Thailand Eyes Bigger Role in $3.1 Trillion Global Halal Market

Thailand Eyes Bigger Role in $3.1 Trillion Global Halal Market
………………

In a strategic move aimed at reshaping its economic landscape, Thailand has announced plans to expand its footprint in the global halal market, which is projected to exceed $3.1 trillion by 2027. The initiative, led by the Ministry of Commerce, reflects a growing recognition of the halal economy as a comprehensive, value-driven sector with high growth potential.

With Muslims comprising over 23% of the world’s population, Thai officials see the halal market not just as a niche but as a dynamic global economy encompassing food, pharmaceuticals, cosmetics, fashion, and tourism. The ministry described the shift as a “golden opportunity,” highlighting the growing consumer demand for products that meet Islamic standards of purity, safety, and ethical production.

Halal-certified food and beverage products alone accounted for $1.38 trillion in spending in 2024, with forecasts suggesting this will rise to $1.89 trillion by 2026. Thailand has already made significant inroads: in 2024, its food exports to member states of the Organization of Islamic Cooperation surpassed $7.1 billion.

Officials emphasize that halal products are increasingly appealing to a broader demographic beyond Muslim consumers, due to their association with quality, cleanliness, and ethical sourcing. Thailand aims to leverage this trend by aligning its production systems with Islamic principles, thereby boosting its competitiveness in Muslim-majority markets and beyond.

With the global Muslim population expected to reach 2.76 billion by 2050, the halal economy is becoming a key driver in reshaping international trade and production standards. Thailand’s proactive engagement positions it to play a leading role in this evolving global economic paradigm.