SESRIC has released the report titled “Halal Industry in OIC Member Countries: Challenges and Prospects,” offering a comprehensive assessment of the industry’s current status, key challenges, and future outlook across OIC countries.

According to the report, the global Halal market was valued at approximately US$7.36 trillion in 2023 and is projected to reach nearly US$10.89 trillion by 2028. This growth is driven by demographic expansion, rising incomes, digitalisation, and increasing demand for ethical and sustainable products. With over 80% of global Halal consumption concentrated in OIC countries, the sector holds significant strategic importance for economic diversification, trade integration, and employment generation across the region.

The report identifies and analyses key segments of the Halal economy, including Islamic finance, Halal food, Halal tourism, and the broader Islamic lifestyle industry. Islamic finance remains the cornerstone of the Halal economy, with global assets reaching approximately US$6 trillion in 2024, around 95% of which are concentrated in OIC countries.

Despite its rapid growth, the Halal industry continues to face structural challenges, including fragmented regulatory frameworks, inconsistent certification and accreditation systems, limited technological adoption, and restricted access to Halal-compliant financing. Addressing these constraints is critical to strengthening governance, enhancing competitiveness, and improving the resilience of the global Halal ecosystem.

The report also reviews programmes and initiatives undertaken by OIC countries and key institutions, such as SESRIC, COMCEC, SMIIC, IsDB, and ICDT, to promote cooperation in standardisation, digitalisation, innovation, and capacity building, as well as to expand intra-OIC trade and investment. It further highlights emerging priorities, including digital transformation, sustainability, human capital development, and stronger support for small and medium-sized enterprises (SMEs).

Through evidence-based analysis and policy recommendations, the report aims to support policymakers, industry leaders, and development partners in fostering a resilient, ethical, and globally competitive Halal industry that contributes to sustainable and inclusive economic development across OIC member countries.

Online Electronic Version

• Halal Industry in OIC Member Countries: Challenges and Prospects (English)