Muslims population globally spent USD 1,24 Trillion on F&B in 2016, a 6,2 % growth from the previous year and is expected to reach USD 1,93 Trillion in 2020. At the same time, the Halal Food demand is also coming from the non-muslim communities wanting for good quality - resourceful products that already meet certain standard if they are categorized as Halal. Source: GIE Report, 2017
Over the past decade, Islamic finance has been abundant to undergo evolution. In 2016, the global asset amount of this sector reached USD 2,202 billion and is estimated will reach USD 3.8 Billion by 2022. One of the core strengths of Islamic finance is the system that supports the SME industry. Indonesian Financial Services Authority and Bank Islamic development has launched this initiation and this has been considered a step significant for a country with a Muslim population no.1 in the world
Halal travel sectors has a significant demand from the muslim travelers that are looking for same nature of experiences as the non-muslim travelers but with facilities that reflect the sharia values such as Halal Hotels & Food. Muslim travel market (2016) was valued more than USD 169 Bn with 11,8% growth in 2017, almost double as the growth of the global travel market. Indonesia has launched a Global Halal Travel Alliance to bolster halal tourism within the ASEAN region. The development of Halal Tourism nowadays has created a comprehensive Halal Travel Ecosystem, involving several Islamic lifestyle sectors (F&B, hotel, fashion, culture & healthcare) Source: GIE Report, 2017
Modest fashion style has emerged and has strong in the world fashion industry. Muslim shopping for fashion (& clothing footwear) is estimated at USD 254 Billion in 2016, and is expected to grew by 7% with a value of USD 373 Trillion in the year 2022. Millennial Muslim women currently have Muslim fashion market, pushing both of them as the customer or the designer. Social media & internet has regarded as a successful platform for promoting the modest fashion industry apparel
Halal media represents all the entertainment and recreation media platform that flourishing Islamic content as their entertainment values. This sector (2016) has globally valued at USD 198 Bn and to grow by 6% to USD 281 Bn by 2022. This platform including TV screens, books, comics social media, apps and many more entertainment platform. Source: GIE Report, 2017
Muslims society who are increasingly concerned about what they consume, this sector was worth USD 83 billion in the year 2016 and is expected to reach USD 132 Billion in 2022. As for Halal cosmetics, this sector has been reach a value of USD 57 billion in 2016 and is expected to grow by 6% to reach USD 82 billion in 2022. The Government of Indonesia has been preparing new regulations stating that all products distributed in the market must be certified as Halal products starting in October 2019.