Malaysian Deputy Prime Minister Ahmad Zahid Hamidi has said that the global demand for halal products is steadily increasing, with projections estimating a market worth 5 trillion USD by 2030.
Malaysian Deputy Prime Minister Ahmad Zahid Hamidi (Photo: bernama.com)
Kuala Lumpur (VNA) – Malaysian DeputyPrime Minister Ahmad Zahid Hamidi has said that the global demand for halalproducts is steadily increasing, with projections estimating a market worth 5trillion USD by 2030.
Speaking to press on the sidelines of the regular cabinet meeting, AZahid, who is also Chairman of theMalaysia Halal Council, said that the global Muslim marketrepresented 24% of the world's population in 2022, amounting to 1.9 billionpeople, and is forecast to reach 2.2 billion by 2030.
He said with available potential and strength inthis area, Malaysia has to look within the context of halal productexports, given that the global market for such exports was valued at 3 trillionUSD in 2023 – quite a substantial amount, and it is anticipated to reach 5trillion USD by 2030.
He urged Bumiputera entrepreneurs should beaware of the vastness of the global halal market, which sees demand stemmingfrom both Muslim and non-Muslim consumers who place importance on cleanliness.
The Deputy PM said that he has also asked the Islamic Development Department of Malaysia (Jakim) to accelerate theissuance of halal certificates to Bumiputera entrepreneurs, under thecondition that they fulfil the guidelines outlined by the agency.
He also said the Rural and RegionalDevelopment Ministry has divided halal certification applications into fourcategories, namely High Critical, Critical, Semi-Critical, and Green Lane.“Certification schemes placed under the High Critical category, with an applicationreview period of 14, 10, five and three working days respectively, cover foodand beverage products, cosmetics, consumer goods, medical devices,pharmaceuticals, and food premises (hotel/ convention kitchen/ hospital).
ꦜ Malaysia has been a global market leader in theHalal food industry and has secured the top position in the Global IslamicEconomy Index for nine consecutive years.
In 2022, the total halal export value was 59.46billion MYR (12.56 billion USD), contributing 7.4% to the country'sgross domestic product./.
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Malaysian Deputy Prime Minister Ahmad Zahid Hamidi (Photo: bernama.com) 
