Spire CEO’s talk highlights entrepreneurial opportunities in the global Halal market.

1. 1
Halal Food
Opportunities for Entrepreneurs
Prepared for:
Anderson Junior College MLDDS
Prepared by:
Spire Research and Consulting
Date:
24 March 2017

2. 2
Overview of
Spire

3. 3
Spire Research and Consulting
The leading research-based consultancy in emerging markets
We were founded in the year 2000.
We have 100 employees in ten full-service offices.
We serve Global Fortune 1000 firms, governments and other
leading organizations.
Our opinions frequently appear in print, television and radio
media.
We provide a broad spectrum of research and consulting
solutions for market growth and entry.

4. 4
Research and Consulting Solutions
COMPETITOR
ANALYSIS
BUSINESS
PARTNER
SELECTION
CORPORATE
SOCIAL
RESPONSIBILI
TY
CONSULTING
CHANNEL
HEALTH
MANAGEMEN
T
SUPPLY
CHAIN
MANAGEMEN
T
CONSULTINGKNOWLEDGE
PROCESS
OUTSOURCIN
G
GEO-
MARKETING
DECISION
ANALYTICS
MARKET
SIZING AND
FEASIBILITY
PRICE
RESEARCH
MARKET
ENVIRONMEN
T RESEARCH
THOUGHT
LEADERSHIP
CONSULTING
CUSTOMER
DECISION
DYNAMICS
ANALYSIS
COUNTRY
RESEARCH
CONSUMER
RESEARCH
CUSTOMER
VALUE
CO-CREATION
CONSULTING
VALUE CHAIN
ANALYSIS
ANTI-
COUNTERFEIT
CONSULTING
HOLISTIC MARKET
ENVIRONMENT
RESEARCH
ETHNOGRAPHY
CROSS-
BORDER
CONSULTING
GO-TO-
MARKET
PLAYBOOKS

5. 5
Spire’s esteemed clients
Private sector

6. 6
Spire in the news
A thought leader in the region
Spire regularly appears in print, TV and radio media to address economic and business subjects in
Asia. Spire executives are also frequent speakers at regional conferences and seminars.

7. 7
Global Halal
Market &
Opportunities

8. 8
Global addressable market for Halal products
A large, young and growing market
Global Muslim population: 1.6 billion people
Rising middle-class as a result of economic growth
Global Halal food market is valued at USD 1.1 trillion.
Growth in Muslim population (young median age – 60% under 30 in 2011) and purchasing
power in:-
European Union
North America
Turkey
Indonesia
Bangladesh
For example, combined disposable income of American Muslims was USD 98 billion in 2012.
With nearly one billion Muslims or close to two thirds of the global Muslim population, Asia’s
Halal market has been mainly driven by India, Malaysia, Pakistan, Indonesia and China.
This Asian Halal market is worth approximately USD 420 billion (in 2013) and is expanding
rapidly.

9. 9
Major Halal food exporters
Countries and companies are positioning themselves as Halal
food export hubs
Thailand has become the world’s fifth largest Halal food producer – it
has an estimated 5.6 per cent share of the global Halal food market.
The Thai government set up the Halal Standard Institute of Thailand in
2003 to ensure proper development and certification for national Halal
food.
In Singapore, Singapore Malay Chamber of Commerce and Industry
(SMCCI), SPRING Singapore and IES are setting up a global Halal food
export hub to enable companies to share resources for product
development, production and distribution. Local food firms that are
keen to scale up their Halal exports would be identified.
Singapore Halal food exporters would use the MUIS certification
Companies are conducting Halal food R&D to create Halal versions of
food products like soy sauce.
A Japanese firm that makes flavours and fragrances for food and
other products officially opened a $60 million facility in Singapore
in 2014.

10. 10
Major Halal food exporters (continued)
Countries are positioning themselves as Halal food export hubs (continued)
Warees Halal, a division of MUIS’ subsidiary Warees Investments Pte Ltd, has
been given the task of helping companies to attain certification and carries out
audits for MUIS in Singapore.
Warees Halal leverages on the existing Muis eHalal System to manage all
aspects of the Halal Certification Process.

11. 11
Middle East
The GCC and other Middle Eastern countries import a great deal of Halal Food
The Middle East imports 80 per cent of its food requirements, making it a major segment for
global Halal food.
Annual food imports are projected to double from USD 25.8 billion in 2010 to reach USD 53
billion in 2020 – with total Halal meat imports exceeding 1 million metric tons annually.
Countries of interest include Egypt (largest population), Turkey (one of the largest economies),
Saudi Arabia, the UAE and Iran (growing with easing of Western sanctions).
The Gulf Co-operation Council (GCC) is a good economic bloc to export Halal products to – it
includes Saudi Arabia and the Gulf states.

