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Turkey sector officials have stated on Thursday that the world halal market which mainly provides service to Muslims but also attracts those who prefer thoroughly inspected products currently stands at $7 trillion, but they need to do more to gain a fair share of the market.
The head of World Halal Union Ahmet Gelir states, “Projects in this field gained a different momentum with Turkey’s entry into the field.” Chemicals, cosmetics, agricultural products, food, etc., are all a part of this field.
The demand for certificates that notify customers whether the product is halal is rising as world trade grows and due to more and more producers entering the market. Western Standards and certification bodies are interested in “Halal Certification” research which covers areas like medicine, cosmetics, etc., because of the size of the market.
“It has started for the first time in Malaysia, Indonesia, and the Far East to ensure food safety and gained a different momentum with Turkey’s involvement,” Gelir said, noting that the study on halal standards first began in the 2000s.
The Standards and Metrology Institute for Islamic Countries (SMIIC), a sound mechanism for standard harmonization among the Organization of Islamic Cooperation (OIC) countries, was also set up in Istanbul under the directions of the country.
According to Gelir, 1.86 billion Muslims in 57 Islamic countries and their communities in different parts of the globe now know clearly what they consume and produce. Gelir stated, “Organizations like ours give confidence to the consumer with accurate and fast inspection.”
He explained that the halal inspection acts as a third eye, ensuring that the products are tracked without bias from its source and that the orientation of a “halal certificate” is determined according to customer demand, implying that “the system, supply, and demand are well-managed.”
Gelir stated that while major certification bodies in the Western world are attempting to carry out certification studies that are usually carried out by Muslim countries, this is not preferred because halal studies are a matter of faith in addition to knowledge, skill, and experience.
Turkey, which has a large Muslim population, “strives to be a pioneer in this field,” according to Gelir, and carries out to be a player in the market with well-known organizations such as the Turkish Standards Institute (TSI), Gimdes, World Halal Union, and others.
He also stated, “We also have the Halal Accreditation Agency (HAK), established by law, which audits and accredits certification bodies. We know that this organization will be recognized and welcomed by the world day by day.”
The chairperson of the World Halal Summit Council and Discover Events stated that halal consumption must grow side by side with the Muslim population around the globe. He stated, “Today, the halal service and product economy has reached a volume of $7 trillion in the world. But Turkey has a share of just over $100 billion. Unfortunately, Turkey and a few Muslim countries receive less share from related sectors such as halal food, Islamic finance, halal tourism, conservative fashion (and) halal cosmetics compared to other countries.”
This implies that they hold halal fairs each year to increase awareness regarding the expanding market and also to raise Turkey’s commercial opportunities in this area.
According to the sector official, Islamic finance, which is also known as participation finance in Turkey, will soon exceed $3.5 trillion, while the food and beverage industry will soon surpass $2 trillion, cosmetics industry $200 billion, conservative clothing $240 billion, and the halal tourism industry $400 billion.
“(The) halal economy is expected to shape the global market in the near future. Our country is also one of the few countries where halal sensitivity is high. Turkey is experiencing rapid growth on the export side, which is very pleasing for us. With more active policies, efforts, we aim to increase Turkey’s share of the world halal market to $400 billion.”
