Saudi Press

Saudi Arabia and the world
Friday, Aug 08, 2025

Soaring demand for halal products to ensure more investment in the sector

Soaring demand for halal products to ensure more investment in the sector

The growing demand for halal products and services will create more opportunities for investment in the halal industry as well as avenues for the export and intra-trade of halal products among member countries and Muslim communities, said Amer Bukvic, the acting chief product and partnership officer of the Islamic Development Bank.
“Valued at $1.27 trillion in 2021 and projected to reach $1.67 trillion in 2025, the food sector is the largest component of spending on halal food by Muslims,” said Bukvic on the sidelines of the IsDB annual meetings in Jeddah.

“The development of a sustainable halal industry in IsDB member countries requires the adoption of enabling ecosystem(s) at the national level, including long-term strategies supporting policies for qualified human capital, the institutional framework for standardization, certification, accreditation, and awareness program(s) for the various stakeholders and consumers, as well as the use of new technology in order to increase efficiency in (the) halal manufacturing and distribution process and (to) improve visibility, and consumer trust.”

Bukvic added: “There is a need to address two important challenges facing the halal economy, namely financing the halal industry and effective management of the halal supply chain.”

Many IsDB member countries are making conscious efforts to develop their halal economies and capture the potential of the market.

Malaysia, the UAE, Saudi Arabia and Turkey are among the most active nations and have clear visions of becoming hubs for the global halal trade.

Even non-majority Muslim countries like Thailand, Japan, and South Korea aim to position themselves as key players in the halal market. Australia and Brazil, meanwhile, are among the top halal meat and poultry suppliers to countries in the Middle East.

Fahad Al-Nuhait, CEO of the PIF-funded Halal Products Development Co., said that domestically the HPDC aims to invest in all stages of the halal aquatic sector, capitalizing on opportunities to achieve sustainable integration across Saudi Arabia and the supply chain.

“From a global perspective, we strive to position the Kingdom as a center of the halal products industry, which contributes to multilateral growth in target markets. With HPDC participation in the private sector forum, we seek to build partnerships with key stakeholders in the health sector within and outside Saudi Arabia,” he said.

“This partnership is not only a demonstration of the HPDC initiative to strengthen the halal sector, but it’s also a purposeful measure that will improve and enhance the halal poultry sector in the Kingdom.”

Hairol Ariffein Sahari, CEO of Halal Development Corp. Malaysia said: “The global halal market size is projected to be at $5 trillion by 2030. By any means, this is a clear reflection of the need to harness collaborative efforts among the halal stakeholders and IsDB member countries in working towards a common cause, namely, to participate towards the growth of the global halal economy.”

HDC and IsDB took the task to develop an economic cursory assessment of halal ecosystems to identify the manufacturing and production readiness of the IsDB countries in order to become self-reliant, especially in the production of their own industry, including but not limited to food, beverages, pharmaceuticals, and personal care.

On the sidelines of the IsDB annual meetings, an event entitled “Unlocking IsDB Member Countries’ Potential to Tap into the Vast and Expanding Global Halal Industry” was organized as a component of the private sector forum to highlight the importance of halal business, in fostering the social and economic development of the IsDB member countries and the Muslim communities in non-member countries.

Two panel discussions entitled “How to Promote the Halal Industry Through Investment,” and “Innovations in the Halal Industry” were also held.

Ahmed Osilan, executive board member and managing director of Tanmiah, said during the first discussion that Saudi Arabia is the heart of the Islamic world, with investment capabilities and geographic proximity to more than 500 million consumers in neighboring markets.

“Eighty percent of the halal market products are produced in not necessarily halal countries, which gives an opportunity for us to work together as halal market players to provide quality products to the Islamic bloc — and not only the Islamic bloc, because halal products are also good for non-Muslims,” he said.

A memorandum of understanding was signed between the IsDB and the HPDC at the end of the event to showcase opportunities within Saudi Arabia’s halal sector and the halal industries of the IsDB’s member countries, with three main objectives identified including localization of the halal products industry in Saudi Arabia, enhancing the capabilities of the sector at the regional level, and providing opportunities for exporting halal products from the Kingdom to the world.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
×