Vietnamese Firms Eye Halal Market in MENA

The Middle East-North Africa (MENA) region presents significant opportunities for Vietnamese businesses in the rapidly expanding Halal food market, Vietnam Plus revealed yesterday.

A report from Coherent Market Insights projects the market will grow at 9.15% annually, increasing from $192.6 billion in 2022 to over $228 billion by 2024.

Egypt, home to over 106 million people, boasts a largely open regulatory environment for Halal food, focusing mainly on livestock and poultry standards. Meanwhile, Saudi Arabia leads the region with a Halal food market expected to reach $60.03 billion by 2024, with a projected annual growth rate of 3.8% from 2023 to 2029.

Vietnamese Ambassador to Saudi Arabia, Dang Xuan Dung, emphasized the potential for Vietnamese exports, highlighting products such as lamb, goat, beef, processed seafood, instant noodles, beverages, confectionery, and cosmetics. This growing market offers a promising avenue for Vietnamese firms to expand their reach in the Halal sector.