Over the past two years, plant-based food consumption has grown by 49% across the EU, reaching a total sales volume of €3.6 billion.
Halal industry to account for 5.8% of Malaysia's GDP in 2020
2025-05-15
Halal industry expected to account for 5.8% of Malaysia's GDP in 2020
Data shows that Malaysia's halal industry is currently growing steadily at a rate of 5% per year and is expected to account for 5.8% of the country's GDP by 2020. Datuk Seri Jamil Bidin, CEO of the Halal Industry Development Corporation, believes that the halal food and service sectors are expected to drive growth in the industry, which currently contributes less than 2% to GDP and has ample room for growth.
“Industry sources estimate that the entire halal industry is worth RM1.5 billion (approximately US$490 million). We are confident that we can achieve the 5.8% target as demand for halal products in Malaysia has been steadily increasing over the past four years,” said Datuk Seri Jamil Bidin.
He said that currently, halal products account for less than 10% of the total global trade volume, and industry insiders generally believe that there is still great potential to be tapped in the markets of China, India and other non-Muslim countries.
Jumaatun Azmi, founder and managing director of KasehDia Sdn Bhd, believes that the growing Muslim population globally will also have a positive impact on demand for halal products. “This is definitely a market you cannot ignore. The demand has always been there and is still rising,” she said.