Much activity expected in the Indonesian cold chain market through to 2026

The Indonesian cold chain market is expected to be valued at about IDR6,800 B by 2026, says research firm Ken Research.

According to the company, the cold chain market is highly fragmented and currently includes 100+ cold transportation and storage players. A significant increase in the number of companies is expected year-on-year due to consumer demand and technology advances, leading to significant industry fragmentation, Ken Research said.

Growth expected in halal cosmetics and personal care market

Technavio says the halal cosmetics and personal care market is poised to grow by US$28.34 billion from 2020-2024, progressing at a CAGR of over 7% during the forecast period. Year-over-year growth for 2020 is estimated at 6.7%.

Source: Technavio. The Halal Cosmetics and Personal Care Market 2020-2024 report forecasts 6.7% growth globally for 2020.

According to its halal cosmetics and personal care market report:

- Demand for halal personal care and grooming products for men are major trends driving the growth of the market.

- The Asia Pacific region will contribute 44% of the market share.

- The company advises market vendors to focus more on the fast-growing segments, while maintaining their positions in the slow-growing segments.

Vendors mentioned in the Halal Cosmetics and Personal Care Market 2020-2024 report include:

• Amara Halal Cosmetics
• Clara International Beauty Group
• Ivy Beauty
• PROLAB COSMETICS
• Martina Berto
• Paragon Technology and Innovation 
• Saaf Skincare 
• Talent Cosmetics Company
• Total Beauty Network
• Wipro Enterprises

However, Technavio said the market is fragmented, and the degree of fragmentation will accelerate during the forecast period.

Technavio is a global technology research and advisory company focusing on emerging market trends and actionable insights to help businesses identify market opportunities and develop effective strategies to optimise their market positions. Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries.

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Moka sees F&B down, but delivery services grow during Ramadhan

Source: Moka.

Moka, a digital point-of-sale (POS) startup in Indonesia, has compared Ramadhan 2020 sales data against Ramadhan 2019.

The company found that daily business revenues in the food and beverage (F&B) sector were down more than 40% during the COVID-19 pandemic in Indonesia, with one out of every three F&B businesses in Indonesia suffering significant losses. However, revenue for delivery services were up by as much as 30%.

During Ramadhan in 2019, there had been up to a 67% rise in the number of food and beverage (F&B) outlets operating between 2 and 4 am. During these hours, consumers would tend to choose practical food for their suhoor (سحور, pre-dawn meal) and purchase up to five products during each transaction for group servings.

In the fashion retail industry, there had been up to a 50% revenue increase for Ramadhan 2019. The most popular items sold during Ramadhan would be tunics, hijabs and Islamic gowns (modesty clothing), which would see sales gradually decline after Ramadhan. Beauty services would instead enjoy higher revenues, by up to 54%, one month after Ramadhan. This shows that the public tends to seek beauty treatments once Ramadan concludes.

Although consumption patterns in Indonesia have changed due to the COVID-19 pandemic, the trends seen during Ramadhan 2019 cannot be entirely disregarded, said Moka. Moka Data Analyst Hutami Nadya said that one strategy that merits focus is online shopping.

To maximise shopping that makes use of delivery services, whether in the F&B as well as the service and retail industries, businesses can innovate by issuing special delivery menus that can be processed and cooked by the consumers themselves for suhoor and iftar (إفطار, breaking of the fast) with the family at home. This also applies in the retail and service industry, where businesses can introduce special packages for sale online.

"Businesses may take note of trends in society. For instance, for the purpose of cooking at home, F&B merchants are shifting to provide ready-to-cook food ingredients while providing the option of delivery services to support social distancing. Additionally, Ramadhan is the right moment to share with those who need more. We can start by adding the option of a menu to be donated to those in need. To record positive cashflow, merchants may also apply the pay-it-forward scheme for customers," she said.

Pay-it-forward is a prepayment scheme that allows customers to purchase product or service packages from a business that are delivered in the future. Businesses would usually offer price reductions in the form of coupons for customers. This scheme is expected to assist businesses to book positive cashflow for such purposes as rent, employee salaries, business capital installments, insurance, supplies of raw materials, repairs and other expenses.

