The Halal Food Business: A Goldmine of Opportunities

by Isha

written by Isha 337 views 3 minutes read

The Halal Food Business: A Goldmine of Opportunities

The Halal Market: A Global Phenomenon

The “Halal Food Business” is no longer a niche. It’s a global phenomenon, a burgeoning industry that’s growing faster than you can say “Bismillah”. According to the State of the Global Islamic Economy Report, the global Halal food and beverage market is expected to reach a whopping $1.9 trillion by 2023 [1].

The Quran, the holy book of Islam, provides clear guidelines on what is permissible (Halal) and what is not (Haram). In Surah Al-Baqarah (2:168), it states, “O mankind, eat from whatever is on earth [that is] lawful and good and do not follow the footsteps of Satan. Indeed, he is to you a clear enemy.” This verse underlines the importance of consuming what is Halal and wholesome [2].

Halal Food Business: A Pathway to Success

Running a successful Halal food business isn’t just about slapping a Halal certification on your restaurant door. It’s about understanding the nuances of the market, the cultural sensitivities, and the diverse culinary preferences of your Muslim customers [3].

For instance, in Taiwan, a country with a Muslim population of just about 60,000, the Halal food industry is booming. Taiwanese businesses are catering not just to the local Muslim population but also to the increasing number of Muslim tourists. They’re offering a range of Halal Taiwanese street food, like Halal beef noodles and bubble tea, ensuring that Muslim visitors don’t miss out on the Taiwanese food experience [4].

Halal Food Business: A Pathway to Success — Image by tirachardz on Freepik

Strategies for Success in the Halal Food Business

To succeed in the Halal food business, you need to have a clear strategy. A study conducted on Halal restaurants in Bangkok revealed some key strategies that could be applied universally [5].

Offensive Strategies: This involves niche marketing, establishing a Halal restaurant entrepreneur association, and leveraging online marketing platforms.
Reformed Strategies: Keeping up with changing technologies and trends, and creating partnership promotion programs with other tourism businesses.
Preventive Strategies: Learning how to cook other types of food that are popular and extending the target group to non-Muslim customers.
Defensive Strategies: Establishing a Halal food image of various cuisines and clean food.

The Impact of the Pandemic on the Halal Food Business

The COVID-19 pandemic has undoubtedly affected the Halal food business. However, it has also opened up new opportunities. Many Halal restaurants have pivoted to offering food delivery services coupled with sales promotion programs. This has not only helped them survive the pandemic but also reach a wider customer base [6].

Conclusion

The Halal food business is a goldmine of opportunities. With the right strategies and a deep understanding of the market, businesses can tap into this growing market and achieve success.