PELUANG DAN TANTANGAN PASAR INDUSTRI HALAL BAGI MENGGAIT MUSLIM MILENIAL

Abstract

The halal industry has great opportunities in global business along with the increasing Muslim population and awareness of halal products, with demand not only coming from Muslim-majority countries, but also from non-Muslim countries that see promising market potential. This sector includes food and beverages, Islamic finance, pharmaceuticals, cosmetics, and halal tourism, which continue to grow thanks to technological developments and consumer awareness. This study analyzes the opportunities and challenges of the halal industry for the millennial Muslim generation in Indonesia, who play an important role as consumers and business actors with a lifestyle that is increasingly aware of the importance of halal products. Although Indonesia has the largest Muslim population in the world, the development of the halal industry faces obstacles such as low competitiveness of local products, lack of innovation, and competition with countries such as Malaysia, the United Arab Emirates, and Thailand which are more advanced in building a halal ecosystem. With a qualitative descriptive research method through a literature review, the results of the study show that support from the government, industry players, and the community is needed to strengthen the competitiveness of the Indonesian halal industry. Data from the Global Islamic Economy Report (2022) recorded that Indonesia's halal product consumption was USD 144 billion, especially in the halal food and beverage sector. However, inhibiting factors such as limited innovation, slow halal certification, and minimal research investment require a comprehensive strategy, including increasing awareness of halal products, innovation in various sectors, and improving regulations and certification. With the synergy of various parties and the active role of the millennial generation, it is hoped that Indonesia can compete globally and become a leader in providing quality halal products and services.