Moka supports 40,000 merchants across 200 cities in Indonesia with an end-to-end solution that consists of POS, payments, loyalty, accounting, ingredient procurement, and business loans. The company's products include Moka Pay, Moka Fresh, Moka Capital, and Moka Connect to complement its POS services.

Vegan food market CAGR expected to be 11.4% through to 2027

Government initiatives and consumer concerns related to health are major factors influencing the growth of global vegan food market, says consultancy Absolute Market Insights (AMI). Vegan foods include fruit, vegetables, nuts, cereals, pulses, milk, yoghurt, cream, margarine, cheese, soy products, as well as dairy alternatives and meat substitutes.

The global vegan food market was valued at US$10.66 billion in 2018 and is anticipated to reach US$27.98 billion by 2027, growing at a CAGR of 11.4% over the forecast period, according to AMI. Consumer preferences across the globe toward vegetarian and flexitarian food are driving the demand for vegan food products, AMI said. Consumers are more inclined towards a healthy lifestyle today and largely prefer plant-based food products to provide their nutrition, the consultancy elaborated. Whereas vegetarians do not eat meat or fish, flexitarians have a primarily vegetarian diet but may occasionally take meat or fish.

Governments have also been introducing vegan food items to reduce meat consumption, due to associated health concerns and environmental issues. The China government has taken the initiative to reduce its citizens' meat consumption by 50% to combat global warming. The ongoing prevalence of the coronavirus (COVID-19) has accelerated the trend.

Food manufacturers such as Beyond Meat and Impossible Foods have responded to the trend with plant-based food products that resemble meat in terms of taste and texture, while restaurant chains have begun to offer dishes that feature plant-based 'meat'. 

Report highlights include:

- The dairy alternatives segment is expected to witness a tremendous growth over the forecast period.

- The online distribution channel registered highest market share in 2018 and is expected to further proliferate over the forecast period.

- The Asia Pacific market is anticipated to witness highest growth over the forecast period.

Some of the players mentioned in the report include ADM, Amy's Kitchen, Beyond Meat, Blue Diamond Growers, Conagra, Hain Celestial, Hormel Foods Kellogg, Kraft Foods, LIGHTLIFE FOODS, Marlow Foods (Quorn), NESTLÉ, Smithfield Foods, THE WHITEWAVE FOODS COMPANY, and Tyson Foods.

Within the Asia Pacific region, the following countries are studied: China, Japan, India, New Zealand, Australia, South Korea, Indonesia, Thailand, Malaysia, and Singapore. Southeast Asia, the Rest of Southeast Asia and the Rest of Asia Pacific are also segmented as regions. For the Middle East and Africa, KSA, UAE and Kuwait are some of the countries studied.

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Halal F&B CAGR projected to be over 6% up to 2028

The global market for halal food & beverages is projected to register a CAGR of 6.05% from 2020 to 2028. The surging Muslim population and the increasing awareness among the non-Muslim population regarding halal foods, are the dominant factors, said Inkwood Research.

According to Inkwood Research, there has been an increasing preference for organic and natural food and beverage products across the globe. This trend is an opportunity for halal food products at a time when the Muslim population is increasing globally.

Within the halal food industry, manufacturers are focusing on innovating and diversifying, as well as marketing the health benefits of halal-certified foods.

The increasing standardisation of halal certification is also set to drive increased opportunities.

However, inappropriate hygienic practices, poorly-maintained production and processing facilities, and expiring halal certification weakens the trust of consumers.

As of 2019, the Asia Pacific region dominated the market in terms of market share.

Crescent Foods, Nestle, QL Foods, Al Islami Foods., Cargill Inc., are among the prominent companies in the market.

Buy the report by Inkwood Research (December 2019)

Global halal food market to surpass US$2 billion by 2027

The global halal food market was valued at US$715 billion in 2018, and is projected to see a CAGR of 12.7% from 2019 to 2027 in terms of revenue.


Growth drivers include an increasing Muslim population worldwide, coupled with development in the retail sector supply chain. According to World Health Partners, Muslims have the highest fertility rate compared to other religious groups.

However, lack of a standardised body for certification of halal products is a major factor hampering growth.

