singapore, Japan and other non muslim country only capitalized on this opportunity.
They maintain essential production capability. And their supply chain are rugged.
As a result they do not face excessive hurdle in getting their product into various market. This is why I think influence of non Muslim country in halal market will increase more in future.

[pooya87]

I'm afraid part of what you are witnessing is fake and part of the consumerism plague that plagues the global economy. Nowadays Islam is growing rapidly and the number of the followers of this peaceful religion is on the rise (despite the Western attempts to sully the name using their Takfiri proxies), so obviously this growing population requires "halal" stuff as well therefore the business that has formed to satisfy that.

Other than that I have to point out that historically Muslims have always been dominating the economic sector in a way. Muslims merchants have been fair and never "ripped their customers off". In fact Western historians write of their surprise when facing this phenomenon! For example whenever they bought something from a Bazaar from a Muslim they received more than what they'd paid for.

Specifically about, we have to remember that "halal" food has far better quality. It's not just a category of food, it is also the preparation of the food. For example preparing meat has a mechanism known as ذَبْح which prevents the animal's meat from going bad during the slaughter.

[Darker45]

It was several years ago when I first learned that Halal isn't actually exclusive to food. I was surprised the market extends to different industries.

However, it seems to me the growing trend right now is mainly based on strategic or consumerist factors and not necessarily on strict compliance or adherence to what's permissible or not under Islamic law.

I may be wrong but the impression it creates right now is that the certification has more or less become a hollow stamp like "all-natural", "purely organic", "non-UPF", "eco-friendly", "free range", and so forth.

[NotATether]

Halal industry is an umbrella term. So it's kind of confusing to talk about unless you are referring to all those businesses in general.

Basically, if your bank gave you an interest-free account for your company, that is already a long way towards a halal business.

I wrote "a long way towards", because maybe there are some small details I am not aware of.

[As-Soon-As]

Nowadays, the number of dishonest traders is high, because the price changes in an instant and people have a high desire for interest. If you can do halal business, then you can improve commercially more, because now the number of dishonest traders is high, and those who are related to interest have good business relationships, but their progress is much less. There is more progress in halal business, so in this case, if you can do halal business, then of course
In particular, proprietary businesses are more likely to be halal, and many proprietary businesses become unscrupulous traders because they create massive manipulations in the market. They create price differences in the market from different people for the purpose of making a little more profit, the day traders can hide themselves from all these activities, that day the state-approved halal businesses will have a greater reputation.

[abhiseshakana]

If you're a barbarian (not the clever kind) then halal food might be what you think about for starting a new business, yet most civilized people don't need to torture animals while killing them. The sooner Muslims moderate and stop these kind of disgusting practices that should have been kept in the stone age, the better quite frankly. It's a real shame that tolerating such practices often ends up in catering to the lowest common denominator and more food producers are doing this to capture a certain audience. Most intelligent developed countries have become less and less religious over the decades, but sadly religion is still able to infest and infect the world with it's backwards practices that are so inhumane. If business had more of a backbone it would stand up and reject such practices only encouraged by awful religions.

Dude, actually halal practice also accept reversible stunning as long as the animal is merely unconscious and not yet dead when slaughtered, if its dies from any stunning method before slaughter, meat becomes carrion, which is forbidden for consumption. You can search information about Halal slaughter procedure with its main purpose to make the animal did not have time to process the pain.  I think advancements in science and technoly which combined with human intellectual capacity, have enabled the discovery of scientific validation behind halal procedures.

The Halal business has definitely transformed itself in a major way to meet global standards and so far, the business keeps dominating because it didn't restrict itself to only the Muslim community.
For this business to have grown this much, it means it has done so much to fulfil regulatory policies and standard compliance and customers trust it enough to have given it a positive reputation it stands on today.

I agree with your observation that the halal business looks like a big global trend today, but it is also worth noticing that its success comes from the number of Muslims in a specific market only. It’s not locals who buy halal food or services when they sell well in non-Muslim countries. It is just because of Muslim people living there or visiting as tourists. Big companies produce halal products just for this group.
What is clear is that the halal market is only expanding because the muslim population is increasing in a market that definitely welcomes the integration of muslims within.

This halal standardization is inclusive. Consumed products that meet the highest hygiene standards are automatically suitable for consumption by anyone, whether it is a specific target market or mass market. Without demand non moslem producer country will not provide these Quality assurance certification/label. It show there are bigger non target market who appreciate the halal product's characteristics such as traceability clear supply, ensure animal are healthy prior processing and the production facilities highly hygienic and free from cross contamination. On these case market speak.

