Global halal industry grows over 10% annually, says OIC official

The global halal industry is expanding at an annual rate of over 10%, said Ahmad Kawesa Sengendo, Economic Advisor to the Secretary General of the Organization of Islamic Cooperation (OIC), during the 2nd Azerbaijan Halal Business (AZHAB) Forum, Report informs.

He emphasized the importance of unlocking the full potential of the halal industry amid unprecedented and rapidly evolving economic, technological, and social realities:

"Today, halal is no longer solely a religious concept; it has become a global phenomenon. The 'halal' label has rightfully become a symbol of quality and health."

According to Sengendo, reports show that the halal industry grew from $3.2 trillion in 2014 to $4.7 trillion in 2020.

He stressed that the growth of halal economic activity offers great opportunities not only for the world"s 1.9 billion Muslims but for humanity as a whole.

In 2024, the top 10 halal product exporters are Brazil, India, the United States, Russia, Indonesia, Argentina, Turkey, Australia, China, and Malaysia. The top importers are Indonesia, Malaysia, Türkiye, Saudi Arabia, the United Arab Emirates, Egypt, Bangladesh, Algeria, Iraq, and Morocco-in that order.