Universitas Islam Negeri Alauddin Makassar Proceedings, Proceedings of the 2nd International Conference on Social and Islamic Studies (ICSIS) 2022

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THE DEVELOPMENT AND OPPORTUNITIES OF THE HALAL INDUSTRY IN INDONESIA
Eni Puji Estuti, Zumrotun Nafiah

Last modified: 2023-01-14

Abstract


Halal is a concept in Islamic economics where there are established rules so that an end result or process is called halal. This study aims to analyze the development and opportunities of the halal industry in Indonesia using quantitative descriptive methods. For Muslims, halal is a must or a condition that must be met for the food consumed, and the services used to the standard of the process. Halal covers various aspects,  including banking, finance, food, tourism, pharmacy, fashion, and media. Indonesia is a country where the majority of the people are Muslim. Logically, the need for halal products and services should be a necessity. Indonesia is the largest market for halal food and beverages. Based on a report from the State of Global Islamic Economy Report 2022, Muslims spend US$2 trillion by 2021 across industries. Year- on-year growth of 8.9% from 2020, with Islamic finance in 2021, up 7.8%, from 2020. The study found that every year the halal industry develops, and this cannot be separated from the role of the government in regulating halal regulations.


Keywords


Halal industry; economic; Islamic economy

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