"Increasing demand for halal foods is an opportunity for Indonesian food and beverage industry actors to expand their business, and the recent rise in global Muslim fashion trends is an opportunity for the textile industry to innovate and optimize production," Minister Kartasasmita said while officiating the 2021 Indonesia Halal Industry Award virtually here on Wednesday.
Indonesia has diverse and distinct natural resources that can be harnessed to elevate product value and develop new innovative products for the halal pharmacy and cosmetics industry, the minister said.
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The domestic and global market potential for Islamic economic and finance industries is also increasing, he noted.
According to the 2020/2021 Global Islamic Economy Report published by global Islamic economic institution Salaam Gateway, transactions of around US$2.20 trillion were recorded in global Muslim foods, pharmacy, cosmetics, fashion, tourism, and other Islamic sector markets, Kartasasmita said.
The total transaction recorded in the latest report showed an increase of 3.2 percent compared with the 2018 data, he added.
The increasing global Muslim population is playing a major role in the global Muslim market development, the minister noted.
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"The Pew Research Center's Forum on Religion and Public Life also recorded around 1.9 billion global population professed Islamic faith in 2020, and in 2030, the number is projected to increase to 2.2 billion people, equal to 26.5 percent of the total global population at that time," Kartasasmita informed.
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An increase in the global market potential for the halal industry would follow the increase of the global Muslim population, he said.
"With our current potential, Indonesia should not only become the largest halal product consumer, but we should strive to become the largest halal product producer as well," Kartasasmita remarked.
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