Halal Market Economy Opportunities And Challenges

The Islamic Halal Industry is at the cusp of major growth and widespread recognition, having gained traction as Muslims assert their religiosity and traditional values. Muslims spent $2.02 trillion in 2019 across the food, pharmaceutical, cosmetics, fashion, travel and media/recreation sectors, all of which are impacted by Islamic faith-inspired ethical consumption needs.. This book provides a deep understanding of challenges and opportunities of the halal market economy .

The global halal market has emerged as a new growth sector in the global economy and is creating a strong presence in developed countries. The most promising halal markets are the fast-growing economies of the Asia, Middle East, Europe and the Americas. With a growing consumer base, and increasing growth in many parts of the world, the industry is set to become a competitive force in world international trade. The halal industry has now expanded well beyond the food sector further widening the economic potentials for halal. This book will help to deepen understanding of the concept of Halal so as to familiarize non-Muslims about Halal principles and products.

The global halal market has emerged as a new growth sector in the global economy and is creating a strong presence in developed countries. The most promising halal markets are the fast-growing economies of the Asia, Middle East, Europe and the Americas. With a growing consumer base, and increasing growth in many parts of the world, the industry is set to become a competitive force in world international trade. The halal industry has now expanded well beyond the food sector further widening the economic potentials for halal. This book will help to deepen understanding of the concept of Halal so as to familiarize non-Muslims about Halal principles and products.

The global halal market has emerged as a new growth sector in the global economy and is creating a strong presence in developed countries. The halal industry has now expanded well beyond the food sector further widening the economic potentials for halal. This book will help to deepen understanding of the concept of Halal to familiarize non-Muslims about Halal principles and products. The book also explores the concept of Halal industry along with the components which constitute the industry. It provides worldwide examples of some of the current best practices. The opportunities and challenges in developing and Halal industry are also discussed.

The global halal market has emerged as a new growth sector in the global economy and is creating a strong presence in developed countries. The halal industry has now expanded well beyond the food sector further widening the economic potentials for halal. This book explores the concept of Halal industry along with the components which constitute the industry. It provides worldwide examples of some of the current best practices. The opportunities and challenges in developing and Halal industry are also discussed.

The global halal market has emerged as a new growth sector in the global economy and is creating a strong presence in developed countries. The halal industry has now expanded well beyond the food sector further widening the economic potentials for halal. This paper will help to deepen understanding of the concept of Halal principles and products.

The global halal market has emerged as a new growth sector in the global economy and is creating a strong presence in developed countries. The halal industry has now expanded well beyond the food sector further widening the economic potentials for halal. This book aims to provide an introduction to applying Blockchain for halal supply chains and outline some potential areas for consideration for the all sectors of the halal industry. The book will help to deepen understanding of the concepts of Blockchain technology and halal industry and explores the concept of Halal industry along with the components which constitute the industry. The book Provides and discusses existing halal supply chains usage of Blockchains... The opportunities and challenges in developing and Halal industry are also discussed...

The increasing demand for halal products, including goods and services, every year, especially for food and beverages, has resulted in a growing need for products with halal guarantees. Along with the increasing trend of the global demand, it has resulted in an increase in producers of halal food and beverages in both Muslim and non-Muslim countries. In addition the demand for halal tourism is also increasing. Indonesia is one of the largest Muslim countries in the world. However, there are still many Muslim consumer actors and Muslim producer actors who do not yet have an awareness of the importance of complying with the provisions of Islamic law in consuming and producing goods and services. There are still many restaurants and hotels that serve food and drinks that are not certified halal. There are still many food, medicinal and cosmetic products that are not halal certified. But now many secular countries such as France, Canada, Australia, the United States, Britain are also halal certified with the aim of meeting the Muslim demand for halal products for food and beverage, including for halal tourism. Starting from the development of the halal industry both in the fields of food, beverages and services, an International Seminar was held, which provides a more complete understanding of halal products, current halal developments and can serve as motivation to produce halal products, providing research results from the topic of halal development. The international seminar, entitled International Conference on Halal Development, listed speakers from several countries able to provide an overview of the halal development of several countries. This book contains a selection of papers from the conference.

This book serves as a valuable resource for Islamic entrepreneurship researchers, Halal scholars, Islamic finance professionals, Halal advocates, and Halal business model consultants in the fast-changing global economy. The thematic focus is not only on Islamic and halal entrepreneurship but also on halal production and consumption, ethics and impact investing in Islamic entrepreneurship, Shariah principles guiding business model innovation and utilisation of disruptive technologies (such as crowdfunding for startups, bitcoin, digital ventures, cryptocurrency, blockchain, among others), Islamic entrepreneurship and SDGs, halalisation and sustainability issues, and emergence of Islamic-Fintech in Muslim majority nations and nations with plural economic systems, including the interface of Islamic and halal entrepreneurship with science, technology, engineering, and mathematics (STEM). At the moment, the working knowledge about Islamic and halal entrepreneurship is at its infancy among Islamic finance professionals, halal consultants, academic researchers, and students nursing the ambition of going into these two fields. Universities, Islamic training academies, and centres are also ill equipped to enrich Islamic and halal curricula with principles and conventional models. One of the proactive ways of breaking financial exclusion, social inequality, and social exclusion caused by apathy and avoidance of Riba, Maysir, and Gharar is by recognising, embracing, and promoting Islamic and halal entrepreneurship among the excluded Muslims and lovers of ethical business models. Overall, this book aims to promote better understanding of Islamic and Halal entrepreneurship in order to assist academics, researchers, practitioners, consultants, and policymakers to improve the growth of Islamic startups and small and medium enterprises (SMEs) by improving social inclusion and financial inclusion and accelerating the attainment of SDG 8 and SDG12.