Halal-certified food products and their strict quality standards are changing customer preferences, forcing the market to adapt or be left behind. In an omnichannel environment, digital B2B marketplaces like DagangHalal.com are serving the growing Halal market.
Driven by the increasing number of Muslim consumers worldwide, the lucrative Halal food market has grown steadily over the last 5 years. In 2020, the global Halal food and beverages size was USD 1.96 trillion. It grew to from USD 2.09 trillion in 2021 and is expected to hit a whopping USD 3.27 trillion by 2028, exhibiting a CAGR of 6.56% during the forecast period of 2021-2028. (*Source: Statista)
Towards this development being aimed by the Malaysian government is an attempt to become a global Halal hub within the Organization of Islamic Cooperation (OIC) nations, where its robust determination can now no longer be understated. In 2017, Malaysia's exports from Halal food manufacturers to other OIC countries amounted to 2.56 percent (*Source: Statista).
Attributed to the large religious and cultural population of the region that demands Halal food, Asia Pacific was the leading market for Halal food in 2020 and is expected to grow exponentially. In fact, Malaysia’s close proximity to large Muslim communities within China, Indonesia, the Philippines, and the Middle East offers strong export opportunities. Also, the nation’s globally accepted Halal accreditation's make it the perfect launch pad for trade. Overall, with 2.2 billion Muslim consumers globally, the market for Halal foods is growing rapidly, indicating the inclination of other communities' consumers toward Halal foods as well.
With growing technological advancements and increase demand, such B2B e-marketplaces are growing swiftly, whilst progressing towards a bigger impact. In 2021, the global B2B e-marketplace was at a market value of USD 8,523.3 Billion and projection shows that it is to hit USD 18, 771.4 billion by 2027. Indicating that the market is expected to grow at a CAGR of 14.1% from 2022 to 2027 (*Source Statista)
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As such, it is no surprise that Halal manufacturers and distributors are embracing IoT technology as digitization of the supply chain becomes a prerequisite to remaining competitive in the global market. The arrival of 5G and the ever-expanding internet penetration rate of many countries (90% in Malaysia) have enabled Halal manufacturers within the digital B2B marketplace to play a crucial role in allowing upstream and downstream activities.
One such B2B e-marketplace that is successfully propelling Malaysia’s Halal manufacturers into the global market is DagangHalal.com. With the advanced improvements of the Halal food industry’s specializing in Islamic compliance performance in mind, the company has spared no effort in expanding its downstream activity.
DagangHalal is also an annual participant in the MIHAS trade show hosted by the Ministry of International Trade and Industry (MITI) and organized by the Malaysia External Trade Development Corporation (MATRADE). A prominent Halal trade fair, this event is a valuable platform to connect to myriad local and international Halal manufacturers, sellers, and buyers. As a Halal e-marketplace, DagangHalal.com seeks to build on the quantity of its suppliers as new products come into the market.
DagangHalal was once again highlighted in Food & Hotel Asia (FHA) Singapore Expo from the 5th – the 8th of September, 2022. Concurrently, it also featured a virtual booth at MIHAS 2022, one of the world’s largest Halal trade fairs, from the 7th to the 10th of September, 2022. The FHA Singapore 2022 was attended by trade professionals hailing from the Asia Pacific food and hospitality industry.
One such specialty Halal food manufacturer in Malaysia, Dr. Aishah Solutions Sdn Bhd, has made a positive impact on both the local and international scene. Dr. Aishah’s Granola Asian Super-foods have been widely embraced by the Japanese community – even being showcased by their local chefs in premium hotels and restaurants. A favourite across the nation, Dr. Aishah sees the upside in retailing her healthy energy snacks to the growing segment of Muslims across the globe in search of Halal alternatives to their favourite granola bars.
Brands like KI.TA and BlackMo have also earned their place in the hearts of consumers with their brands of instant wonton noodles and local coffee, respectively, unique to Pacific Asia. All three brands have been featured in this year's FHA and MIHAS showcase as long-standing members of DagangHalal’s B2B Halal e-marketplace.
DagangHalal.com is one of the world's largest e-Marketplaces, with more than 4,300 suppliers and 13,000 registered buyers from 85 countries featuring only Halal-certified products from global Halal Certification Bodies. By partnering with global distributors with established retail networks and corporate accounts all around the world, suppliers meeting the oversea consumers’ demand are able to sell to international markets. Tap into DagangHalal.com today to kick-start your journey into the $3.27 trillion USD* global Halal industry.
(*Source: Fortune Business Insights, 2020)
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