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Oman’s Ministry of Agriculture, Fisheries and Water Resources highlighted the significance of the halal global food industry at the 2024 Russia-Islamic World forum, which was held recently in Kazan, Russia.
A report on the forum, issued by the Omani Embassy in Russia, quoted Dr Ahmed bin Nasser al Bakri, Under-Secretary for Agriculture, as saying: “Halal products are currently experiencing significant growth worldwide, as well as an increase in their marketability according to the concept of the Islamic economy.”
According to Dr Al Bakri, the growth of the halal market is driven by several factors including the growing economies of Islamic countries. ”The main driver for the growth of the global halal market lies in the development of the economies of Islamic countries and the increasing demand for halal products from new markets. This has resulted in the global halal market value growing to an estimated $3 trillion.”
Significantly, the Halal World Institute estimated the value of the global halal economy market at $2.5 billion in 2023, and is expected to reach $4.6 billion by 2030.
Parallel to the 15th edition of the Forum, which took place from May 14-19, was the Russia Halal Expo, which showcased over 4,500 global halal-certified products.
The Omani delegation to the Forum was headed by Dr Said bin Mohammed al Saqri, Minister of Economy, Dr Ahmed bin Nasser al Bakri, Agriculture Under-Secretary at the Ministry of Agriculture, Fisheries and Water Resources, and Mulham bin Basheer al Jarf, Deputy CEO of the Oman Investment Authority for Investment Affairs, in addition to other government officials and industry experts.
Oman Observer
