Global Muslim food consumption spending to reach US$1.3t by 2024

KUCHING: Global Muslim food consumption spending is projected to reach a staggering US$1.38 trillion by 2024, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

He said young people, who will form 60 per cent of the world’s two billion Muslim population by 2030, are already influencing this surge in consumption.

“They are driving a revolution in which halal is synonymous with health, hygiene, and ethical stewardship,” he said when speaking at the 2nd Global Muslim Business Forum 2023 here today.

Fadillah said the government recognises the intrinsic value of halal certification to ensure that consumer goods such as pharmaceuticals, nutraceuticals, cosmetics and food meet the highest halal standards.

“This commitment has encouraged major players in the consumer goods sector to invest in halal production lines, thus ensuring that our products are trusted on the global stage.

“As the younger generation becomes increasingly eco-conscious, we see a rise in demand for plant-based products and healthy foods and halal-certified offerings are expanding rapidly,” he added. -Bernama