Many Muslims and non-Muslims typically associate halal with food. This is understandable. However, such misconceptions limit the people’s mind that they must guard themselves away from everything non-Muslims prepare, sell, or do which is perceived as non-halal. Such action then creates a barrier where people become distant from each other just because of their religious beliefs. Nowadays, people are no longer creating differences as they have many things in common.
There are many categories in the halal industry namely food, Islamic finance, travel, modest fashion, pharmaceuticals and cosmetics as well as media and recreational sectors, among others. Food and beverages are more essential and most searched topic for the halal preferred as the halal industry is a growing demand all over the world.
As the largest Islamic Economy pillar by revenue, halal food sector has shown clear signs of maturity with increased private equity investments in the sector, including $30 million invested in United Kingdom’s Janan Meat, and Malaysia’s Dagang Halal undertaking an IPO on the London Stock Exchange. Upgrades in regulations are also occurring, with the introduction of accreditation to oversee certifiers set to reduce complexity and encourage more players to enter the Halal Food industry.
The Islamic finance sector has shown robust growth and increasing sophistication. This has been coupled by the emergence of crowdfunding platforms. However, the sector has been held back by a lack of awareness of Islamic Finance product offerings.
There’s also, halal tourism which continues to broaden its reach with tremendous growth in halal beach resorts, the launch of several dedicated airlines and the launch of the Muslim answer to Airbnb, Bookhalalhomes, and TripAdvisor, Tripfez.
In the modest fashion industry, several retailers and brands such as Dolce & Gabana, Uniqlo and Burberry entering the industry is gaining mainstream interest. There are several notable investments driving the sector forward, including Qatar’s Mayhoola investment fund buying French luxury label Balmain and crowdfunding being used to develop a climate-adapting hijab.
Meanwhile in the halal pharmaceuticals and cosmetics continues to expand as awareness about ingredients rises fostering new product developments, such as permeable nail polish, the development of halal vaccines and new ranges of pharmaceuticals.
Lastly, halal media and recreation is driving a positive reinforcement of Muslims, be it in publishing, new magazines or new offerings such as Muslim Kids TV and notable technological innovations like Quran Academy.
There are many other halal products that need to be considered and carefully deliberated. One must obey by the laws that is required and must apply for a valid halal certification. Halal certificate is an assurance that a particular product has been thoroughly investigated and found