Opportunities to unlock the potential of the Halal market.
According to data released at the National Halal Conference "Leveraging Domestic Strengths and Strengthening International Cooperation to Build a Sustainable Halal Industry in Vietnam in 2024," the global Halal market is large, has great potential, and is diverse in its sectors. The number of Muslim believers is expected to reach approximately 2.02 billion in 2024, accounting for nearly 25% of the world's population, and is projected to reach around 2.8 billion by 2050. The global Halal economy is estimated to reach US$7.7 trillion in 2025 and is projected to reach US$10 trillion before 2028.
The tea growing area of My Lam Tea Joint Stock Company.
The market for Halal products is spread across all continents , from Muslim to non-Muslim countries, because Halal products meet many criteria regarding food safety, quality, and environmental protection. Therefore, Halal is considered a potential market for food-producing countries, especially those with advantages in exporting agricultural and aquatic products like Vietnam.
According to Mr. Loc Kim Lien, Deputy Director of the Department of Industry and Trade: The Government, ministries, and localities are actively promoting the development and implementation of important policies, strategies, and legal frameworks regarding Halal. Notably, on February 14, 2023, Prime Minister Pham Minh Chinh issued the "Scheme to Strengthen International Cooperation to Build and Develop the Vietnamese Halal Industry by 2030". This is the first scheme to provide major national-level strategic directions for mobilizing international resources to build and develop the Vietnamese Halal industry in a systematic, professional, and comprehensive manner; thereby helping Vietnam in general and Tuyen Quang in particular to participate more effectively in the Halal market. On April 24, 2024, the Ministry of Science and Technology announced the decision to establish the National Halal Certification Center, helping to unify state management in the field of Halal certification and create favorable conditions for Halal certification activities in Vietnam...
Potential products
Tuyen Quang is a province with rich potential for developing agricultural products and exports, contributing to the local economy's expansion into the international market. Currently, the province has key products such as green tea and black tea that are exported to the Halal market, meeting the strict requirements and standards of Muslim countries.
Every year, Song Lo Tea Joint Stock Company exports approximately 2,000 tons of tea to the Muslim market.
Mr. Ngo Duc Tu, Director of Song Lo Tea Joint Stock Company, said that the company has achieved great success in exporting tea to major Muslim markets such as Afghanistan, Pakistan, Malaysia, Iran, and Iraq. Of the total annual production of 5,000 tons of tea, the company exports approximately 2,000 tons to these markets, affirming its strong position and ability to meet international demand.
According to Mr. Tu, the company is currently implementing a Halal certification process to meet the specific requirements of Muslim countries, a prerequisite for its products to penetrate and thrive in these markets. Halal certification is not only a commitment to quality but also reflects respect for and adherence to the consumption habits of Muslims. Each region and country has its own Halal standards, so the company must conduct certifications tailored to each specific market.
Meanwhile, My Lam Tea Joint Stock Company annually exports over 50 tons of various types of tea to many demanding international markets such as the United States, Poland, the United Kingdom, Russia, and the United Arab Emirates. These are all markets that require high quality standards and have a significant presence of Muslim consumers. Conquering these markets not only affirms the reputation and quality of My Lam tea products but also opens up opportunities for sustainable development, meeting the diverse and stringent needs of global customers.
According to the Department of Agriculture and Rural Development, in addition to its main products of green tea and black tea, Tuyen Quang also possesses other potentially exportable items such as honey, pomelo, tea, male papaya flowers soaked in honey, dried bananas, lemon syrup, and kumquat syrup. Tuyen Quang's export market has expanded to many countries worldwide, including Afghanistan, Pakistan, the United States, the Russian Federation, the Netherlands, Taiwan, Iran, Indonesia, Brazil, China, Malaysia, Canada, Japan, and South Korea. This diversity demonstrates the competitiveness of local products and opens up significant opportunities for the province to develop a sustainable economy and improve people's lives through agricultural production and export.
Source: https://baotuyenquang.com.vn/thi-truong-halal-canh-cua-moi-cho-nong-san-201382.html
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