Evaluating the impact of COVID-19 on halal food and beverage production: evidence from listed companies in Bursa Malaysia

The market for halal goods and services is expanding rapidly, offering lucrative opportunities for entrepreneurs and industry players. Despite significant market potential, both locally and globally, the halal sector faces substantial challenges, particularly from the impact of the COVID-19 pandemic. This study investigates the effect of the COVID-19 pandemic on the production of halal food and beverages by 30 companies listed on Bursa Malaysia, analysing data from 2011 to 2022. Employing ordinary least squares; OLS and quantile regression; QR methods, the study provides a comprehensive analysis of the pandemic's impact on the industry. The empirical results from both methods analyses reveal that the production levels of halal food and beverages were significantly affected by the COVID-19 pandemic, particularly during periods of high demand for halal products. The findings indicate a negative correlation between the pandemic and halal food and beverage production, with varying degrees of impact across different quantiles.