The Halal market still has enormous potential.
Halal is no longer a niche market exclusively for the Muslim community but is becoming a global consumer trend. The Halal market is projected to reach approximately US$10 trillion by 2034. With many Muslim-majority countries also being partners in free trade agreements that Vietnam participates in, Vietnamese businesses are facing a great opportunity to expand their export markets.
In recent years, many Vietnamese businesses and cooperatives have proactively conducted direct surveys in Muslim countries to understand consumer needs and habits in order to select suitable products. To date, Vietnam has signed 18 Memoranda of Understanding (MOUs) on Halal, established a National Halal Certification Center, and developed 7 national Halal standards, creating an important foundation for the development of this market.
According to Mr. Vu Ba Phu, Director of the Trade Promotion Department ( Ministry of Industry and Trade ), trade turnover between Vietnam and member countries of the Organization of Islamic Cooperation is expected to reach approximately US$24.7 billion in 2025, with exports accounting for about US$10.9 billion. Many organizations estimate that Vietnam's export potential to Halal markets could reach approximately US$34 billion in the near future. However, current exports of Halal products only amount to about US$700 million, equivalent to about 2% of this potential.
According to Mr. Phu, this shows that there is still great potential for development, but it also reflects many difficulties that need to be addressed soon, especially the requirements for standards, certification, and building a production chain that complies with Halal regulations. Nevertheless, in reality, some businesses have approached the Halal market strategically and achieved positive results. For example, F&G Vietnam, after receiving Halal certification in 2018, has built a stable customer base with a high level of loyalty. Meanwhile, Vinamilk is also considered a prime example of systematic investment in this market, with the Middle East currently accounting for a large proportion of the company's export revenue.
An opportunity to transform potential into reality.
Mr. Bui Nguyen Anh Tuan, Deputy Director of the Department of Domestic Market Management and Development (Ministry of Industry and Trade), stated that Vietnam has a favorable foundation for developing the Halal market. By 2025, Vietnam's exports of agricultural, forestry, and aquatic products are projected to reach over US$70 billion, a 12% increase compared to the previous year. Many key products such as rice, coffee, cashew nuts, pepper, fruits and vegetables, seafood, processed foods, and non-alcoholic beverages have the potential to develop according to Halal standards if properly standardized. Besides the advantage of raw materials, many Vietnamese businesses are already familiar with stringent international standards such as HACCP, ISO, BRC, GlobalG.AP, ASC, BAP, EU, and FDA. Therefore, with a suitable roadmap, integrating Halal requirements is considered feasible.
According to Mr. Tuan, in the period 2026-2030, the UAE could become a "strategic springboard" for Vietnamese Halal goods after the Vietnam-UAE Comprehensive Economic Partnership Agreement (CEPA) comes into effect. This will create favorable conditions for Vietnam to organize specialized trade promotion delegations, build Halal product showrooms, test transit warehouses, and connect with retail systems, hotels, airlines, and food distributors in Dubai and Abu Dhabi.
“With the Go Global 2026-2030 program, the Halal Project until 2030, along with the certification system and signed trade agreements, Vietnam has an important foundation to transition from “Halal potential” to “actual Halal capacity.” If properly organized, Halal will not only open opportunities for agricultural products, food, and tourism, but can also expand to logistics, technology, cosmetics, medicinal herbs, and many other service sectors, thereby gradually making Vietnam a reliable link in the global Halal supply chain,” Mr. Tuan said.
Source: https://baophapluat.vn/mo-duong-chinh-phuc-thi-truong-halal.html
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