Global Halal Economy  Worth $8 Trillion, Expert Says

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Global Halal Economy Worth $8 Trillion, Expert Says

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The global halal economy has reached a significant milestone, valued at $8 trillion over the past nine years, according to Aylin Sengul, coordinator of the World Halal Summit. Sengul spoke at the Halal Expo 2024 in Istanbul, where she highlighted the rapid growth of the sector.

Organized by the Standards and Metrology Institute for Islamic Countries (SMIIC) and the Organization of Islamic Cooperation (OIC), in coordination with the Turkish Ministry of Trade, the event brought attention to the halal industry’s expanding reach. While traditionally associated with Muslim consumers, the halal market has attracted increasing interest from non-Muslims, drawn by the sector’s reputation for quality and reliability.

Sengul noted that when the event first began, the global halal economy was valued at approximately $1 trillion. With efforts in halal certification and accreditation, the economy is projected to grow to $12 trillion in the next five years.