Increasing consumer spending on food & beverage is expected to provide ample of opportunities for global halal food market. For instance, according to the State of the Global Islamic Economy, the global Muslim consumer invested around US$1,128 billion on food and beverage in 2015.

Based on product type, meat products accounted for the largest share of 44.2% by revenue in the global halal food market for 2018. The grain products segment is expected to record fastest growth over the forecast period. Traditionally, grains are considered as halal when they are not made up of any haram or unlawful ingredients. However, expansion and diversification of the halal food market along with global nature of grain trading have led to increase inspection of all raw materials and processed grain products. Therefore, grain product manufacturers such as Kellogg Company are focusing on receiving halal certification in order to increase consumer base, globally. This in turn is expected to drive the grain products demand in the near future.

Geographically, the Asia Pacific region held a dominant position in the global halal food market in 2018. Moreover, the region is expected to the record fastest growth during 2019 to 2027. Factors such as presence of over 60% of the global Muslim population in the region together with rising expenditure of people on non-vegetarian food products is likely to provide an impetus to halal food demand from the region in the near future.


Market growth is supported by the many halal certification authorities in Asia Pacific that are gaining consumer trust. For instance, Department of Islamic Development of Malaysia has 56 halal certification bodies in 33 economies such as China, Taiwan, and various others. This helps halal-certified products to develop extensive distribution and business across Asia Pacific.

Key players mentioned in the report include Cargill, Al Islami Foods, QL Resources, Haoyue Group, Kawan Food, BRF, and Saffron Road Food.

Buy the Halal Food Market Report, by Product Type (Dairy Products, Meat Products, Grain Products, Vegan Products, and Others), by Distribution Channel (Hypermarkets, Supermarkets, Online Stores, Convenience Stores, Specialty Stores, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027 report (June 2019)

IFSB launches Islamic Financial Services Industry Stability Report 2019

The Islamic Financial Services Board (IFSB) has launched the Islamic Financial Services Industry (IFSI) Stability Report 2019 at the IFN Forum in Singapore. The launch was officiated by the Secretary-General of the IFSB, Dr Bello Lawal Danbatta.

This is the seventh IFSB IFSI Stability Report, which has been published annually since 2013. Over the years, the report has become a benchmark publication for the IFSB and numerous other stakeholders, tracking the growth, development and stability assessment of the Islamic financial services industry.

IFSB Secretary-General Dr Bello Lawal Danbatta mentioned that the IFSB launched the soft copy of the IFSI Stability Report 2019 to the public on 31 July 2019. He added that an official launch of the hard copy of the report at the IFN Forum and in a key jurisdiction like Singapore with great potentials of becoming a significant Islamic finance market, offer a great opportunity to share the key report takeaways as well as the outlook for the IFSI.

The report indicates that in 2018, the IFSI recorded a 6.9% year-on-year growth rate on the back of a rebound in oil and commodity prices, improvement in investment climate in most jurisdictions with record year-on-year growth of 26.9% in the Islamic capital market sector. The global assets of the IFSI are estimated to be worth about US$2.19 trillion as at 2Q18, reflecting a softened momentum in growth rate recorded due to trade and economic sanctions, currency depreciations, and increasing inflation in some jurisdictions with a significant presence of Islamic banking.

As stated in the report, the positive growth trajectory of the IFSI is expected to continue into the foreseeable future. However, emphasis should be given to emerging operational issues posed by technology, changing market structures and increasing activities of the non-bank financial institutions.

The report rides on data from the IFSB’s Prudential and Structural Islamic Financial Indicators (PSIFIs) database for its Islamic banking sector analysis.

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The IFSI Stability Report 2019 is available for download from the IFSB website.

Appsflyer shares insights for Ramadhan marketing for 2019

- Shopping apps revenue growth changes considerably before, within and after Ramadhan

- Travel apps lead in revenue growth trends

- App purchases peak in the early hours of the morning and during lunch time

AppsFlyer, the mobile attribution and marketing analytics provider, has released its first-ever app market insights report around the month of Ramadhan.

Source: Appsflyer report cover.

