Shafaqna English- The Halal industry has evolved from a niche religious concern into a phenomenon that connects with economic development and geopolitical strategy. Malaysia well-positioned to consolidate global leadership on Halal branding and governance.
What began as a mechanism to ensure compliance with Islamic dietary laws has expanded into a global industry encompassing sectors such as pharmaceuticals, cosmetics, logistics, and tourism. In 2021, the global market for Halal food was valued at $1,978 billion, and is expected to be worth $3,907.7 billion by 2027.
The Halal industry holds such significance for Malaysia that even under pressure from the United States with regards to halal import restrictions in ongoing trade talks, Malaysia remains steadfast in upholding its Halal standards. This unwavering stance underscores how deeply ingrained the Halal policy is within Malaysia’s economic and cultural framework.
Source: Eurasia Review