Written by The Banking Post
The global demand for halal products is continuously increasing. Every year, the halal market is growing at a rate of 10%. Currently, the halal product market stands at $3.3 trillion, which is more than double the size of the global apparel market. The global apparel market is valued at $1.8 trillion.
This information was presented by Anwar-ul-Alam Chowdhury (Parvez), President of the Bangladesh Chamber of Industries (BCI), during a training workshop titled “Halal Product Market, Best Practices in Halal Production, and Halal Certification Process,” held on Sunday (6 July), organized by BCI.
The workshop was presided over by Anwar-ul-Alam Chowdhury (Parvez), with Md. Obaidur Rahman, Secretary of the Ministry of Industries, attending as the chief guest. A total of 22 representatives from various organizations and sectors participated in the workshop.
Conducted by BCI Secretary General Dr. Md. Helal Uddin, the event featured remarks from Anwar-ul-Alam Chowdhury, who said that in today’s context, halal products are a significant topic. Halal is no longer limited to food items; everyday products such as clothing, pens, glasses, and more can also be halal. The global demand for halal products is rising steadily. While the global apparel market is valued at $1.8 trillion, the halal market is now at $3.3 trillion and is growing by 10% annually.
He added that Bangladesh currently exports only $843.03 million worth of halal products, most of which are agricultural. “We see a vast potential in exporting halal goods. To realize this potential, we all need to work together,” he stated.
In his speech as the chief guest, Industries Secretary Md. Obaidur Rahman said that the halal market is one of the world’s fastest-growing sectors. Not only Muslims, but non-Muslim consumers are also increasingly interested in halal products due to their assurance of being healthy and safe. This market is no longer limited to food, but also includes cosmetics, medicines, clothing, tourism, and more.
He pointed out that the largest halal consumer countries are Indonesia, Malaysia, Saudi Arabia, Pakistan, and Turkey. Additionally, the demand for halal products is also rising in Europe. The major halal-exporting countries are Brazil, Australia, and Thailand. As a Muslim-majority country, Bangladesh has enormous potential in halal product exports. With strategic planning, quality production, and proper marketing, Bangladesh can achieve a strong position in this global market. Halal products can become Bangladesh’s next golden export sector.
He assured that the Ministry of Industries and BSTI will provide all possible support to expand the halal market.
