ASEAN KEY DESTINATIONS
Malaysian halal industry set to grow
Halal Industry Development Corporation Sdn Bhd (HDC) Chief Executive Officer Datuk Seri Jamil Bidin said the Malaysian halal market last year stood at RM15 billion and would continue to see solid demand among Malaysians.
Elsewhere, there was also great demand in both Muslim and non-Muslim nations, he said.
"This should be the interest of the Malaysian companies with halal certification to participate to fulfill the demands of the Muslim community.
"We have also seen an increase of 30 per cent in the number of companies obtaining the halal certification issued by the Islamic Development Department Malaysia and for sure, this exercise will enable the companies to tap into the growing halal market," he said.
Jamil said that currently, the major contributing sector in the halal industry was the food segment.
"The global food shortage crisis which we are about to face and some nations are experiencing now, has increased the demand for food.
"This has automatically increased the demand for halal food products, thus the halal food market will increase in tandem with the random food demand," he said.
He said there were plenty of untaken spaces for the local halal players to enter as many Muslims in non-Muslim countries did not get the supply of halal products due to the shortage.
"The growing demand is there. At the same time, there is not enough delivery. If we look at the global trade, the halal trade is less than ten per cent as there is lack of supply chain.
"Therefore, I stress the Malaysian companies to join in the growth which will benefit the companies, the country as well as the halal industry," Jamil said.
He said the halal cosmetics market had also gained popularity and awareness, particularly in the Middle East.
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