Philipino Companies To Target $2.6 Trillion Halal Industry
Pasay City: Around 26 food, cosmetics, and tourism companies from the Philippines are gearing up for the country’s exhibit in the Malaysia International Halal Showcase (MIHAS), the world’s largest halal event.
The Filipino delegation will showcase the Philippines’ healthy, natural and organic halal-certified food products, as well as some of the country’s top tourism destinations under a unified national pavilion.
The delegation is being led by the Department of Trade and Industry (DTI), through the Centre for International Trade Expositions and Missions (CITEM).
According to DTI-CITEM Executive Director Pauline Suaco-Juan, the participation of the Philippines’ is aimed at expanding the country’s market share in the global halal market, which has enjoyed surging demand in recent years.
“We are here to show the world that the Philippines is more than ready to cater to the demands of the global halal market especially with our burgeoning halal industry here in the country,” said Suaco-Juan.
MIHAS, which will be held from 3-6 April in Kuala Lumpur, Malaysia, is considered the world’s largest halal event.
It offers networking and business opportunities for halal exhibitors and buyers. In 2017, it welcomed over 22,000 trade visitors from more than 70 countries.
Among the halal food that will be exhibited at the Philippines’ pavilion are product variations of coconut, banana, coffee, mango and tuna which are included the country’s ‘Premium 7’ food exports. In 2018, the global halal market was valued at USD 2.6 trillion with 62 percent of the halal market comprising food and beverages.
Based on the 2018 MIHAS data, the top eight food segments at the event are halal ingredients; frozen foods; process technology; coffee; meat/poultry; dairy products; packaging materials, packaging, packaging aids; and bakery products.