Beside rapid moslem population growth, there are significant proportion increase of non moslem buyer at mainstream outlet. Their consideration are halal label associate them with superior hygiene, supply chain traceability, and clean processing standards. Interestingly,  consumers who favor clean label  ethical or organic products also part of these trend

The last are part of giant consumer group business strategy, provide halal label on their private label are highly efficient market segmentation. In some country halal product becoming part of the daily shopping choices for the multicultural community at large.

Another consideration i think provide a single product which acceptable for all market segment will be cheper than product separation so moslem customer accept it with its halal consideration and non moslem customer choose it because its quality

https://dataintelo.com/report/halal-food-market
https://www.mordorintelligence.com/industry-reports/halal-food-beverages-market
https://www.emerald.com/jima/article-abstract/10/4/1308/221857/The-acceptance-of-halal-food-in-non-Muslim?

[Nothingtodo]

In Muslim countries, it is not only limited to halal business, but Muslims are now doing haram business along with halal business. The scope of halal business is small and in that case, less profit can be made by selling halal things, but if haram things are sold at the same time, then more real gains can be made in that case, that is why now non-Muslim countries of the world are paying attention to haram business along with halal business. Especially in our country, being Muslim-dominated, halal business, especially food business, is now gaining popularity on a large scale. Along with casinos, liquor bars are also gaining popularity.

[Lida93]

The Halal business has definitely transformed itself in a major way to meet global standards and so far, the business keeps dominating because it didn't restrict itself to only the Muslim community.
For this business to have grown this much, it means it has done so much to fulfil regulatory policies and standard compliance and customers trust it enough to have given it a positive reputation it stands on today.

True about the transformation which mostly started with  consumable foods then later evolved into broader are of finance like the pharmaceutical industry, but then, one thing that have kept the halal business basking over the years it how it has stayed on its principles of coordinating business, I much as I know of it, it's ethical conducts in trade from the merchants has made a reputation for it. Unlike most common secular businesses which dwells on cheating and crude profit making behaviours, these are rarely found among halal business which has substantially expanded the industry globally competing with secular business ventures.

[Zlantann]

The market for halal business has expanded beyond just having the concept of halal food for Muslims.  Now there are new trends including halal cosmetics, tourism, media shows and pharmaceutical companies.  They have become a new expanding global market, rather than just being religious requirement for the particular set of people.
Non Muslim countries are not dominating this sector just because they have better technology, skills, equipment and more manufacturing capacity. Muslim countries are still very important players in this game if they start investing in halal products, do proper research, start making quality standards, branding and international trading of halal products, then they can make their own name in this emerging market.
If different countries are creating their own halal standard rather than an international standard, then certification requirements are going to create more cost and make international trade very difficult. There should be a proper balance between religious values and commercialisation. Turning halal principles into marketable products is going to create jobs, economic opportunities and also give people more investment options, making the economy better.

The growth in population of Muslims might be one of the reasons why halal businesses are growing globally. In the Western world, many churches are closing down because of poor attendance, an aging population, and a lack of interest from young people. But in some of these countries, the Muslim population is growing.

In the area of cosmetics and food, medicine, halal businesses might be growing in some countries due to the benefits of these products. Some of them offer cheaper yet better value. In the area of fashion,  I don't think the halal industry is attracting many people in the fashion industry. I don't think people in non-Muslim nations want to copy the dressing styles except it is redesigned.

[Asiska02]

Well I think the biggest set back here is the fact that the halal businesses never allows interest, running a financial service without interest will slow the growth of that particular sector. So I don’t see the moslem countries having the capability of penetrating the global market with only halal services most especially the financial sector. this is because the product that are halal are just few among other products across the world. And also the common interest of services needed in the global world will highly be affected if we want to focus on only the halal business.

Most countries that are Muslim dominated, or regions in a country that are Muslim dominated usually pay a close attention to the products they consume, they target halal foods for consumption which is very okay according to their religious belief on choosing certain foods or products for consumption. If we still want to emphasize on this, even non-Muslim countries still want to adopt this halal food option for consumption because these products are generally consumed by both Muslims and non-Muslims in every country.

As a business owner, if your targeted customer for consumption of your products will accept all halal products for consumption and when it is not halal, you can only target some people and the rest who are Muslims won’t consume those products, then it is better you stick to the halal production to get enough sells of your products. From a business minded perspective, one can actually make a conclusion as to what they should focus on more in a debate of producing more halal products than the non-halal ones.