How to be competitive in food business by latest technology and industry-leading certification?
Presentation highlights:
Global Muslim Market: A Growing Economic Force
Dominic highlighted the significant economic impact of the global Muslim population, estimated at 1.81 billion as of June 2023, representing approximately 24% of the world’s population
Indonesia, Pakistan, and India lead with the largest Muslim populations, while the Middle East boasts countries with over 90% Muslim demographics
Consumer Spending and Market Projections :
In 2023, global Muslim consumer spending is expected to reach US$2.2 trillion, accounting for 12% of total global consumer expenditure
The Muslim consumer market has demonstrated robust growth, outpacing global averages with a 6.2% annual growth rate over the past five years
Projections indicate that by 2027, Muslim consumer spending could reach $2.8 trillion, with a compound annual growth rate (CAGR) of 4.9%
Key Industries: Food, Beverage, and Travel :
The global Muslim food and beverage market, valued at approximately US$800 billion, represents 16% of the global food and beverage industry
Halal-certified products, including meat, dairy, and baked goods, have become mainstream demands. The Muslim travel industry is also thriving, with expenditures surpassing US$200 billion and accounting for 12% of global travel spending
Understanding Halal Food
His presentation provided a comprehensive overview of Halal food, defined as “permitted” or “lawful” in Arabic
This concept encompasses not only the food itself but also the entire process of production, processing, transportation, and storage
Dominic outlined permitted (Halal) and prohibited (Haram) foods, emphasizing the importance of adhering to Islamic dietary laws.
Halal Slaughter and Alcohol Regulations
Detailed information was provided on the Halal slaughter procedure (Zabiha), including requirements for the slaughterer, animal condition, and slaughter method
His presentation also covered regulations for alcohol use in Halal food, stating that while alcoholic beverages are prohibited, small amounts of naturally occurring alcohol in food are acceptable
Importance of Halal Certification
Dominic emphasized the crucial role of Halal certification in:
- Ensuring compliance with Islamic law
- Building consumer trust and confidence
- Facilitating market access
- Guaranteeing quality assurance
- Promoting ethical manufacturing practices
- Enhancing branding and marketing opportunities
Halal Excellence Authentication System
His presentation concluded with information about a Halal Excellence Authentication System, which includes a QR code scanning feature allowing consumers to check whether products are Halal or Haram