In an effort to strengthen trade relations and expand the reach of Thai halal products into the Indonesian market, Thailand is hosting the “2024 Thailand Halal Product Business Matching” on September 3, 2024, at the Hotel Indonesia Kempinski, Jakarta.
This event, initiated by the Thai Trade Center (TTC) Jakarta under the Department of International Trade Promotion (DITP), Ministry of Commerce, Thailand Government, aims to bolster trade ties between Thailand and Indonesia and broaden the expansion of Thai halal products in Indonesia, one of the largest halal markets globally.
“The event is designed to help Thai halal entrepreneurs explore new opportunities in Indonesia. We aim to encourage them to expand their businesses, build strong networks between Thailand and Indonesia, and promote the image of Thai halal products here. Additionally, it provides an opportunity to conduct a market survey in Jakarta and directly assess the potential and needs of local consumers,” said Mrs. Hataichanok Sivara, Director of the Thai Trade Center Jakarta.
The term “halal” means ‘permissible’ in Arabic. For food to be considered halal, it must not contain blood or alcohol, must be slaughtered in accordance with Islamic law, and must come from permitted animals such as cattle and poultry, not prohibited ones like pigs or carnivores. It must also be processed, prepared, and stored using equipment cleaned according to Islamic law.
Why is the Halal Market Growing Rapidly?
The halal market is expanding beyond food and beverages to include cosmetics, personal care products, pharmaceuticals, and services such as tourism, banking, finance, and logistics. High global demand drives many consumers to seek certified halal products, while numerous producers strive to obtain certification, a complex process as each country has its own Islamic authority for official certification.
Halal industries are also growing in markets outside the Middle East, particularly in Asia. For instance, China is enhancing trade with Organization of Islamic Cooperation (OIC) member countries through the “One Belt One Road” initiative.
Moreover, international markets benefit from halal products due to the consistent demand from Muslim communities in various countries, reinforced by high demand from growing Muslim populations, as seen in Indonesia with stricter halal certification regulations.
The halal industry is currently one of the fastest-growing sectors globally, with Asia playing a dominant role. Countries such as Malaysia, Indonesia, and the United Arab Emirates contribute over 60% of the global halal market. Malaysia is particularly recognized as a leader in halal certification and a major hub for halal products, with its halal market estimated to be worth over USD 68 billion in 2023.
In South Asia, countries like India and Pakistan also show significant growth, with halal food consumption in Pakistan reaching USD 47 billion in 2022.
