Turkey’s share in the world halal market has exceeded 150 billion dollars

The size of the world halal market, which includes many sectors from finance to food, tourism to textile, cosmetics to medicine, medicine and chemistry, has exceeded 7 trillion dollars. The halal market, which is expected to reach 10 trillion dollars in the next 5 years, is also expected to shape the global market. Turkey, on the other hand, has tripled its share in this market in the last 5 years, reaching over 150 billion dollars. It is aimed to increase the current share of Turkey to over 400 billion dollars in 5 years with the studies carried out and events such as Halal Expo. World Halal Summit Council Chairman and Discover Events Chairman of the Board Yunus Ete, in his evaluation of the 8th World Halal Summit and the 9th Organization of Islamic Cooperation (OIC) Halal Expo, drew attention to the fact that the world halal market is moving towards a size of 10 trillion dollars. Stating that the world halal market has grown more than twice in the last 5 years, Ete said that COVID-19 was also effective in this rapid growth. Stating that the world halal market is running towards 10 trillion dollars, Ete said, “Islamic finance has reached a size of 3.5 trillion dollars, the food and beverage industry has reached a size of 2 trillion dollars, the halal tourism industry has reached a size of 400 billion dollars, the cosmetics industry has reached a size of 200 billion dollars, and conservative clothing has a size of over 240 billion dollars. expected to reach. The halal economy is also expected to shape the global market in the near future.” he said. Ete explained that they realized the potential in this market years ago and started studies for the Halal Summit and Fair 10 years ago, and noted that with the organization they organize regularly every year, they have made Turkey the base of the world halal market and contributed to Turkey’s increase in its share in the halal market. . Stating that Turkey’s share in the halal market has been increasing every year, Ete said: “Turkey’s share has already exceeded 150 billion dollars. Considering that the market size is 7 trillion dollars, you can see that there is a very big cake here. So we still have a long way to go. We aim to increase Turkey’s share in the halal market to over 400 billion dollars in 5 years, with the active work of the Halal Accreditation Agency, which continues its activities in our country, and the events we organize such as Halal Expo.”

Nearly 500 companies from 40 countries will participate

Explaining that the 9th OIC Halal Expo will be held at the Istanbul Expo Center on 24-27 November 2022 this year, Ete said, “We will organize our organization under the coordination of the Islamic Countries Institute of Standards and Metrology (SMIIC) and the Islamic Trade Development Center (ICDT). We organize in cooperation. Nearly 500 companies from nearly 40 countries will participate in the organization with stands. As in 2021, we expect a total of 40 thousand visitors, nearly 9 thousand of whom are foreigners, for 4 days from more than 90 countries this year.” said.