World Halal Market is Rushing to 10 Trillion Dollars

Yunus Ete, Chairman of the Council of the World Halal Summit and Chairman of the Board of Discover Events, stated that the world halal market has reached a size of 7 trillion dollars and said, “The market is expected to reach 10 trillion dollars in the next five years. “It is predicted that the halal economy will shape the global market in the near future,” he said. Stating that they are working to increase Turkey’s share in this market, Ete said, “With the active work of the Halal Accreditation Agency and events such as the Halal Expo we organize, we aim to increase Turkey’s share in the halal market to over 400 billion dollars in five years.”

The size of the world halal market, which includes a huge sector from finance to food, from tourism to textiles, from cosmetics to medicine, pharmaceuticals and chemistry, has exceeded 7 trillion dollars. The halal market, which is expected to reach 10 trillion dollars in the next five years, is also expected to shape the global market. Turkey, which has become the base of the halal market with both its geopolitical location and the projects it carries out, has tripled its share in this market in the last five years, reaching over 150 billion dollars. Yunus Ete, President of the World Halal Summit Council and Chairman of the Board of Discover Events

Will shape the global market
Yunus Ete, Chairman of the World Halal Summit Council and Chairman of Discover Events, informed that the world halal market has more than doubled in the last 5 years. Explaining that the Covid-19 pandemic also had an impact on this rapid growth, Ete said, “One of the foundations of halal products is hygiene. During the pandemic period, people’s interest in healthy and hygienic products increased. This increased the interest in halal. Therefore, the market has entered a rapid growth momentum,” he said. Explaining that the world halal market is running towards 10 trillion dollars, Ete said, “It is estimated that Islamic finance will reach a size of 3.5 trillion dollars, the food and beverage industry will reach a size of 2 trillion dollars, the halal tourism sector will reach a size of 400 billion dollars, the cosmetics industry will reach a size of 200 billion dollars, and conservative clothing will reach a size of over 240 billion dollars.” is being done. “The halal economy is expected to shape the global market in the near future,” he said.

Türkiye rose to base position
Stating that they realized the potential in this market years ago and started working for the Halal Summit and Fair 10 years ago, Ete said, “With our organization that we hold regularly every year, we have made our country the base of the world halal market and contributed to Turkey’s increase in its share in the halal market.” he said. Explaining that Turkey’s share in the halal market is increasing every year, Yunus Ete continued as follows:
“Turkey’s share has already exceeded 150 billion dollars. Considering that the market size is 7 trillion dollars, you can see that there is a very big cake here. So we still have a long way to go. “With the active work of the Halal Accreditation Agency, which continues its activities in our country, and events such as the Halal Expo we organize, we aim to increase Turkey’s share of the halal market to over 400 billion dollars in five years.”

500 companies from nearly 40 countries
Stating that the 9th Organization of Islamic Cooperation (OIC) Halal Expo Fair will be held at the Istanbul Expo Center between 24-27 November 2022 this year, Yunus Ete gave the following information about the scarf: “Our organization is carried out by the Islamic Countries Standards and Metrology Institute ( We organize it under the coordination of SMIIC) and in cooperation with the Center for Development of Islamic Trade (ICDT). Nearly 500 companies from nearly 40 countries will participate in the organization with stands. “This year, as in 2021, we expect a total of nearly 40 thousand visitors from more than 90 countries for 4 days, of which nearly 9 thousand are foreigners.”

Opportunity for young entrepreneurs
The 8th World Halal Summit will open its doors this year with the motto “For sustainable trade: Explore the development of the global halal industry in all its aspects”. More than 50 international speakers will make presentations in 11 different sessions of the summit. In addition, the International Chefs Olympiad will be held under the umbrella of the World Halal Summit with the participation of international chefs from nearly 40 countries. Conservative Fashion and Art Street, where conservative clothing and accessory companies will participate and introduce their products, will meet with its visitors. This year, as in 2021, a special Start Up Zone area will be allocated for start-ups to introduce their projects to the international investor base, creating opportunities for young entrepreneurs.

Source of the news: https://www.foodturkey.com.tr/2022/11/06/dunya-helal-pazari-10-trilyona-kosuyor/