Money and Business

Halal market 2030: Expected growth to reach $10 trillion

The Secretary-General of the Makkah Halal Forum, Yousef Khalawi, revealed promising economic figures related to the future of the halal industry globally, noting that current estimates for the size of the halal market in 2025 have reached $7 trillion, with strong expectations that this figure will jump to $10 trillion by 2030. These statements reflect the rapid growth witnessed by this vital sector, which is no longer limited to food alone, but now includes broad and multiple sectors.

Rapid growth and expansion of the concept

Speaking to Al Arabiya Business on the sidelines of the forum, Khalawi explained that this significant growth stems from the expansion of the "halal economy" concept to encompass tourism, cosmetics, pharmaceuticals, and Islamic financial services, not just food and beverages. This expansion is attributed to increased global awareness of the quality and health standards of halal products, coupled with the growing Muslim population worldwide, creating substantial consumer demand that drives production and investment in this sector.

The Kingdom's vision and the centrality of Mecca

Khalawi emphasized that Saudi Arabia is leading a global movement in this area through its Vision 2030, which aims to make the Kingdom a global hub for the halal industry. He noted that this strategic direction was a major reason for the overwhelming response to the Makkah Halal Forum, where all exhibits were sold to international entities attracted by the event, reflecting international confidence in the Saudi market as a key gateway for this sector.

He added that choosing Mecca to host these events has profound implications, as there is no more sincere or appropriate platform than Mecca for economic leaders to meet and shape the future of this industry, stressing that this comes as an integration with other international platforms and not in competition with them, in recognition of the symbolism of the place in the hearts of Muslims.

From religious compliance to professional industry

Under the theme “Halal: A Professional Industry,” the third edition of the forum, organized by the “Manafe’a” initiative, focused on the need to transform the concept of halal from mere traditional religious compliance into a comprehensive industrial system. Khalawi explained that the sector’s future depends entirely on professional standards, governance, transparency, and building institutional trust, emphasizing the importance of developing financing, marketing, and operational mechanisms to ensure sustainable growth.

Initiatives to promote global awareness

As part of the forum's efforts to promote halal products globally, the "Halal Echo" event was launched. This initiative aims to collaborate with influencers and content creators worldwide to raise awareness about halal products and their advantages. This step is part of the "Benefits" initiative, which seeks to solidify the position of Makkah and Madinah as central hubs for finance and business in the Islamic world, under the direct patronage of the Minister of Commerce, Dr. Majid Al-Qasabi.

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