According to AppsFlyer, mobile marketers must secure a better understanding of the context and activity for each time in the day, as well as periodic user behaviour unique to this period. This includes app usage habits, the frequency of social shares and aspirational festive purchases to plan when ad spends could potentially be most effective.

AppsFlyer's technology is found on 98% of the world's smartphones. The report analysed mobile app usage behaviour by consumers across Indonesia, Malaysia and Singapore between 2016 to 2018. The data covers a total of 220 million installs and 100 million purchases across apps in entertainment, finance, gaming, maps and navigation, shopping, social, travel, from the period before Ramadhan to two weeks after it ends.

Findings from the study include:

Indonesia leads in app install growth rates across verticals

While all three countries in the survey registered material increases in average installs per app in both 2017 and 2018, Indonesia generated an almost 20% year-over-year uplift in app installs for 2018. Besides the country’s strong economic growth in 2018, smartphone penetration has been steadily on the rise, growing from 24% in 2017 to 26% in 2018.

Shopping apps revenue growth changes considerably before, within and after Ramadhan

In 2017 and 2018, shopping apps saw growth in pre-Ramadhan week revenue, with growth rates of 76% and 55% respectively. We see sharp drops in this metric the week immediately following, displaying fluctuations from period start to end.

Travel apps lead in revenue growth trends

Travel apps register the most consistent Ramadhan period growth over the years. This vertical also displays the strongest revenue growth rate, together with social and messaging apps.

Shopping and casual gaming apps show the best retention rates

Advertisers from casual gaming and shopping apps hold the crown for highest non-organic user retention rates (3.6% and 3.8% respectively) during the Ramadhan period, with shopping apps also experiencing high retention rates for organic users (4.1%) at day 30. Ramadhan typically lasts 29 to 30 days, depending on when the new moon for the next month is sighted.

App purchases peak in the early hours of the morning and during lunch time

Shopping app purchases skyrocket during Ramadhan throughout Indonesia, Malaysia and Singapore. This boost is particularly pronounced from midnight up until 5-6 am in the morning. The hours before the dawn prayer, in particular, see marked increases of up to 526% in shopping purchases in Indonesia. Also, this activity peaks at 45% higher than pre-Ramadhan periods in Indonesia in the lunchtime hours between 11am to 2pm.

Moderate growth forecast for the global Islamic finance market

The Global Islamic Finance Market Growth, Trends, and Forecast (2018 - 2024) report by Mordor Intelligence is now available on ResearchAndMarkets.com.

The global Islamic finance market is growing moderately, because of strong investments in the halal sector, infrastructure, and sukuk, especially through online availability of all products and services, said the research firm.

According to Mordor Intelligence, Islamic banking is commonly seen to have two advantages over conventional banking. The first is a perception that Islamic banks are bound to a higher moral standard. They will not take on irresponsible amounts of risk or pay outsize bonuses to their top bankers. The second is that earnings come from identifiable assets, not opaque combinations of derivatives and securities. Because Islamic banks cannot make money through interest, they rely on ties to tangible assets, such as real estate and equity, charging 'rent' instead of interest.

Across its three main sectors - banking, capital markets and takaful - the Islamic finance market has an estimated worth of US$2.05 trillion in 2017, marking 8.3% growth in assets in US$ terms. Global sukuk surged by a record 25.6% to close at US$399.9 billion at the end of 2017 on the back of strong sovereign and multilateral issues in key Islamic finance markets, including debut entries into the sovereign sukuk market by KSA.

Islamic banking is the largest sector in the Islamic finance industry, contributing to 71%, or US$1.72 trillion, to the market. Commercial banking remains the main contributor to the sector's growth.

There were 505 Islamic banks in 2017, including 207 Islamic banking windows. However, the number of players is not necessarily indicative of the size of the industry in terms of assets. Islamic finance's second-largest market, KSA, has 16 Islamic banks, including windows, which is fewer than the geographically-smaller markets of Malaysia and the UAE.

With the growing popularity of mobile banking, particularly among younger people according to PwC's 2018 Digital Banking Consumer Survey, a growing number of digital-only, or 'disruptor banks' with no physical branches, have emerged. Islamic banks are also catching up with the launching of digital-only subsidiaries, such as Gulf International Bank's Meem in Bahrain and KSA.

