Halal Industry in Singapore: A Case Study of Nutraceutical Products
DOI:
https://doi.org/10.11113/sh.v4n2.560Keywords:
Halal Nutraceutical product, Halal Consumer Behaviour, Muslim and Non-Muslim Entrepreneurs' PerceptionsAbstract
The increasing demand of Halal Nutraceutical products by consumers, Muslim entrepreneurs and non-Muslim entrepreneurs entail a need to analyze the development of the Nutraceutical sectors within the Halal Industry in Singapore. This study will illuminate the potential growth of the Halal industry which has become a significant contributor to all facets of the economic growth in Singapore. This study will also help to further improve the compliance towards halal standard among the participants and key players of the halal industry. This too will encourage investment of resources in Halal Research and Development in the road to transform Singapore into a leader in the Halal market. Focus of this study on non-food products, which has the capability to expand from its own niche market to a global market, especially in a commercial hub like Singapore. For this reason, non-Muslims entrepreneurs in the halal industry need to have a clear understanding and the right perception of the Halal Concept for it would contribute towards the creation of a halal business environment in Singapore.
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