Global Halal Economy Growth Opportunities

From a $1.90 trillion market in 2015, the global halal economy will expand to an approximate $4.60 trillion economy by 2030 under a baseline scenario, potentially reaching $4.96 trillion under an optimistic scenario. Aside from Organization of Islamic Cooperation (OIC) member countries, growth opportunities will increasingly emerge across non-OIC member countries, driven by growing halal product preference by non-Muslims, consumer awareness, and both policy momentum and private sector initiatives.

In this study, deep-dive trend analysis and growth opportunity insights focus on the sub-segments of halal foods, halal pharmaceuticals, halal tourism, and Islamic finance. Aside from foresight into key drivers and trends shaping the future of these sub-segments until 2030, the analysis also highlights country-specific policies and initiatives. Frost & Sullivan identified sector-specific growth opportunities, with digital transformation opportunities emerging as a recurring theme, whether blockchain-based solutions for halal foods traceability or Islamic fintech solutions.

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