Shari'ah-compliant assets represent a significant portion of total banking assets in the GCC. In the GCC, the market share of Islamic banking has crossed the 25% threshold, which suggests that Islamic banks have become systemically important in these countries.

The global Islamic finance market is fragmented with a large number of players trying to grab a chunk of the developing market. In Asia, it is growing moderately with many local players and some big players. However, the GCC is a highly competitive market, with many international players. Al-Rajhi Bank, Dubai Islamic Bank, and Kuwait House Finance are among the major players present in the region.


Companies mentioned in the report include:

• Dubai Islamic Bank
• National Commercial Bank Saudi Arabia
• Bank Mellat Iran
• Bank Melli Iran
• Kuwait Finance House
• Bank Saderat Iran
• Malayan Bank Berhad (Maybank) Malaysia
• Bank Maskan Iran
• Qatar Islamic Bank
• Alinma Bank Saudi Arabia

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Global halal market expected to boom

The global halal market was valued at US$5.73 trillion in 2016 and is expected to grow due to a rising Muslim population, rising spend and increasing availability of halal products and services.

The Islamic finance sector has witnessed tremendous growth over the past few years with the emergence of crowd funding platforms including Human Crescent. Lack of awareness has resulted in an enormous opportunity for products and services offered by this segment. The segment is likely to grow at a CAGR of 10.5% from 2017 to 2024, says Hexa Research.

Speedy growth of economies in the Middle East and Southeast Asia are expected to augment the growth of the market owing to the presence of a large Muslim population. These economies are likely to emerge as popular destinations for food and fashion. The Middle East halal market is expected to witness a double-digit growth generating revenues of US$6.53 trillion by 2024.

The demand for qualified halal products among non-Muslim customers has been on the upsurge as more consumers are looking for high superiority, safe and righteous products*. Non-Muslim consumers in Asia Pacific are likely to play a vital role in driving the regional market making it the second largest marketplace after the Middle East, contributing to 30.9% of the global revenues by 2024.

The Islamic economy is being driven primarily by the increasing youth population with high disposable incomes. These factors are likely to drive segments of the halal market such as fashion, food, finance, travel, as well as media and recreation.

Several food companies including KFC and Nestle are already offering halal products to their Muslim consumers. The emergence of Islamic finance institutions offering finance and banking assets are expected to provide further impetus to businesses that are focusing on venturing into the halal industry

Key players analysed include:

• Diana Kotb

• INAYAH

• Al-Rajhi Bank

• Al-Salam Bank

• MMA Bio Lab

• Ivy Beauty Corporation

• Nema Food Company

• Midamar

• Chemical Company of Malaysia (CCM Pharmaceuticals)

• Pharmaniaga

Source: Hexa Research website. Global halal market revenue, 2014 - 2024 (US$ trillion)

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APAC to drive global halal cosmetics and personal care market through to 2022

Source: Technavio, via Businesswire. Infographic on the global halal cosmetics and personal care market 2018-2022.

Technavio forecasts that the global halal cosmetics and personal care market to grow at a CAGR of 13.55% from 2018 to 2022. To calculate market size, the company considered the revenue generated from the sales of halal cosmetics and personal care through online and offline channels.

A key factor driving growth is the rising Muslim population worldwide. Technavio said an increase in demand from the growing Muslim population and rising awareness of halal cosmetics and personal care products are pushing demand up.  Improved standardisation and certifications are another market driver.

As the Asia Pacific region (APAC) is home to more than 55% of the Muslim population, the region is experiencing a relatively higher demand for halal cosmetics and personal care products. EMEA led the market in 2017 with a global halal cosmetics and personal care market share of close to 52%. During the forecast period, the APAC region is expected to register the highest incremental growth, while the other two regions will witness a decline in their market shares.

Brands listed in the report include: 

• Amara Halal Cosmetics
• Ivy Beauty Corporation
• Martha Tilaar Group
• PT Paragon Technology and Innovation, the parent company for Wardah
• Total Beauty Network, parent company of Inika
• WiproEL

Vendors in the market are trying to capitalise on the demand for halal personal care and grooming products for men. Although many vendors manufacture halal cosmetics and personal care products for women, not many cater to men. Segment categories include skincare products, haircare products, and fragrances. Celebrity endorsements are also encouraging men to use personal care and grooming products.

