KUALA LUMPUR, Nov 16 — Bumiputra entrepreneurs should consider venturing into the halal industry especially in Asean countries, Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said.
Ismail explained that this was because the industry was currently dominated by non-Muslims, despite the Islamic requirement applying only to Muslims.
“About 90 per cent of halal market is dominated by non-Muslims and non-Bumis while halal involves Malay and Bumiputera who are 100 per cent Muslims.
“Those days, it is hard to get halal products in Japan but now they have opened their country and try to bring in more halal products,” he told reporters after attending an engagement programme between MARA and Bumiputra entrepreneurs.
He also said that halal products were also attractive to non-Muslims, whom he said associated the status with hygiene.
The halal industry, which is expected to grow in parallel to the growth of the Muslim population, is worth more than US$2 trillion (RM8.3 trillion).
According to a report by Halal Industry Development Corporation (HDC), the global Muslim population will increase to about 27 per cent of the world’s total population by 2030 or approximately two billion people.
Non-Muslim majority countries like the UK is importing £18 billion (RM92.7 billion) worth of food per annum and the US halal market size is estimated at US$18 billion.
China is also preparing itself to become the net importer of halal food and beverages in the next 10 years.
Malaysia, perceived as the global leader in halal industry, is one of the major exporters of halal F&B and the largest exporter of halal ingredients globally.