Halal economy is the new term to describe the convergence of Halal industry and Islamic finance which comes from one source- Islam. Muslim consumerism is valued at an astounding 2.1 trillion USD and the numbers are expected to grow.
By the year 2050 global population of Muslims will increase from a current 1.8 billion to 2.8 billion. Halal has been accepted global as a product of hygiene, quality, pure, safety and clean.
What is Halal Certification?
Halal certification is becoming mainstream in food industry as a safety measure to ensure the demand for producing and packaging food processed according to Islamic dietary laws using Halal Chicken, Mutton, Beef and other meat products is growing.
Its commencement began in the mid 60’s when the Muslims of the United States contacted the Muslim food and technical experts. A practical safety measure for Muslims living in the non Muslim societies needed to preserve their identity as a Muslim and fulfill their religious obligation, it became a useful tool to guarantee that the food products in non-muslim countries are acceptable in the Muslim world.
When globalization became a direction of world trading system, which removed barriers from one country to another with no food safety device in place for the Muslim community. Jewish people kept enforcing their religious requirements on products to be acceptable to them through certification and accreditation called “Kosher”.
Halal certification process consists of three P’s (prepared, processed and packed) also transportation and storage according to the Islamic principles.
According to laws the food must not contain forbidden substances and ingredients such as pork meat, blood, alcohol and other intoxicants. Food audits must be performed regularly by certified personnel who ensures all protocols of Inspection and certification of food safety and food hygiene is being followed.
Benefits of Halal Certification
Certification logo on the packaging items assures Muslim customers that food is served halal.
An overall standard of hygiene and sanitation is fervently observed in restaurants. Furthermore very stringent food safety rules make it popular amongst non Muslim customers as well.
Regulatory requirements of food exports are maintained resulting in market increase of halal food products across the globe.
Halal food industry
Pakistan has an immense potential in the billion dollar halal food industry share market because Pakistan is an agriculture state with an estimate of 169 million heads of quality livestock plus 74 million cattle and buffaloes and another 95 million sheeps and goats.
This count adds value to the halal products and attracts multi-state Muslim buyers to trade with Pakistan. Pakistan follows the proper accurate procedure of slaughtering(zibah) therefore the demand of halal product in this region is greatly appreciated. Standardized packaging and processing will boost the market and generate handsome revenue. Pakistan National Accreditation Council was formed which is responsible for implementation of regulations controlling halal certification. Pakistan may supersede its competitors like Malaysia and Indonesia as a major halal food producing country with its vast muslim population being evident to other muslim consumers.