The halal market, which is expected to reach 10 trillion dollars in the next 5 years, is also expected to shape the global market. World Halal Summit Council President and Discover Events Chairman of the Board Yunus Ete stated that the world halal market has run to 10 trillion dollars and said, “It is estimated that Islamic finance will reach a size of 3.5 trillion dollars, food and beverage industry 2 trillion dollars, halal tourism industry 400 billion dollars, cosmetics industry 200 billion dollars, and conservative clothing over 240 billion dollars. The halal economy is also expected to shape the global market in the near future.” used the phrases.
Yunus Ete, in his written statement, made evaluations about the 8th World Halal Summit and the 9th Organization of Islamic Cooperation (OIC) Halal Expo.
Noting that the world halal market has grown more than twice in the last 5 years, Ete noted that the Covid-19 epidemic also had an impact on this rapid growth. Ete said, “One of the foundations of halal products is hygiene. During the epidemic, people’s interest in healthy and hygienic products increased. This increased the interest in halal. Therefore, the market entered a rapid growth momentum.” used the phrases.
Noting that the world halal market is running towards 10 trillion dollars, Ete said, “It is estimated that Islamic finance will reach a size of 3.5 trillion dollars, food and beverage industry 2 trillion dollars, halal tourism industry 400 billion dollars, cosmetics industry 200 billion dollars and conservative clothing over 240 billion dollars. The halal economy is also expected to shape the global market in the near future.” made its assessment.
Noting that they realized the potential in this market years ago and started work for the Halal Summit and Fair 10 years ago, Ete 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 made the following assessments:
“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 the Halal Expo.”
“Approximately 500 companies from nearly 40 countries will participate in the organization with booths”
Noting that the 9th OIC Halal Expo Fair will be held at Istanbul Expo Center on 24-27 November 2022 this year, Yunus Ete said, “We are organizing our organization in coordination with the Institute of Standards and Metrology of Islamic Countries (SMIIC) and in cooperation with the Islamic Trade Development Center (ICDT). 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.” used the phrases.
According to the information given, the size of the world halal market, which includes a huge sector 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, which has risen to the position of the base of the halal market with both its geopolitical position and the projects it carries out, has tripled its share in this market in the last 5 years to over 150 billion dollars.
Sector players, who rolled up their sleeves to increase this share to over 400 billion dollars in 5 years, accelerated their work for the 8th World Halal Summit, the world’s largest halal organization, and the 9th Halal Expo Fair of the Organization of Islamic Cooperation.
The 8th World Halal Summit will open its doors this year with the motto “For sustainable trade: Explore all aspects of the development of the global halal industry”.
More than 50 international speakers will make presentations in 11 different sessions of the summit. In addition, the International Chefs Olympiad will be held with the participation of international chefs from nearly 40 countries under the umbrella of the World Halal Summit. Conservative Fashion and Art Street, where conservative clothing and accessory companies will participate and promote their products, will meet with visitors. As in 2021, a special Start Up Zone will be set aside for start-ups this year to introduce their projects to the incoming international investor mass, and an opportunity will be created for young entrepreneurs.
Source:https://www.trthaber.com/haber/ekonomi/helal-pazari-10-trilyon-dolara-kosuyor-716454.html
