Unlocking the multi-trillion-dollar Halal market.

DNVN - The seminar "Halal - A Gateway to the Global Market for Businesses," organized by the Da Nang Department of Industry and Trade in collaboration with LuLu Group International and the Vietnam Halal Certification Office on June 11th, provided state management agencies and the business community with useful information about this market of billions of people.

The Halal market has great potential.

According to Huynh Xuan Son, Deputy Director of the Da Nang Department of Industry and Trade, in the context of continued global economic fluctuations, diversifying export markets is becoming an urgent requirement for Vietnamese businesses. Among these, the Halal market is considered one of the most promising markets today, with over 2 billion consumers in more than 110 countries and territories.

Huynh Xuan Son, Deputy Director of the Da Nang Department of Industry and Trade, delivered the opening remarks at the workshop.

Notably, according to the Halal Certification Office (HCA) in Vietnam, spending on Halal products and services has consistently grown strongly over the years. The Islamic consumer economy reached US$2.6 trillion in 2024 (of which food and beverages accounted for 74%, pharmaceuticals and cosmetics 10%, and Islamic-friendly tourism 16%) and is projected to reach US$3.56 trillion in 2029.

Not limited to the food sector, Halal has now developed into a comprehensive economic ecosystem, encompassing areas such as beverages, cosmetics, pharmaceuticals, logistics, tourism, hospitality, finance, and many other service industries. This presents enormous growth potential for Vietnamese businesses in general and those in Da Nang in particular.

According to Ms. Nguyen Thi Tra My - Quality Management Department, HCA Vietnam, Vietnam has many advantages to participate more deeply in the global Halal supply chain thanks to its abundant agricultural and aquatic raw materials, increasingly improved production capacity, and participation in many free trade agreements (FTAs) with many countries and regions around the world.

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However, the reality shows that the number of businesses effectively accessing and exploiting the Halal market remains modest; many businesses still face difficulties in accessing market information, certification standards, production processes, traceability requirements, as well as specific regulations of each country and region.

Businesses need to be proactive.

Recognizing the potential and opportunities of the Halal market, the Government, ministries, and localities have actively implemented the project "Strengthening international cooperation to build and develop the Vietnamese Halal industry by 2030"; while also promoting trade, providing market information, supporting businesses in accessing standards and certification systems, and connecting with international partners.

Ms. Nguyen Thi Tra My introduced the potential of the Halal market.

Regarding Da Nang, Mr. Huynh Xuan Son stated that, after expanding its development space, the city possesses many outstanding advantages in industrial production, food processing, seafood, distinctive agricultural products, logistics, seaports, aviation, and tourism. These are areas with great potential to participate in the Halal value chain in the region and the world .

In particular, Da Nang is aiming to become a high-quality service, logistics, and tourism center, as well as an international trade hub for the Central region. Therefore, gradually developing a production, business, and service ecosystem that meets Halal standards will not only contribute to expanding export markets but also create conditions to attract tourists, investors, and partners from Muslim countries.

However, to effectively exploit this potential, businesses need to proactively raise awareness, invest in improving production processes, build quality management systems that comply with Halal standards, and strengthen connections with certification organizations, distributors, and international partners.

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"Through the discussions at the workshop, the Da Nang Department of Industry and Trade hopes to create conditions for state management agencies and the business community to have more basis for building appropriate production and business strategies, gradually meeting Halal standards, expanding export markets and enhancing competitiveness in the context of increasingly deep international economic integration," said Mr. Huynh Xuan Son.

Hai Chau

Source: https://doanhnghiepvn.vn/kinh-te/khai-pha-thi-truong-halal-hang-ngan-ty-usd/20260611100412588