The Halal food market (an industry that provides products and services that meet the standards of the Muslim community) is growing rapidly across all continents. Thailand is one of the countries that is considered to have many opportunities to develop this product line due to its many quality agricultural and food exports.
The global Halal industry, which encompasses a wide range of products and services such as food, cosmetics, fashion and tourism, is currently a $2.3 trillion market. It is expected to grow to $2.8 trillion by 2025 as the world's Muslim population continues to grow.
Southeast Asia - South Asia - South Pacific is a potential export market for Halal products, with a Muslim population and Halal food users of about 860 million people. This is the largest Halal food consumption area in the world with about 470 billion USD, of which Southeast Asia is 230 billion USD, South Asia - South Pacific is 238 billion USD.
With the aim of developing the Halal industry, the Ministry of Industry of Thailand has established the Thailand Halal Industry Center (THIC) to realize the Government 's ambition of making Thailand a regional leader in the production and export of Halal products. According to Industry Minister Pimpatra Wichaikul, in addition to establishing the THIC, Thailand will also improve the standards and capabilities of domestic Halal entrepreneurs. The Ministry will also promote export expansion, including to potential global markets.
The Thai cabinet has previously approved an initiative to make Thailand a halal hub in Southeast Asia by 2028, contributing an additional 1.2% (US$1.49 billion) to the country’s GDP. The food and beverage sector currently accounts for the largest share, accounting for about 63% of the total market value. Prime Minister Srettha Thavisin signed an order to establish the National Halal Industry Committee (NHIC) and serve as its chairperson, with Ms. Nalinee Taveesin, the Thai Trade Representative, in charge of developing the halal industry, and Industry Minister Pimpatra as its vice chairperson.
The Thai government aims to develop Thailand into a Halal product hub by 2028, focusing on five product categories: food, fashion, pharmaceuticals - herbal products, cocoa, services and tourism. NHIC is tasked with formulating policies and development strategies for Halal products, integrating Thailand's unique “soft power”, coordinating policies, measures and plans to effectively promote the development of the country's Halal industry.
The value of Thailand’s halal food exports in the first 11 months of 2023 was 217 billion baht ($5.87 billion), up 2.6% year-on-year. The bulk of these exports were in the natural halal food category, including rice, grains and sugarcane. There are 15,043 halal food manufacturers and more than 3,500 halal food establishments in Thailand. The initiatives will be implemented through key measures such as boosting demand, supporting supply and improving environmental standards, as well as promoting investment in the halal industry.
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Source: https://www.sggp.org.vn/thai-lan-tang-toc-phat-trien-cong-nghiep-halal-post742335.html
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