Global halal market hits $8 trillion, set for rapid growth

The global halal market has reached $8 trillion, with projections to grow to $12 trillion within five years, according to organizers of the 10th Halal Expo and World Halal Summit in Istanbul.

Aylin Sengul, the summit coordinator, highlighted the sector’s appeal beyond Muslims, citing its reputation for being “healthy and safe.” The market has surged from $1 trillion in 2015, driven by growth in halal food, Islamic finance, fashion, and tourism.

Halal food alone was valued at $2.3 trillion in 2023, with expectations to more than double by 2030. In the U.S., a traditionally smaller market for halal products, the halal food market is projected to grow from $59.4 billion in 2022 to $88.9 billion by 2026.