The Future of Halal in a Digital but Fragmented World

The halal industry is much more than just food on your plate. It encompasses an entire ecosystem, from food production to consumerism. Apart from food, there are also sectors such as Islamic finance, modest fashion, media and recreation, Muslim-friendly travel, pharmaceutical, and cosmetics.

As of 2023, it is estimated that there are over 2.01 billion Muslims in the world which comprises 25% of the world population. In ASEAN, that’s 240 million Muslims (42% of ASEAN). With the Muslim population rapidly expanding, comes an increased demand for halal products worldwide.

Although it is a booming market, most of the top exporting countries of Halal products globally are non-Muslim states. Whereas, if we look at the biggest importer, specifically in halal-certified food, Saudi Arabia comes in first place, followed by Malaysia, while UAE, Indonesia and Egypt occupy the third, the fourth and the fifth position respectively.

A vast majority of Muslims consume and use halal products. Yet, we still do not find any significant Muslim brands effectively catering to a larger global audience. This should be a wake-up call for Muslim countries to dive into becoming “halal creators” too, instead of only being consumers.

Join the Biggest Halal Event in northern Malaysia!

The Penang International Halal Expo and Conference (PIHEC) 2023 happening from June 23 to June 25 is a premier event that would be focusing on the Halal supply chain of Southeast Asia, and the region’s trade partners worldwide.

The international halal trade show would consist of 5-panel sessions, several parallel programs and a trade expo focusing on 3 critical sectors:

• Halal Trade and Travel

• Modest Fashion 

• Halal Tech

  

CEO of Penang Halal International, Fazil Irwan Som said the conference, among others, would bring together some of the best Halal products and services in Malaysia as well as from other countries like China, Indonesia, Philippines, Vietnam and many more. "The 12th edition of PIHEC, to be held at the Setia SPICE Convention Centre and Arena, will certainly bring a new perspective on the halal sector. There are 354 booths from various business sectors in the halal industry and is expected to receive more than 20,000 visitors,” said Fazil. 

Expand your business, engage and network at PIHEC 2023!

“Entrepreneurs who participate in this expo will also be able to maximise their network through the various business matching programs and identify potential new business partners. We welcome visitors from the Southeast Asian region and other parts of the world to PIHEC 2023. In order to reach the global halal economy target of  US$4.96 trillion (RM22.34 trillion) by 2030, we must discuss how to revitalise and rejuvenate the Halal industry, in light of the massive geopolitical changes and crippling inflation happening across the globe,” said Fazil. 

Below are some of the panel sessions happening on the 23rd June 2023

Catalysing Halal Growth in a Fragmented World

As the world faces a looming recession, efforts in trade liberalization might be under threat as nations become increasingly fragmented due to political turmoil, inflation, and trade tensions, leaving them to deal with lingering unemployment and shrinking demand. This inevitably affects free trade agreements such as the recently ratified RCEP and CPTPP, posing a risk to international trade. Despite Halal's positive trajectory in recent years, the recession might hamper its potential growth. What can ensure Halal's positive growth despite these tumultuous times? What new growth areas should Halal venture into? Find out your answer in this discussion. 

Enhancing Logistics Resilience in ASEAN

Landmark FTAs such as the RCEP and CPTPP are poised to bring tremendous benefits to trade volume and new opportunities. With the expected trade intensity comes huge expectations for the logistics sector, especially serving the halal sector which makes up 42% of the ASEAN market. What structural improvements can be made in the logistics sector? Find out in this panel discussion.

Future of Tech Innovations in the Halal Sector

“Although the Halal industry is a booming global market, it is still very much a traditional industry, running on “pen and paper” frameworks and standard food production systems. The only way it can exponentially grow to its target of USD4.96 trillion market size, is to adopt digital innovations thereby increasing efficiency in productivity,” said Fazil. Visitors are welcome to tune in to the conversation on “Future of Tech Innovations in the Halal Sector” with important digital economy players in the Halal space.

Inspirasi Khadijah - Role of Women in the Halal Sector

Women play an increasingly pivotal role in critical halal sectors such as Halal Tech and Modest Fashion, which are some of the most rapidly developing sectors in the global halal industry.

Yet more needs to be done to ensure women's participation up the value chain in these sectors. Find out some of the government initiatives and business programs that can help promote more women's participation in this discussion.

Apart from these panel discussions, there are also business programmes at the main stage of the expo such as sessions on exporting to Thailand and the Philippines. There are also corporate and product pitching sessions, seminars on halal certification, meet and greet sessions and many more.

If you are interested in expanding your business or perhaps you would like to gain some insights on the halal industry, do register as a participant for PIHEC 2023 for free now! For more information, you can visit their social media pages: Facebook, Instagram and Youtube or contact +604-262 5444 / email at [email protected].