Hong Kong is the latest region to join the race to dominate the multi-trillion dollar global Halal market. On May 10, 2025, The Federation of Hong Kong Industries and the Incorporated Trustees of the Islamic Community Fund of Hong Kong signed an agreement to introduce a ‘Q Mark,’ a halal-related quality certification for products and services adhering to Shariah-compliant standards. The Islamic Community Fund will oversee the certification process, aiming to bolster confidence among Muslim consumers both locally and internationally.
Global Halal Market Expansion
This move aligns Hong Kong with other major players in the Halal market, such as the United Arab Emirates and Indonesia, all vying for a significant share of the burgeoning industry. The UAE recently approved a comprehensive strategy to expand its Islamic financial sector and ramp up local Halal production for global export. Their ambitious plan aims to increase Islamic bank assets from 986 billion to 2.56 trillion Emirati dirhams within six years and elevate the value of listed Islamic sukuk to over 660 billion Emirati dirhams by 2031.
Indonesia’s Halal Industry Push
Indonesia is also making significant strides, with the Ministry of Industry setting a goal for the nation to become the world’s leading Halal product producer. In 2024, Indonesian Halal export transactions reached US$64.11 billion. To further promote the industry, the Halal Indonesia International Industry Expo (Halal Indo) 2025 is scheduled for September 25-28 in Tangerang, Banten.
Other Halal Developments
Other notable developments in the Halal sector include Tim Hortons Malaysia receiving Halal certification for all its outlets from the Department of Islamic Development Malaysia (JAKIM). Additionally, Malaysia is preparing to host the 21st Malaysia International Halal Showcase (MIHAS) from September 17-20, 2025, in Kuala Lumpur, projecting RM45 billion in global Halal trade.
The Growing Halal Market
The global Halal market’s substantial growth spans across various sectors, including food, pharmaceuticals, cosmetics, tourism, and finance. This expansion is fueled by a growing Muslim population and increased awareness of Halal standards, making it a highly competitive and lucrative market for countries and businesses worldwide.
