Potential for Sustainable Halal Industry Development in Indonesia: Literature Review and Global Trend Analysis

  • Citra Mulya Sari Universitas Islam Negeri Sayyid Ali Rahmatullah Tulungagung
  • Fitrianatsany Fitrianatsany Universitas Islam Negeri Sayyid Ali Rahmatullah Tulungagung
  • Nila Mafisatul Bashiroh Universitas Islam Negeri Sayyid Ali Rahmatullah Tulungagung
  • Moh Agung Irham Universitas Islam Negeri Sayyid Ali Rahmatullah Tulungagung

Abstract

This research explores the potential for developing a sustainable halal industry in Indonesia through a literature review and analysis of global trends. As the country with the largest Muslim population in the world, Indonesia has great potential in the halal industry, including the food, beverage, cosmetics, tourism, and sharia finance sectors. Increasing global and domestic demand for halal products is driving the growth of this sector. It also plays a serious role in supporting sustainability through environmentally friendly practices and efficient resource management. This research uses qualitative methods with a literature study approach to identify opportunities and challenges in achieving sustainability in the halal industry in Indonesia. The results show that implementing Environmental, Social, and Governance (ESG) principles can increase competitiveness and attract investment. However, we must overcome global competition, foreign cultural penetration, and economic imbalances. This research provides strategic insights for stakeholders to strengthen Indonesia's position as the centre of a sustainable global halal industry.

Keyword: Halal Industry, Sustainability, ESG

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Published
2024-12-18
How to Cite
Sari, C. M., Fitrianatsany, F., Bashiroh, N. M., & Irham, M. A. (2024). Potential for Sustainable Halal Industry Development in Indonesia: Literature Review and Global Trend Analysis. Annual International Conference on Islamic Economics and Business (AICIEB), 4, 158-161. https://doi.org/https://doi.org/10.18326/aicieb.v4i0.689