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The Expanding Scope and Scale of Halal market توسّع نطاق وحجم سوق الحلال

Author

Listed:
  • Mudassar Ali Baig

    (Research Fellow, College of Islamic Studies, Hamad Bin Khalifa University, Doha, Qatar)

  • Syed Nazim Ali

    (Director, Research Division, College of Islamic Studies, Hamad Bin Khalifa, Doha, Qatar)

Abstract

During the last couple of decades, the concept of halal markets has become ubiquitous covering sectors ranging from tourism and hospitality, fashion and clothing, pharmaceuticals and hospitals, to biotechnology and cryptocurrencies. Muslim immigration into the western world has played a crucial role in the development of this market. Increasing competition has encouraged the states to get involved directly in the regulation and standardization of the market. The increasing demand accompanied by increased affluence in the Muslim community has attracted the attention of multinational corporations. All these factors will be delved into, in detail, in this paper. This article differs from the past scholarship as a work which takes a holistic view of the expansion and growth of the halal market. It takes a comprehensive overview of the evolution of the scope and scale of the halal market and connects it with historical events, latest trajectories, global trends and developments. The objective of this paper is to identify the various elements of growth in both the scope and scale of the halal market and the varied factors that have contributed to this growth. In the end, an analysis of the contemporary events is done to predict the future trend in this market. لقد توسّع مفهوم ’سوق الحلال‘ خلال العقدين الأخيرين، فأصبح يغطّي قطاعات مختلفة التي تتراوح من السياحة والضيافة والأزياء والملابس والأدوية والمستشفيات إلى التكنولوجيا الحيوية والعملات المشفرة. ولعبت هجرة المسلمين إلى العالم الغربي دورًا حاسمًا في تطوير هذا السوق. ونجد أن المنافسة المتزايدة قد شجعت الدول على التدخل المباشر في تنظيم وتوحيد السوق ووضع معايير موحدة له. إن الطلب المتزايد المصحوب بزيادة تكوين الثروات والثراء في المجتمع الإسلامي العالمي قد اجتذب بدوره انتباه الشركات متعددة الجنسيات. كل هذه العوامل المختلفة سيتم الخوض فيها بمزيد من التفاصيل في هذه الورقة. تختلف هذه الورقة عن الدراسات السابقة كبحث يأخذ نظرة شمولية للتوسع والنمو في سوق الحلال. تنظر هذه الورقة بنظرة شاملة على تطور نطاق وحجم سوق الحلال وتربطه بالأحداث التاريخية وأحدث المسارات والاتجاهات والتطورات العالمية. الهدف من هذه الورقة هو تحديد عناصر النمو المختلفة في كل من نطاق وحجم سوق الحلال والعوامل المختلفة التي ساهمت في هذا النمو. وأخيرا، تم إجراء تحليل للأحداث المعاصرة للتنبؤ بالاتجاه المستقبلي في هذا السوق.

Suggested Citation

  • Mudassar Ali Baig & Syed Nazim Ali, 2020. "The Expanding Scope and Scale of Halal market توسّع نطاق وحجم سوق الحلال," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 33(2), pages 159-172, July.
    • Handle: RePEc:abd:kauiea:v:33:y:2020:i:2:no:12:p:159-172
    DOI: 10.4197/Islec.33-2.12
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    References listed on IDEAS

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    1. Michelle Byng, 2017. "Transnationalism among Second-Generation Muslim Americans: Being and Belonging in Their Transnational Social Field," Social Sciences, MDPI, vol. 6(4), pages 1-19, October.
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    More about this item

    Keywords

    Halal market; Halal economy; Muslim immigration; Transnationalism; Shariah standards; Muslim identity; American immigration. سوق الحلال، اقتصاد الحلال، هجرة المسلمين، القومية، المعايير الشرعية، الهوية الإسلامية، الهجرة الأمريكية.;
    All these keywords.

    JEL classification:

    • J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
    • P5 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems
    • L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General

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