Halal economy can become competitive advantage

In recent years, the global economy has undergone a profound transformation, driven by shifting consumer values, rapid technological innovation, and evolving demographic trends.

- By Adam M. Tugio

Within this landscape, the Halal economy has emerged as a significant force shaping new patterns of global growth.

In 2025, the global Halal market value was estimated at $7.7 trillion. Whilst this figure is already staggering, it is projected to grow even further, to nearly $10.5 trillion by 2030. Indonesia alone accounts for over 11 per cent of the global Halal market, and exported more than $42 billion in Halal food in 2023.

With its rising population and economic growth, Indonesia’s contribution towards the global market will continue to surge. The growth of the market is also taking place in other Muslim-majority countries, in particular in the countries of the Organization of Islamic Cooperation, where 80 per cent of global Halal consumption take place.

Yet, recent data have shown an interesting trend. Significant growth is occurring across the continent, both in supply and demand, beyond the usual consumers. This exponential growth is due to several key factors that will continue to reshape the Halal landscape and global economy in the years ahead.

Firstly, demographic shifts play a massive role. By 2030, the global Muslim population is expected to exceed 2.2 billion people, or equal to one-quarter of the global population. Urbanisation, rising income levels, and changing consumption habits will keep the demand strong, especially for Halal food.