Thailand eyes greater share of growing global halal market by 2027
In 2024, Thai food exports to Organization of Islamic Cooperation countries reached $7.13 billion
BANGKOK, Thailand (MNTV) – – Thailand’s Commerce Ministry is working to boost the country’s presence in the fast-growing global halal food market, expected to hit $3.1 trillion by 2027, viewing it as a “golden opportunity” for economic growth, reports Borneo Bulletin.
Director General of the Trade Policy and Strategy Office at the Commerce Ministry Poonpong Naiyanapakorn highlighted Thailand’s strong position in the sector. In 2024, Thai food exports to Organisation of Islamic Cooperation (OIC) countries reached $7.13 billion, marking robust 6.3 % growth.
“This solidifies Thailand’s presence in the OIC market and signals a golden opportunity for Thai entrepreneurs to capitalize on surging global demand for halal products in 2025 and beyond,” Poonpong said.
He emphasized that halal food’s appeal extends beyond Muslim consumers due to its adherence to strict Islamic production principles, ensuring cleanliness and hygiene.
This perception of safety and quality is attracting a wider consumer base, fuelling continuous growth in demand, particularly within OIC nations.
Globally, halal food and beverage exports to OIC countries totalled $247.362 billion in 2024, up 6.9% from 2023. Whilst major exporters include Brazil, India, China, Turkiye, and the United States, Thailand currently ranks as the 10th largest food exporter to the OIC market.
Key importers of halal food and beverages within the OIC include Indonesia, the United Arab Emirates (UAE), Malaysia, Saudi Arabia, and Turkiye.
For Thailand, halal food exports represent a crucial economic and trade strategy. Indonesia, Malaysia, Iraq, the UAE, and Saudi Arabia collectively form Thailand’s largest markets, accounting for 68.5% of its OIC food exports. Key products include rice, tinned tuna, sugar, pet food, and seasonings.
Thailand maintains a competitive edge through its product quality, food processing capabilities, and credible halal certification system.
OIC countries, particularly Saudi Arabia, the UAE, and Qatar, represent high-potential markets with substantial average per capita purchasing power and demand for internationally standardized halal food.
Once seen as a niche segment, the global halal market has become mainstream, fueled by the rising Muslim population and growing per capita spending among Muslim consumers around the world. United Nations statistics for 2024 show Muslims account for 1.907 billion people, or 23.5% of the world’s total population of 8.119 billion.
This figure is projected to surge to 2.761 billion by 2050, representing nearly 30% of humanity and underscoring the immense potential of the halal market.
According to Salaam Gateway, a leading Islamic economy research institute, the global halal product market was valued at $2.35 trillion in 2024.
Food and beverages dominate this expansive market, accounting for $1.38 trillion – nearly 59% of total halal market value. Other significant sectors are fashion, media and recreation, tourism, pharmaceuticals, and cosmetics.
By 2027, halal food and beverages market is expected to reach $1.89 trillion.
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