12. 12
Europe
Europe’s Muslim population is growing
The burgeoning European Halal food market has made many Western countries take notice.
Big grocery retailers in the United Kingdom like Sainsbury’s, Morrisons and Tesco sell Halal
food ranges at selected stores, spanning categories which range from baby food to Halal
meat.

13. 13
Other Halal products than food
Cosmetics, Skincare and Pharmaceuticals present opportunities
Cosmetics: More consumers are aware that cosmetics might contain alcoholic substances or
products derived from animals forbidden by Islam. According to 2013 data, the Halal
cosmetics and personal care market is worth approximately USD 13 billion with an annual
growth rate of 12 percent.
Halal pharma and healthcare products are in demand not just from Muslims but also from non-
Muslims who value wellness products that do not harm the body in the long-term. As at 2013,
the Halal pharmaceutical market was estimated at USD 34 billion – and growing.
Halal logistics is a growing industry that has attracted the attention of global logistics players.
An international Halal logistics standard is therefore crucial. According to 2014 data, this
industry is projected to grow at a Compound Annual Growth Rate (CAGR) of 12.6 per cent to
reach about USD 539 million.
Other opportunities – tourism and Halal food-service in countries seeking more Muslim
tourists, like Japan, Korea, Australia, New Zealand, Taiwan, etc.

14. 14
Issues facing the global Halal product industry
Manpower, logistics and standards issues
Lack of single Halal food certification standard
Lack of trained manpower
Maintaining integrity throughout the Halal supply chain has become a major concern for
Muslim consumers, with fraudulent Halal certification and physical contamination of food
products on the rise. Hence, supply chain integrity needs to be protected right from the point
of animal slaughter and including the transportation, storage to the handling of Halal products.
This is an opportunity that can be addressed by:-
Halal logistics
Traceable products using, for example, Radio Frequency Identification Devices or
RFID

15. 15
Being a
successful
entrepreneur

16. 16
Embrace evolution
“Experience is not what happens to you but what you do with what happens to you.”
(Aldous Huxley)
Make time for strategy formation, build it into the process
Spire’s “heartbeat” includes weekly sales and marketing meetings, monthly leader’s meetings
and annual leaders’ retreats which are platforms for strategy review
Two major strategic reviews were undertaken: 2005 and 2010
Key: try to spot opportunities before they become generally known (e-payments, Myanmar, Iran,
channel and sales force management, social media research)
Don’t try to do everything (eg for Spire, data analytics and CRM)…
…be mindful of core competences and move into adjacent spaces, not unrelated ones

17. 17
Execution is the twin of strategy
Sharpen the saw on execution too
Share highlights and lowlights at meetings
Turn cultivation of clients and networks into a teachable activity with best practices
Take brand building seriously
Website and SEO
Social media
Collaterals like name cards and souvenirs
Spire events and collaboration with external event organizers
PR and media cultivation
“Happy families are all alike but unhappy families are each unhappy in their own way.”
(Leo Tolstoy)

18. 18
Launch new solutions but keep them practical
How to develop Intellectual Property?
Avoid old wine in new bottles – be honest about what a solution is and is not
Learn from events, clients, peers, employees, the internet…but don’t ignore books
Not every new solution need be completely new, many can be refinements and
improvements on old solutions
Many new solutions that Spire now offers grew out of old ones, transformed through self-
reflection, client feedback and research
Go To Market consulting
Ethnographic research
Channel health measurement
Supplier research

19. 19
Grow an international network organically,
be skeptical about shortcuts
Managing offices overseas
Build a regular schedule of review meetings – weekly or monthly
There is no substitute to being present – schedule regular trips
Invest in local business development but gradually, and expect results in a gradual curve
Hiring staff to man overseas offices
Try different approaches – open recruitment, recruitment agencies, networks, posting
staff from one office to another
Deploy more experienced staff to mentor staff in a new office, to expose them to different
leadership and mentorship styles
Embrace diversity and see it as a source of strength and vice versa
If everyone agrees all the time it means that either some are not thinking, some are
not caring or both

20. 20
Never over-reach
Be skeptical about quick fixes and gold rushes
If there is a stampede towards some new market or business space, it is probably already
Red Ocean
Be wary of “big market bias”
One swallow does not make a summer – investigate why you succeeded and not just why
you failed
Never over-extend your limited management resources, eg by setting up too many new
offices too quickly
Always be conscious of cash flow

21. 21
Tel: (65) 6838 5355
Fax: (65) 6838 5855
78 Shenton Way #20-01
Singapore 079120
sg.info@spireresearch.com
www.spireresearch.com