Halal Gelatin and its Business Opportunity in Indonesia
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Abstract
Nowadays, halal food is not only a necessity for Indonesian and world Muslims but it has become a business and economic opportunity for everyone. As written by Dinar Standard in the 2019-2020 Global Islamic Economic Report, that the amount of expenditure on halal food for the Muslim world in 2018 was US 1.37 Trillion and is expected to increase to US 1.97 Trillion in 2024. With an average growth of 6.3% (CAGR). This is not only due to the growth of the Muslim population in the world which currently reaches 1.8 billion people, but also the growth of GDP and income per capita and plus middle-class Muslims in Muslim-majority countries. Gelatin is one of the important ingredients in halal industry. Its application is very wide, raging from food, cosmetics, personal care and pharmaceuticals. This paper discusses the need and opportunity of gelatin production in the largest Muslim country, Indonesia.
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