Global Halal Economy

MIHAS 2022 and Halal Sectors in Malaysia

by Editor | Jul 8, 2022 | Halal Food, Halal Industries, Halal Medicine

The halal industry is rapidly growing across the globe. Rather excitingly, Malaysia is a major player within the industry and looks set to further strengthen its position in the coming years.

According to the State of the Global Islamic Economy (SGIE) Report 2020/2021,Malaysia is ranked 1st in the sectors of Halal Food, Muslim-Friendly Travel, cosmetics, and pharmaceuticals.

Malaysia’s strong performance in these sectors along with being a top Muslim-friendly destination among the Organisation of Islamic Cooperation (OIC) countries augurs well for the nation’s economic revival post-pandemic.

Key areas for growth

Malaysia External Trade Development Corporation (MATRADE) hopes to spearhead the country’s efforts in the halal industry. The Malaysia International Halal Showcase (MIHAS), which concluded its 17th edition in December 2021 is one of the key pioneering projects that MATRADE has initiated towards realising this aim.

Themed ‘Empowering Halal, Tomorrow, Together’ and with the aim of positioning Malaysia as the world’s main halal hub, MIHAS 2021 prevailed in its efforts, as testified by the strong performance by all the exhibitors especially Malaysian exporters.

MATRADE identified twelve key pillars that collectively can represent the global halal industry, all of which were showcased at the event. The event connected fellow exhibitors with local and international manufacturers, entrepreneurs, and agents as well as event visitors and members of the public.

The 12 pillars showcased were:

Food and beverage
Education
Pharmaceuticals
Services and enablers
Franchise
Modest fashion
Islamic finance
Cosmetics and personal care
Media and recreation
Muslim friendly travel
e-commerce and
Food technology

According to the SGIE report cited earlier, approximately 1.9 billion Muslims spent a total of US$ 2.02 trillion in 2019 on the five sectors of food, fashion, pharmaceutical, media/recreation, and travel.

Halal Food & Beverage

The department of statistics Malaysia & JAKIM estimates Malaysia’s halal F&B sector export value increased by 10.4% from the previous year to RM22.0 billion in 2019. This is largely due to the strength of the Malaysia’s processed food sector, which continues to expand and strengthen its manufacturing capabilities, producing products that are attuned to global standards.

Food Technology

The 2021 Budget covered various initiatives that focused on technology deployment and enhancement in the halal industry. Some of the areas that are given focus on including the technology required to ensure food traceability to verify authenticity of the products, including its ingredients to ensure authenticity of the halal food and beverage.

Technologies such as serialisation, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT) and blockchain technology along with food science are being used as part of the Malaysian government’s policy to be globally competitive.

Modest Fashion

Modest or Islamic fashion is no longer just a movement but a billion-dollar industry that has gone global. According to the SGIE report, this sector currently has a value of US$277 billion.

MATRADE has been an instrumental figure behind the scenes in the modest fashion industry by regularly promoting homegrown businesses and connecting them to potential buyers and fashion designers globally. It also facilitates the participation of Malaysian fashion designers in industry events such as Fashion Weeks to grow brand awareness and develop market access.

Cosmetics & Personal Care

The halal cosmetics and personal care sector in Malaysia is gaining strong traction amongst global industry players and consumers. Halal cosmetics and personal care products are also sought after by non-Muslims, as many seek natural, chemical-free, and safe products.

Malaysia is also ranked first in the cosmetics and pharmaceuticals sector, according to the SGIE report. With the halal cosmetics and personal care sector in Malaysia showing prospective potential, many more Malaysian SMEs are emerging and making a name for themselves in the market.

Pharmaceuticals

Modern medicine may contain ingredients that are non-halal or manufactured in a way that does not align with Islamic values. This situation opens a multitude of doors for the halal pharmaceutical industry.

Malaysia is the trailblazer in the certified halal pharmaceutical industry and with MIHAS 2021 serving as a platform that connects the nation to the world, greater opportunity arises for Malaysian pharmaceutical manufacturers to be more competitive internationally.

Malaysia is ranked first in the list of best Muslim-friendly holiday destinations according to the Master Card-Crescent Rating Global Muslim Travel Index (GMTI) 2021.