“Presently, Millennial Muslim consumers are becoming conscious of their looks and appearance, propelling an interest in personal grooming among young men. This expands the consumer base of the market. Therefore, the interest in personal grooming is expected to spike the volume sales of halal cosmetics and personal care products during the forecast period,” says a senior analyst at Technavio.

As halal cosmetics and personal care become more popular, the counterfeiters will also have a field day, Technavio warns.

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Non-alcoholic malt beverages to shine through to 2028

Future Market Insights (FMI) says the global non-alcoholic malt beverages market is projected to register a CAGR of 4.0% during the forecast period of 2018-2028.

The global non-alcoholic malt beverages market is expected to represent an incremental opportunity of US$856.2 million by end-2018 over 2017. By product type, the dairy-based non-alcoholic malt beverages segment is expected to register a CAGR of 4.1%. 

Non-alcoholic malt beverages and other non-alcoholic drinks are becoming popular as a healthier alternative to alcoholic drinks, FMI notes. Non-alcoholic malt beverages are already very popular in the in the Middle East due to them getting halal certification. Consuming non-alcoholic malt beverages has also become a statement of higher living standards. They also taste good as compared to that of alcoholic beverages, FMI said. 

Non-alcoholic malt beverages such as Milo, Vitmalt, and Hollandia Chocomalt have extra nutritional content incorporated, raising their value and changing their positioning to energy drinks.

"Non-alcoholic malt beverages are available in the market in many different flavors so that people get a choice to select their preferred drink. A few non-alcoholic malt beverages resemble beer in taste, and the only difference remains that these non-alcoholic malt beverages contain zero percent alcohol," FMI stated.

"Non-alcoholic malt beverages is also an upcoming trend seen in countries that have an improved economic condition, where the consumption of beverages is a must in social gatherings, and the standard of living is high. The appeal of non-alcoholic malt beverages is also increased due to social media, which is being used by most companies, especially targeting the youth population. 

"Women are also seen to be consuming ready-to-drink (RTD) non-alcoholic beverages such as non-alcoholic malt beverages. Women have always been known to try different flavours and experiment with their drinks. Also, the health factor is given importance by women, and non-alcoholic malt beverages, having no alcohol, are proving to be a healthy option," FMI said.

FMI believes that there are untapped markets to focus on, including producing in-country. "There are several regions where malt-based beverages are imported from other countries. This leads to the high cost of premium products, as such, affecting sales in these regions. Companies are focusing on expanding and manufacturing their premium products in these regions itself, leading to comparatively lower costs. Low penetration in a few regions, coupled with the high costs of premium imported products, create an opportunity for manufacturers to expand in such regions," the company said.

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Pilgrims leaving KSA after Hajj

The Saudi Press Agency has reported that 453,283 pilgrims have gone to Madinah after their Hajj, with 174,633 actually remaining in the city. These numbers are from daily statistics reported by the Madinah-based Unit for Media and Social Communication of the Hajj Committee.

The Saudi Press Agency also cited KSA Directorate General of Passports figures that 800,385 Hajj pilgrims had left the country as of September 3. Of these 710,583 left by air, while 76,732 pilgrims left overland. The remainder 13,070 pilgrims departed by sea.

By September 5, 85% of some 282,000 pilgrims from 19 Arab countries had already left KSA, Arab Countries Pilgrims Circumambulation Foundation said via the Saudi Press Agency. All pilgrims must leave KSA by 15 Muharram, in about two weeks.

Statistics for Hajj 2018 released

The General Authority for Statistics, KSA, has published final statistics for Hajj 2018. Counts were made through Hajj statistics centres at the entrances to Makkah. 

Some 2,371,675 pilgrims performed the Hajj in 2018. Of the cohort, 1.758.722 came from outside KSA, and 612.953 from within the country. There were more males (1.327.127) than females (1.044.548).

