Halal industry expanding globally, with MIHAS at the forefront
The global halal market, once a niche segment primarily catering to Muslim-majority countries, has evolved into a multi-trillion-dollar industry with widespread appeal across diverse demographics.
According to the State of the Global Islamic Economy Report 2023/24, the Global Islamic Economy is valued at US$6.19 trillion and is expected to reach US$9.05 trillion by 2027.
This burgeoning market is not just limited to traditional consumer goods. In 2022, Malaysia’s halal export value reached RM59.46 billion, with significant contributions from sectors such as food & beverage, halal ingredients, cosmetics and personal care.
The following year, in 2023, the export value was slightly lower at RM53.72 billion but saw growth in the food & beverage sector, indicating a shift in consumer preferences.
As the demand for halal products and services continues to grow, so does the need for platforms that connect producers with global markets.
Enter the Malaysia International Halal Showcase (MIHAS).
SPOTLIGHT ON MIHAS
The Malaysia International Halal Showcase (MIHAS) has long been synonymous with excellence in the halal industry, drawing exhibitors and buyers from across the globe to Malaysia each year.
But now, as the world’s largest halal trade fair gears up for its 20th edition, MATRADE is taking a bold step forward by expanding MIHAS beyond Malaysian shores, with its first international showcase planned for Dubai in November 2024.
This move signals a new chapter not just for MIHAS but for Malaysia’s entire halal industry as it seeks to cement its status as a global leader in the halal economy.
The decision to take MIHAS International is rooted in both ambition and necessity. Over the years, MIHAS has garnered international acclaim, being recognised as a UFI trade event and the World Trade Promotion Organisation Award for its innovative virtual event during the Covid-19 pandemic.
These accomplishments have positioned MIHAS on par with other renowned food and beverage exhibitions like ANUGA, SIAL, and Gulfood.
Director of the Halal, Food & Beverages, and Agro-based Section at MATRADE Yusram Yusup emphasised the importance of this expansion.
“MIHAS has always been about more than just an exhibition. It’s a platform that tells the story of Malaysia’s halal journey. Now, by taking MIHAS to Dubai, we are not only expanding our reach but also bringing the Malaysian halal narrative to a wider audience.”
The decision to choose Dubai as the inaugural international destination is not arbitrary. The Middle East and North Africa (MENA) regions represent a significant portion of the global halal market. Dubai serves as a crucial gateway to these burgeoning markets.
EXPANDING MIHAS
This year’s MIHAS, set to take place in Kuala Lumpur, will serve as a precursor to the Dubai event, offering a glimpse into the innovations and strategies that MATRADE is implementing to keep MIHAS at the forefront of the halal industry.
The 2024 edition will feature a record number of 2,000 booths from 45 countries, nearly double the previous year’s count, and will introduce a new cluster dedicated to halal ingredients.
According to Yusram: “This new cluster will showcase ingredients that enhance the flavour, texture, appearance, and nutritional value of food products.
“The addition of this cluster reflects the growing demand for halal-compliant ingredients in the global market and MATRADE’s commitment to staying ahead of industry trends.”
These additions are part of MATRADE’s broader strategy to enhance the value proposition of MIHAS for both exhibitors and buyers.
NEW PROGRAMMES AND INNOVATIONS
One of the critical innovations at MIHAS this year is the Hosted Buyers Programme, which aims to facilitate more meaningful business engagements between foreign exhibitors and local importers.
Yusram, highlighting the importance of this initiative, said: “We recognise that exhibitors, particularly those from overseas, are not just looking for foot traffic. They want to leave MIHAS with concrete business leads and partnerships.
“The Hosted Buyers Program is designed to meet that need by organising targeted business-to-business meetings that maximise the potential for successful deals.”
Within the halal sector, the emphasis on innovation and strategic growth is indicative of a broader pattern in which technical progress and changing customer tastes are transforming the market.
The halal sector goes beyond food and beverages. It now encompasses pharmaceuticals, cosmetics, fashion, and even tourism. MIHAS has adapted to these changes by offering a platform that showcases the full spectrum of halal products and services while also providing exhibitors with insights into the latest market trends and regulatory developments.
AWARENESS OF TRENDS
The global halal trade market’s rapid growth is driven not only by the increasing population of Muslims worldwide but also by a growing awareness among non-Muslim consumers of the ethical, health, and quality standards associated with halal products.
This expanding consumer base presents both opportunities and challenges for Malaysian businesses, which MATRADE is keen to address through MIHAS.
“Our goal is to position Malaysia as the leading global halal hub, and MIHAS is a critical part of that strategy,
“By expanding MIHAS to new markets, we are enabling Malaysian companies to tap into the enormous potential of the global halal trade,” Yusram explained.
MATRADE is already looking ahead to further international expansions. Markets in China and Europe are on the radar, with plans to bring MIHAS to these regions in the coming years.
In addition to its international expansion, MIHAS 2024 will also see new collaborations and partnerships that will further elevate its profile on the global stage. The event will host the World Islamic Tourism Conference, organised by the Islamic Tourism Centre (ITC), which will explore the intersections between halal products and services and the burgeoning Islamic tourism sector.
Other notable collaborations include the Philippines Investment Forum, Kreasi Mode International from Indonesia, and a gourmet get-together programme led by Big Onion Caterer, all of which will contribute to a richer, more diverse MIHAS experience.
EXCITING OPPORTUNITIES
The upcoming MIHAS@Dubai marks a significant milestone in MATRADE’s journey to elevate Malaysia’s Halal industry on the world stage. But the ambition doesn’t stop there.
By continuously innovating, expanding, and adapting to the evolving needs of the global Halal market, MIHAS is set to not only maintain its position as the world’s leading Halal trade fair but also redefine it.
As Yusram aptly concluded: “MIHAS has always been a showcase of the best that Malaysia’s halal industry has to offer. Now, with our expansion into Dubai and beyond, we are taking that showcase to the world, opening up new opportunities for Malaysian businesses and forging new paths in the global halal economy.”
This strategic expansion of MIHAS is more than just a logistical move; it is a testament to Malaysia’s commitment to the halal industry and a bold statement of intent to the global market.
As MIHAS embarks on this new journey, it carries with it the hopes and ambitions of a nation determined to lead in the ever-growing halal sector. With Dubai as the first step, the world will soon witness the full potential of MIHAS and, by extension, the Malaysian halal industry. – 
@Halal
