KUALA LUMPUR, March 18 – Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has urged Bumiputera entrepreneurs to expand their reach in the global halal export market, moving beyond the food and beverage (F&B) sector into segments like ingredients, cosmetics, and pharmaceuticals.
According to him, the global demand for halal products is steadily increasing, with projections estimating a market worth US$5 trillion by 2030.
“We have to look within the context of halal product exports, given that the global market for such exports was valued at US$3 trillion in 2023…quite a substantial amount and it is anticipated to reach US$5 trillion by 2030,” he told Bernama in a special interview in conjunction with the Bumiputera Economic Congress 2024 recently.
Ahmad Zahid, who is also the Malaysia Halal Council chairman, said that Bumiputera entrepreneurs should be aware of the vastness of the global halal market, which sees demand stemming from both Muslim and non-Muslim consumers who place importance on cleanliness.
“Therefore, we should continue to encourage Bumiputera entrepreneurs to not only sell their products domestically but also to explore international markets,” he said.
Based on data, the global Muslim market represented 24 per cent of the world’s population in 2022, amounting to 1.9 billion people, and is forecast to reach 2.2 billion individuals by 2030.
