Today's Halal industry is thriving and full of vitality. Opportunities for economic growth keep emerging, and consumer awareness of Halal products continues to rise.
International organizations are beginning to embrace Halal values, which align with Islamic faith and whose core lies in promoting social well-being, protecting the environment and upholding business ethics.
Asia-Pacific's position in the global Halal market is particularly prominent: based on forecast data, by 2030 the economic value of the Asia-Pacific Halal market will reach US$2.8 trillion, about 56% of the global Halal market (US$5.0 trillion).
Notably, the economic value of the Asia-Pacific Halal market is projected to grow from US$1.6 trillion in 2018 to US$2.8 trillion in 2030, corresponding to a compound annual growth rate (CAGR) of about 4.8%. This growth trajectory indicates that Asia-Pacific will continue to serve as one of the core engines of global Halal industry expansion, with market potential and industry spillover effects that cannot be overlooked.
FAQ
- What is Asia-Pacific's position in the global Halal industry?
- Asia-Pacific stands out in the global Halal market: based on forecast data, by 2030 the economic value of the Asia-Pacific Halal market will reach US$2.8 trillion, about 56% of the global Halal market (US$5.0 trillion). It is projected to grow from US$1.6 trillion in 2018 to US$2.8 trillion in 2030, at a CAGR of roughly 4.8%. This shows that Asia-Pacific will remain one of the core engines of global Halal industry expansion.