Harmonising halal standards

Huge challenge: The lack of an international rulebook for halal standards and certification will hamper the global halal industry.

THE Muslim population reached 1.83 billion out of the world’s 6.5 billion people in 2018, with an average annual birth growth rate of about 1.80%. Undoubtedly, the halal food trade is growing fast at 20% annually.

The value of the global halal product market is estimated at US$4.55 trillion (RM18.97 trillion), excluding Islamic banking, with food and beverages accounting for 67%, pharmaceuticals 22% and personal care and cosmetics 10%. However, the lucrative market of the halal industry is also facing a huge challenge, as various halal standards are being implemented globally.