When Halal is mentioned, many people immediately think of countries like Malaysia, Indonesia, or the Middle East. However, in the context of restructuring global supply chains and strong growth in Halal consumer demand, Vietnam is emerging as a promising destination for international investors, businesses, and partners.
According to the State of the Global Islamic Economy Report 2025/2026, total spending by Muslim consumers worldwide reached $2.6 trillion in 2024 and is projected to increase to $3.56 trillion by 2029, with an average growth rate of approximately 6.5% per year.
The market is growing — and needs more suppliers.
In 2024, member states of the Organization of Islamic Cooperation (OIC) imported approximately $421.5 billion worth of Halal products and services. This figure is projected to increase to over $616 billion by 2029 — a market that continues to expand and requires new manufacturing and supply partners.
★ MOST IMPORTANT POINT
$421.5 billion → $616 billion (2024–2029): OIC bloc’s Halal import demand is opening up real opportunities for new suppliers like Vietnam.
Advantage 1: A major exporter of agricultural products and food.
Vietnam is one of the world’s leading exporters of rice, coffee, pepper, cashews, tropical fruits, seafood, and processed foods. In 2024, Muslim consumers spent approximately US$1.525 trillion on Halal food and beverages — projected to reach US$2.058 trillion by 2029.
Photo: Container ships at the port — OIC market opportunities
Advantage 2: Central location in the world’s most vibrant Halal region.
For many consecutive years, Malaysia has topped the Global Islamic Economy Indicator, while Indonesia—the country with the world’s largest Muslim population—has 92 mutual recognition agreements with 24 countries. Vietnam is situated right in the middle of this region, conveniently connected to Malaysia, Indonesia, Brunei, Singapore, and Northeast Asia.
Advantage 3: Halal tourism opens up a promising market.
Spending on Muslim-friendly travel reached approximately US$249 billion in 2024 and is projected to increase to US$424 billion by 2029 — a rise of over 70% in just five years. Vietnam is an attractive Asian destination with its natural beauty, rich culture, competitive costs, and well-developed resort infrastructure.
★ REMEMBER
Halal tourism has grown by more than 70% in five years — one of the fastest-growing tourism segments in the world.
Advantage 4: Khanh Hoa has the potential to become Vietnam’s Halal gateway.
With Cam Ranh International Airport, a deep-water seaport system, modern tourism infrastructure, the capacity to host international conferences, and strengths in fisheries and food processing, Khanh Hoa has all the necessary foundations to connect Halal tourism, trade, and logistics. This is also why Nha Trang was chosen as the venue for the Vietnam Halal Tourism Conference 2026.
Advantage 5: A wave of investment is pouring into the Halal industry.
In 2025 alone, the world recorded 346 investment deals in sectors within the Halal ecosystem with a total value of approximately $13.1 billion — focusing not only on food production but also expanding into tourism, logistics, technology, and Islamic finance.
Photo: Vietnamese terraced rice fields — an agricultural advantage.
Opportunities will go to those who prepare early.
As many countries are proactively building Halal ecosystems, Vietnamese businesses have the opportunity to participate from the early stages, build competitiveness, and establish relationships with international partners before the market becomes more competitive.
Halal is not just a trend in the Islamic market. It’s an opportunity for Vietnam to diversify its export markets and assert its position in the global value chain. The question is no longer “Should Vietnam participate?”, but “How quickly will Vietnam participate?”.
REFERENCES
— State of the Global Islamic Economy Report 2025/2026, DinarStandard.
— Organization of Islamic Cooperation (OIC) — member trade figures.
— Content analysis & editing: Halal Hub Vietnam.
