Non-fungible
Halal foods are meat and non-fungible food products that meet Islamic dietary standards. The market for these products is expected to expand rapidly. The rise of the Muslim population has a positive impact on the growth of the Halal industry. The increased spending capacity of Muslims increases the demand for Halal commodities. However, there are several challenges related to the Halal food industry. The increasing number of certifying bodies worldwide has led to a variety of certification procedures that have created confusion. In addition, the lack of standardization in the Halal sector has led to market failures.
The increase in demand for Halal-certified foods is mainly due to the assurance of food safety and hygiene. These foods also enjoy a favorable reputation among non-Muslim consumers. They are considered to be wholesome and healthier. This type of food has great potential to increase in popularity and become a major part of the global economy.
There is an increasing demand for Halal-certified foods in both the domestic and global markets. Moreover, Halal-certified foods are expected to reach unpredicted levels of consumption, which could enhance the overall sustainability of the food industry. It is therefore important to understand the benefits and limitations of the current Halal certification model. The paper will discuss how to improve the Halal certification process to ensure better food and environmental security and integrity. It will also look into the opportunities offered by blockchain technology, which can benefit the Halal food industry.
In addition to improving the sustainability of the Halal food industry, immutable technology such as the blockchain can provide security, traceability and reliability for the supply chain. This can increase the trustworthiness of Halal food products, boost food safety and assure full scale Halal integrity. In addition, it can also help develop protocols and standard procedures for the industry. It could lower costs and increase the competitiveness of the Halal food sector.
Blockchain technologies can also help open standard procedures, reduce complexity, and provide assurance that Halal-certified food is permitted. This can benefit small- and medium-sized food enterprises. It can also promote green production and help reduce global greenhouse gas emissions. In addition, it can help increase the efficiency of food supply chains and improve the ethical business practices of the Halal industry.
The global supply chain for Halal commodities is expected to become more reliable and dependable, which will allow the Halal industry to increase its share of the global market. Furthermore, it could provide new economic and social opportunities for the sector. By establishing a standard procedure for the management of the Halal supply chain, a Halal-certified product can be assured that it meets the highest quality standards. It can also help build trust and bridge cultures. This can improve economic and social sustainability and make the Halal food sector a more attractive investment.
In addition to improving the sustainability of Halal food production, the technology has the potential to lower costs and increase the competitiveness of the sector. It can also help to improve food safety and traceability and to guarantee hygienic and hysterically-safe foods.