Over the past two years, plant-based food consumption has grown by 49% across the EU, reaching a total sales volume of €3.6 billion.
GIES: Halal food market becomes a major part of global economy
2025-05-15
The State of the Global Islamic Economy (SGIE) report, produced by the Dubai Islamic Economy Development Centre (DIEDC) in collaboration with Reuters, indicates that global spending by Muslims across various sectors reached just under $2 trillion (US$1.9 trillion) in 2015, as reported by various sources. In the same year, the majority of the $1.17 trillion spent was on the halal food and beverage industry.As the global Muslim population continues to grow, so too is the demand for halal food—food (particularly meat) that complies with Islamic law, including its origin, the reason for the animal's death, and how it is handled in accordance with Islamic law. To be sure, reports estimate the global halal-certified food and beverage market to be worth $41.5 billion in 2015.
The halal food market is poised for further growth in the future, both in Muslim-majority countries and regions, and as halal food offerings become more mainstream, innovative products are emerging, such as the Ramadan Energy Bar, an innovative snack bar designed to help fasting Muslims maintain their energy needs from dawn to dusk. Developed by UK-based Fajr Foods, the bar's manufacturer claims it's "clinically proven" to control blood sugar levels for up to nine hours and maintain energy levels.
In addition, the SGIE report reassessed the Halal Food Index (HFI), which serves as a benchmark for assessing a country's halal food ecosystem. The HFI is determined not only by the strength of a country's halal food sector itself, but also by the potential for halal food to grow within each country's existing economic and social ecosystem. In the 2016 ranking, the UAE climbed to the top of the market with a score of 75, followed by Australia (63), Pakistan (56), Brazil (56), and Malaysia (55). Half of the top 10 countries are actually GCC countries: in addition to the UAE, Oman ranked sixth with a score of 54, while Saudi Arabia (50), Bahrain (45), and Qatar (45) ranked eighth, ninth, and tenth, respectively. Somalia rounded out the top 10, ranking seventh with a score of 51.
As one of the first industries to be recognized as a business sector compliant with halal regulations, the halal food market is maturing and attracting more stock investments, including Janan Meat in the UK (a leading UK-based halal lamb and mutton supplier), not to mention Malaysia’s Dagang Halal, which listed on the London Stock Exchange. Similarly, Abraaj Capital and Texas Pacific Group invested $400 million in the Saudi Arabian fast food chain Kudu.
Furthermore, the Halal food industry has also established international certification bodies to oversee individual certifiers and manage the growing and increasingly complex market. This has made the Halal food sector a true cornerstone of the Islamic economy and its main and largest pillar.
This topic will be discussed at the upcoming Global Islamic Economy Summit (GIES) 2016, which will be held at the Jumeirah Resort and Spa in Dubai on October 11 and 12. GIES is the premier forum for Islamic economics in the Middle East, organized by the Dubai Chamber of Commerce and Industry and the Dubai Islamic Economy Development Center, with Reuters as a strategic partner.