For many years, when Halal was mentioned, many people viewed it as a “niche” market, serving only the Muslim community or limited to certain Middle Eastern countries. However, the latest figures from the State of the Global Islamic Economy Report 2025/2026 reveal a completely different picture.
Today, Halal has become a global economic ecosystem worth trillions of US dollars, spanning from food, tourism, logistics, pharmaceuticals, cosmetics to finance and technology.
An economy worth $2.6 trillion.
According to the State of the Global Islamic Economy Report 2025/2026, total consumer spending by Muslims across the Halal economy reached approximately $2.6 trillion in 2024. By 2029, this figure is projected to increase to around $3.56 trillion, representing a growth of nearly 37% in just five years.
Photo: Halal outdoor dinner
★ MOST IMPORTANT POINT
$2.6 trillion (2024) → $3.56 trillion (2029) — a growth of approximately 37% in just 5 years, driven not only by population but also by modern consumer trends.
Over 2 billion consumers are creating enormous demand.
The world currently has approximately 2 billion Muslims, living in over 100 countries and territories — one of the youngest populations in the world. Demand for Halal products and services will continue to expand not only in the Middle East but also in Southeast Asia, South Asia, Africa, Europe, and many other developing markets.
Food remains the “heart” of the Halal economy.
In 2024, Muslim consumers spent approximately US$1.525 trillion on Halal food. By 2029, this figure is projected to increase to US$2.058 trillion. This presents a particularly significant opportunity for Vietnam—a country with strengths in agriculture, fisheries, processed foods, and exports.
If they meet international Halal standards, many “Made in Vietnam” products have the potential to access lucrative markets such as Indonesia, Malaysia, UAE, Saudi Arabia, Qatar, or other OIC member countries.
Halal tourism — A new engine of growth
In 2024, spending on Muslim-friendly travel reached approximately $249 billion. By 2029, this market is projected to reach $424 billion, an increase of over 70% in just five years.
For Vietnam, this is an opportunity to develop Muslim-friendly hotels, Halal-certified restaurants, specialized tours, prayer spaces, family vacation services, and MICE tourism combined with trade promotion.
★ REMEMBER
Halal tourism has grown by over 70% in 5 years ($249 billion to $424 billion) — faster than the overall growth rate of the entire Halal industry.
Opportunities are not limited to exports.
Halal creates opportunities across the entire value chain: production, processing, packaging, logistics, e-commerce, financial services, certification, consulting, and digital transformation. That’s why more and more countries are investing in developing a Halal ecosystem instead of focusing on just a few products.
Vietnam is standing before a “window of opportunity”.
Vietnam possesses a strategic location at the heart of ASEAN, a system of FTAs with many major economies, world-leading agricultural and aquatic product production capacity, a modern food processing industry, developed logistics and port infrastructure, and a highly competitive tourism sector.
Photo: International container port — illustrating the scale of global trade.
Vietnam Halal Tourism Conference 2026 — Connecting Opportunities with Action
Trillions of dollars only truly become meaningful when they are translated into concrete opportunities for cooperation. This is also the goal of the Vietnam Halal Tourism Conference 2026, taking place in Nha Trang on July 8-9, 2026, bringing together certification bodies, regulatory agencies, associations, businesses, and international investors.
Halal is no longer a story of the future. It’s the market of the present, the opportunity of today, and the driver of growth for tomorrow.
REFERENCES
— State of the Global Islamic Economy Report 2025/2026, DinarStandard.
— Estimates of the global Muslim population — compiled from international research organizations.
— Content analysis & editing: Halal Hub Vietnam.
