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Turkey aims for stronger position in $7 trillion global halal market

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As Istanbul prepares for the 9th World Halal Summit and 10th Organization of Islamic Cooperation (OIC) Halal Exhibition, Turkey is strategically positioning itself as a key player in the global halal market, according to CEO of Discover Events and Chairman of the World Halal Summit Council, Yunus. Summer.

“The Halal Expo 2023 and the 9th World Halal Summit to be held from November 23 to 26 are expected to help Turkey grow and become even more influential in the halal market,” Ete told Daily Sabah in an exclusive interview.

By strategically focusing on diversifying its markets as part of the “Century of Turkey” vision, the country aims to increase its exports to $300 billion by 2025, Ete said, adding that “the market halal presents one of the greatest potentials for this ambition.”

Turkey has already made significant progress in the halal sector, ranking among the top 20 exporters of halal products alongside Indonesia and Malaysia, according to the OIC Halal Economy Report.

This country located at the crossroads of Europe and Asia is also one of the three countries, along with Indonesia and Malaysia, which has the capacity to produce and export more than 20 types of products, noted Summer.

The global halal market is valued at more than $7 trillion (TL 200.2 trillion), according to Ete, and is expected to further grow to $10 trillion over the next five years.

Ete said consumer food spending in Muslim countries exceeded $1 trillion in 2022 and is expected to reach $1.5 trillion by 2026. He said this growth provides a significant window of opportunity for investments and exports among OIC countries.

“There is strong consumer demand for healthy, halal and organic food products,” Ete said, asserting however that OIC countries are dependent on imports in the food, pharmaceutical and cosmetic sectors.

Seeing this opportunity, Turkish companies are focusing on investments in halal-certified products, he said, adding that they are also taking very strategic steps to create a strong network in this market.

Ete also highlighted the importance of the exhibition and the active efforts of the country’s Halal accreditation agency.

Describing the main slogans of this year’s expo as “The World’s Largest Halal Showcase” and “The Gateway to the Global Halal Economy”, Ete further highlighted a very high demand for the Halal Expo fair. .

He said that major companies in the fields of food, food technology, cosmetics, pharmaceuticals, textiles and modest fashion show very high interest in the event every year.

This year, there is also a strong demand for exhibitors from sectors related to Islamic finance and halal tourism, he noted.

Halal accreditation

Addressing halal accreditation and the scope of the halal market, Ete said that contrary to popular belief, the halal market encompasses much more than halal food.

“People first think of the food industry when they think of the halal market, but halal certification is not limited to food. Halal certification also applies to creams and ointments that come into contact with the skin, “Toothpaste, clothing and cosmetics. Tourism is also an important industry,” he explained.

We see that consumer demand and international competition are also driving more hotels to seek certification, he added.

According to Ete, the emerging dynamics in the global trade market are helping to increase interest in the halal market, both in Turkey and globally.

Explaining that the search for alternatives to Israeli products and the global boycott of these products have shifted demand towards halal-certified products, Ete said: “People showed their response to the attacks on Gaza, began to look for alternatives to Israeli products and focused on Israeli products. on the halal market. Sales of halal-certified products, ranging from food to hygiene, pharmaceuticals to textiles, have seen an increase of more than 100% in recent weeks.

“It is clear that the global halal market, which has already exceeded the size of $7 trillion, continues to grow from strength to strength thanks to recent momentum,” he said.

Furthermore, Ete explained that the exhibition, which welcomes visitors from more than 100 countries, serves as a platform for company representatives and qualified businessmen to discover new products, expand their network and diversify their wallet.

“Our participants will meet more than 500 professionals, including from Turkey, the Middle East, Central and Western Europe, the Balkans and Africa,” he said. He also added that the exhibition, like previous years, will also host a special B2B program thanks to the support of the Ministry of Commerce of the Republic of Turkey.

Ete said that the International Chefs Championship was also organized simultaneously with the fair and the summit since 2018 and added that this year the event would be organized in a much more comprehensive manner.

“This year, 1,000 chefs will participate in the championship that we are organizing in cooperation with the Confederation of All Chefs and Pastry Chefs (TAŞPAKON) and the World Platform of Culinary Societies of Islamic Countries – WICS,” he noted.

In addition to the economic impact of the fair, the convergence of world leaders in the halal market in Istanbul is of importance not only for the economy, but also for promoting tourism and cultural exchanges, Ete emphasized.

“This also adds to Turkey’s attractiveness as a halal-friendly destination,” he added.

“Istanbul is our jewel and the fact that the 9th World Halal Summit and the 10th OIC Halal Expo 2023 are being held here also strengthens our city’s position as a global hotspot,” he concluded.

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