GCC pilgrims accounted for 1.9% of the cohort (34.140), while those from Arab countries outside the GCC contributed 22.5% of the cohort (395.410). Asian pilgrims, excluding the previous segments, contributed 59.7% of the cohort (1.049.496).

Pilgrims from overseas mainly arrived by air (1.656.936), followed by overland routes (85.623). Sea routes were the least popular (16.163).

Source: GASTAT website. Banner for the Hajj report.

Over half a million pilgrims (557.282) from overseas arrived from the beginning of the Hajj season through to 18 Dhulqidah, the month before Dhulhijjah. A further 744.903 pilgrims arrived between 19 and 29 Dhulqidah. Nearly half a million (456.537) pilgrims arrived over 1 to 8 Dhulhijjah. The Hajj started on 8 Dhulhijjah.

Over half of the 612.953 domestic pilgrims (372.991) were from Makkah, including temporary residents. There were 211.736 Saudi citizens and 401.217 residents from other nationalities.

The Jeddah/Makkah road was the most popular point of entry to Makkah with 38.2% of pilgrims using this route. Another 29.4% arrived through the Al-Shrae’a/Makkah road, and 17.8% came by the Makkah/Madinah road. The remainder used the South/Makkah road, Taif/Makkah road, and the old Jeddah/Makkah road.

GASTAT said 287.300 people provided more than 215 main support services and subservices. Supervision and follow-up services were provided by 7,310 supervisors from six entities. Public services were provided by 192.254 employees from 19 entities, and health services were offered by 32.579 employees from three entities. The labour force in transportation and post services, as well as logistics services (shipping, post and supply) that KSA provides to pilgrims reached 47.765 employees working in seven entities, while ICT services were provided by 7.411 employees from four entities.

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View Hajj statistics on the GASTAT site

107,000 pilgrims encircle the Ka'abah every hour

Source: Centre for Government Communications, KSA.
Pilgrims circumnabulating the Ka'abah.

The KSA General Authority for Statistics has stated that, as of 18 August, there are 278,000 people praying in the Grand Mosque (Al-Haram Mosque) in Makkah, and 107,000 pilgrims circling the Ka'abah every hour.

According to the Saudi General Director of Passports, a total of 1,684,629 pilgrims have arrived in KSA via air, land, and sea ports by noon, August 16. The Hajj will be performed by an estimated 2 million pilgrims, including KSA residents.

Additionally, there are also more than 10,000 staff members from the General Presidency for the Affairs of the Grand Mosque and the Prophet’s Mosque tending to pilgrims and visitor’s needs.

Furthermore, 42 research and scholarly papers have been published by the Custodian of the Two Holy Mosques Institute of Hajj and Umrah Research, to develop a comprehensive, sustainable system for Hajj, umrah, and general visits.

Research that the institute is working on includes:

– An analytical study on the time it takes for pilgrims to complete necessary procedures to enter the kingdom.
– The modelling and simulation of tawaf (الطواف; circumambulation).
– Hajj and Umrah 2018 demographics and statistics.
– Employing interactive smart screens for navigation.
– The role of public relations (PR) pamphlets in health awareness and promotion.
– The evaluation of sanitary prayer counters in the Grand Mosque.
– Transportation from/to holy sites.
– The role of Saudi embassies in educating pilgrims about lawful conduct

The Ministry of the Interior has kept checks up on work and transport permits for the Hajj season. According to the Commander of Hajj Security Forces, 188,464 individuals and 837,46 vehicles were turned away from Hajj zones from 9 July to 6 August at 12 Makkah checkpoints.

This year’s Hajj started on August 19 and will end August 24.

Malaysia leads the sukuk market

Source: IIFM website. The IIFM
sukuk report for 2018.

Malaysia continues to be the leader in sukuk, with combined domestic and international issuances of US$612 billion, according to the International Islamic Financial Market (IIFM) Sukuk Report 2018.

Launched at a May IIFM seminar organised by IIFM and hosted by Labuan IBFC, the report examines the development, structural preferences and drivers of the international and domestic sukuk market in recent years with a special focus on 2017. The report also provides an overview of the trends and prospects of the sukuk market and highlights major issuances around the world in 2017.

