Food firms from Muslim-majority Malaysia, are expected to be big winners from a rush of Muslim travelers to Japan for the Olympics and Paralympic Games, from late July to September.
Malaysia wants to use the Games as a springboard to boost halal exports, which include food and cosmetics, by about a fifth to $12 billion this year. It exported halal goods worth $604 million to Japan in 2018, 90% of it food and food ingredients.
Malaysia is the only country to have reached a halal cooperation deal with Tokyo for the Games.
Malaysia’s halal trade has lagged behind non-Muslim nations such as the United States, China and Brazil. The value of the global halal market is projected to reach $2.6 trillion by 2023, nearly double 2017 levels, according to Dublin-based data firm Research and Markets.