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Market Report: Halal Market in ASEAN

17 November 2022

SEA Consulting Service

Market Report: Halal Market in ASEAN

Executive Summary

ASEAN6 makes up 14% of global Halal economy, primarily backed by Indonesia which is dubbed as the country with the world’s largest Muslim population. Resultantly, Indonesia and Malaysia (both predominantly Muslim countries in ASEAN) appear to be the most developed Halal economies in the region followed by Singapore. These three countries have alternatively secured a spot in the top 5 for each of the main Halal Economy subsectors of food, cosmetics and pharmaceuticals, media and entertainment, tourism and modest fashion. The rest of ASEAN6 are relatively less developed but are finding their footing in the Halal economy by increasing their focus on Halal exports.

In a global context and we believe, even in relation to ASEAN6, Halal food is the largest Halal consumer market. However, ASEAN (mainly Indonesia and Malaysia) is becoming well known for the Halal cosmetics sector and the region also stands to benefit from post pandemic changes in tourist preferences tilting towards Halal tourism for Muslims and non-Muslims alike.

In a demographic context, technology has made the young Muslim population more aligned with religious values given the freely available religious findings and sermons on the internet. As a result, 1/3rd of the young population in ASEAN identify as being more religious than their parents were at the same age. The demand from this tech savvy population has opened new and improved opportunities for Halal consumer markets in ASEAN.


Sectors of halal product market featured in the Report




Key Takeaway

  • ASEAN6 make up 14% of the global Halal products market; the Halal food sector dominates consumer expenditure
  • Indonesia and Malaysia are recognized as global players, with Singapore to having a prominence
  • Vietnam and Thailand emerge as a key exporters of halal products; the Philippines aims to benefit from the Halal export sector
  • Tech-savvy young Muslim population drives demand for halal goods, with many using online shopping mediums for purchases
  • Japanese brands and homegrown halal brands are the most preferred in Indonesia and Malaysia
  • halal food and tourism are no longer synonymous with the Muslim community post-pandemic
  • APAC to experience the highest growth in the Halal beauty sector; Indonesia leads once again, driven by young brands
  • global Muslim population to grow faster than other religions in 2050; APAC to maintain the lion’s share despite a small decline
  • Indonesia, Malaysia, Singapore and Thailand appear to have the most regulated Halal markets among ASEAN-6

Table ot Contents

  1. Overview of ASEAN6 Halal Market
  2. Key Trends in ASEAN Halal Sector
  3. Regulatory Overview
  4. Japanese Investments and Expansions in ASEAN Halal Economy


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