Development of Halal Market: A Critical Perspective
Muslims population as the second-largest adherents in the world is considered to be the most expanding religion
globally. The concept of halal, meaning permissible according to the Islamic teachings, is often regarded as an absolute
criterion for Muslims' consumption. Globalisation has also broadened this phenomenon. Today’s demand in halal products is
not only centralised in Muslim countries, but has also spread out to Western communities along with the migration of
Muslims all around the world. Nevertheless, behind its tremendous growth, halal market has some critical issues which need
to be addressed. As the halal market continues to deepen and widen, serious implications haunt its growth. This business
practices of commercialising halal has created commodification of Islam. The absence of international standardised
regulation and control about certification of halal encourages this ongoing practice of commodifying Islam or ‘halalisation’.
Therefore, international halal accreditation is a good initiative to ensure compliance of world-wide halal products to
overcome some challenges lurking on this growing trend of halal market.
Keywords- Halal market, Muslims, Islamic economy