The report suggests that Malaysia with its deep capital market retained its position as the top sukuk issuer over its peers from the Far East and the Gulf Cooperation Council (GCC). In comparison, Indonesia's issuances total US$63 billion while KSA issued US$95 billion. The UAE had US$68 billion in issuances.

Labuan Financial Services Authority Director-General Danial Mah Abdullah said, “Malaysia has always played an important innovative role in Islamic financial services, boasting a comprehensive regulatory framework for Islamic banking, finance, takaful and asset management.

“As an extension and in support to this, Labuan IBFC has also been an innovative bed for Islamic financial products. For instance, the introduction of waqf embedded within a private foundation set up as a wealth management structure, through the Labuan International Waqf Foundation is a classic example of this innovation from Labuan IBFC. It is also home to the world’s first US-dollar denominated exchangeable sukuk. These have contributed to Malaysia’s position as the global leader in sukuk issuance.”

Ijlal Ahmed Alvi, Chief Executive of IIFM commented, “Barring Malaysia, the corporate sukuk issuances in most of the established jurisdictions is below expectation and challenges including legal and policy issues must be resolved to encourage more sukuk issuances by corporate entities.

“There is a degree of confidence in both established sukuk issuing jurisdictions as well as new jurisdictions entering the sukuk market which is evident from longer-dated sukuk ranging from 30 years to perpetual being issued.”

In his opening remarks, Danial said that the seminar is an excellent opportunity to build greater awareness and enhance understanding on the standardisation efforts spearheaded by the IIFM. Danial said, “The standards published by the IIFM have brought tremendous benefits to the industry by reducing legal and shari'ah compliance related costs, strengthening risk management capabilities, increasing efficiency, promoting shari'ah harmonisation and encouraging law reforms.

“These standards are not only utilised by financial institutions which are active in Islamic finance markets in the GCC, Africa, Asia and Europe but also by the regulators as reference for providing Shariah-compliant facilities to Islamic financial institutions in their respective jurisdictions.”

Chairman of IIFM Khalid Hamad said, “IIFM, in publishing shari'ah-compliant standard documentation and product confirmations for the Islamic finance wholesale market, is assisting in creating a transparent and robust industry and I expect the leadership of Islamic banks as well as the regulators to encourage the use of IIFM standards in their jurisdictions which will further enhance efficiency, reduce costs, promote best market practice and serve in the unification and harmonisation of the industry.”

Details:

Download the IIFM Annual Sukuk Report 2018 (PDF)

KSA halal food and beverage market to have a CAGR of over 9% through to 2023

The KSA halal food and beverage market is projected to grow at a CAGR of over 9%, in value terms, from 2018 to 2023, says TechSci Research.

Source: TechSci Research. KSA halal food and beverage market by size, region and value, 2013 to 2023 (forecast). The west region includes Tabuk, Madinah and Makkah, while the Central region is home to Qassim and Riyadh, capital of KSA.

Increasing demand for packaged halal foods among non-Muslims*, strong import and export regulation and policies regarding halal food and beverages and increasing Muslim population in the country will spur further growth of the halal food and beverage market in the country, the consultancy said.
 
Major players operating in the KSA halal food and beverages market include Al Islami Foods, Amana Foods, One Foods Holdings, Khazan Meat Factory, Al Kabeer Group, Albatha, Midamar, Prairie Halal Foods, JM Foods, AL RAWDAH, Nestlé Dubai Manufacturing and Agthia.

Explore:

Buy the Saudi Arabia Halal Food & Beverages Market By Product Type (Bakery, Candy & Chocolate, Meat Products, Beverages), By Product Type (Bakery, Candy & Chocolate, Meat Products, Beverages), Competition Forecast & Opportunities, 2013 – 2023 report (December 2017)

*This view is often mentioned in forecasts about the halal market. This author has never encountered such views among non-Muslims. There is indeed a shift towards clean and healthy eating and a corresponding focus on the food chain. However, non-Muslims are looking for foods which satisfy the criteria for clean and healthy eating and it does not matter to them if the foods are halal or not. They are not seeking out halal foods to satisfy their preference for clean and healthy eating. Nor do they feel that the halal label means that the food is cleaner or healthier.