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Indonesia's Halal Industry eyes middle-class Muslims to push growth

With the largest Muslim population in the world, Indonesia is a potential market for the Sharia Economy and Finance

Wednesday March 3, 2021 11:08 PM, UNA-OIC

Halal Market

Jakarta: Indonesia's halal industry is eyeing the vast market of middle-class Muslims, with high awareness of the halal issue, Indonesian Vice President Ma'ruf Amin stated.

"Middle-class Muslims, with high halal awareness, hold prospects for growth of the halal industry, including halal food, halal fashion, halal healthcare, halal travel, and others," Amin said Wednesday during a national webinar organized here by the Sunan Ampel Islamic University (UIN) Surabaya.

With the largest Muslim population in the world, Indonesia is a potential market for the Sharia Economy and Finance, the vice president noted.

However, the country had yet to reap the benefits of this potential and continues to be the largest consumer of world halal products, he remarked.

Also Read | Islam is fastest growing religion so does Halal Food Market: Economists

"To meet the domestic demand for halal food, we have to import, let alone become a global player," Amin said.

Stakeholders asked to boost productivity

In 2018, Indonesia had spent US$173 billion to buy halal food and beverages, or equal to 12.6 percent of the world's halal product market share.

The vice president has appealed to all stakeholders in the halal industry to boost productivity and make Indonesia among the largest halal producers in the world.

Amin envisages that the world halal market would continue to increase, with the global Muslim population expected to reach 2.2 billion in 2030.

"It is time for Indonesia to build and strengthen its halal industry; with the short-term target to meet the domestic halal demand and for the longer term to become a global player through increased exports," he said.


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