Taking full advantage of this is the Islamic Tourism Centre (ITC) that collaborated with MIHAS 2021 to organise a forum on Muslim-friendly tourism and hospitality. The forum presented keynote speeches, interactive panel discussions, and specialist presentations that explore the potentials to emerge in the Muslim travel market as well as perspectives from industry leaders.

Among the 12 pillars, sectors that recorded the highest total sales during the virtual exhibition were Islamic financial services, food & beverage, pharmaceuticals, cosmetics, and personal care. MATRADE aims for MIHAS 2022 to achieve more revenue and exposure by integrating a hybrid format of both physical and virtual configurations.

17th MIHAS to Spur Innovation and Sustainable Growth for the Global Halal Economy

by admin | May 25, 2021 | Business Summit, Events, Halal Food, Halal Industries, Halal Medicine, Social Round-up

MIHAS, a high-value Halal sourcing platform, set to cement Malaysia’s leading position in the global Halal economy

Kuala Lumpur: The Malaysia External Trade Development Corporation (MATRADE) has announced the return of the 17th Malaysia International Halal Showcase (MIHAS), which will take place from 9th to 12th September 2021, at the Malaysia International Trade and Exhibition Centre (MITEC), Kuala Lumpur. Organised by MATRADE under the patronage of Ministry of International Trade and Industry of Malaysia, MIHAS is the largest Halal trade event of its kind in the world.

Making the announcement, MATRADE’s Chief Executive Officer, Dato’ Wan Latiff Wan Musa, highlighted that Malaysia has long established a leading position as a global Halal player. “We also see opportunities driven by accelerated digitisation and changing consumer behaviours in the new normal and new world economy. The 17th MIHAS will place special emphasis on the agenda of helping local and international players look to innovation and sustainable initiatives to spearhead steady growth for the Halal economy.”

Aptly themed, “Empowering Halal, Tomorrow, Together”, the 17th MIHAS will serve as a timely opportunity for the industry to empower themselves in accelerating future growth through partnership, cooperation and collaboration. The Covid-19 global pandemic has shifted mindsets and ways of doing business which requires new business models. MIHAS will act as the overarching umbrella platform for halal businesses to cultivate resiliency, creativity and adaptability to succeed in a ‘new normal’ business landscape.

Additionally, this marquee Halal trade event aims to further expand Malaysia’s Halal economy agenda, steering the country towards the era of Industry 4.0 and fortify its role as the global Halal hub.

“As the largest gathering of Halal manufacturers, service providers, inventors, policymakers, financiers and investors, MIHAS is a robust marketplace for both international and local players to seize opportunities beyond Halal food including Halal pharmaceutical, medical devices, finance, modest fashion, personal care and cosmetics, green technologies and even Muslim-friendly tourism. MATRADE is committed to providing Malaysian companies greater access to the international markets,” added Dato’ Wan Latiff.

Ranked as the world’s largest Halal trade fair, MIHAS has hosted over 404,000 participants including exhibitors and visitors from over 90 countries since first started in 2004

In addition, MATRADE announced the appointment of Qube Integrated Malaysia Sdn Bhd as the official event organiser for MIHAS for a period of five years, from 2021 to 2025.

Commenting on the appointment, Richard Teo, Group Managing Director of Qube Integrated Malaysia, said, “Malaysia is well on its way to becoming the heart of the global Halal economy and Qube Integrated Malaysia is proud to be given the opportunity to support MATRADE in strengthening Malaysia’s leadership in the Halal economy to the world. We are backed by a team of passionate event specialists dedicated to curate a platform for businesses in the Halal sector, from heavy-weight players, entrepreneurs, investors to young startups”.

The main highlights of the 17th MIHAS are interactive displays, live demos, workshops, online networking sessions and a series of business matching opportunities to serve its role as a high-value Halal sourcing platform that helps existing businesses expand into new areas, and to nurture young players by focusing on sustainable partnerships.

The Islamic Economy is a two-trillion-dollar market opportunity across a range of lifestyle products and services. It is projected to grow to USD3.2 trillion by 2024.

MIHAS has successfully attracted the attendance of over 404,000 participants including exhibitors, visitors and Halal services companies from more than 90 countries since its inception in 2004. The event has generated over RM17.2 billion in business leads since it first started in 2004.