2:54:16 PM | 4/21/2025
The global Halal market, valued at over US$2 trillion, is transitioning from a niche sector into a significant export opportunity, providing vast potential for Vietnamese goods worldwide.
There are many opportunities for Vietnamese seafood to expand in the Halal market
Export advantages
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan called for decisive action at this critical juncture. He emphasized that securing 10% of the global Halal market would bring significant value and, with current growth, Vietnam could capture a large share within five years. He set an ambitious target for Halal exports to account for 20% of the country’s total export turnover in the next half-decade.
Ramlan Bin Osman, Director of the National Halal Certification Center (HALCERT) under the Ministry of Science and Technology, highlighted Vietnam’s rare potential to penetrate the Halal market. Vietnam’s economy, with annual GDP growth of 6-7%, offers a solid foundation for expanding into the Halal market. Additionally, abundant raw materials such as coffee, rice, seafood, aquaculture products, spices, cashews, vegetables and fruits position Vietnam to meet the demand for high-quality Halal products.
Tran Van Hiep, Vice Chairman of the Vietnam Cashew Association, reported that in 2024, the industry exported 700,000 tons of cashew kernels, generating US$3.8 billion. He added that all products carry Halal certification, with the U.S. leading demand at 30% of output, followed by Europe, Australia and the Middle East. He affirmed that Halal certification is no longer just a requirement but a competitive edge.
Challenges and solutions
Indonesia, the world’s largest Halal market, spends US$14 billion annually on imported Halal agricultural products and food. However, Vietnam’s contribution is only US$54 million, accounting for barely 1% of its total export turnover. Pham The Cuong, Trade Counselor in Indonesia, said that lengthy approval processes, high costs, short validity periods and dependence on a single authorized entity have made it difficult for small and medium-sized enterprises to compete. He suggested focusing on food and beverages, especially milk, which is poised for entry into Indonesia, along with promising products like canned fruit, honey and tapioca starch to tap into this market.
Le Phu Cuong, head of Vietnam’s Trade Office in Malaysia, noted that while Halal certification is not mandatory in this country with a 60% Muslim population, importers still favor certified products, creating implicit pressure on exporters.
| According to IMARC Group, the global Halal market hit US$2.3 trillion in 2024 and is expected to grow to US$5.2-5.9 trillion by 2033, with an annual growth rate (CAGR) of 9–12%. The Middle East alone imports US$40 billion in food annually, a figure forecast to rise to US$70 billion by 2035. |
In Pakistan, the world’s third-largest Halal market, Vietnam has made gains with tea (40% of tea exports), pangasius fish (95% market share) and pepper, but high-value sectors like Halal finance, tourism and fashion remain untapped.
Tran Trong Kim, Trade Counselor in Saudi Arabia, urged the government to issue clear Halal certification guidelines soon and accelerate mutual recognition negotiations with other countries. He also encouraged businesses to invest in compliant production lines to seize emerging opportunities.
Meanwhile, Truong Xuan Trung, head of the Trade Office in the UAE, underscored the shortage of personnel with deep Halal expertise. He expressed optimism that the recently signed CEPA agreement with the UAE could mark a trade breakthrough, urging businesses to invest in technology, participate in international trade fairs, and scrutinize contract terms to mitigate risks.
At a trade promotion briefing in March 2025, Deputy Minister Tan warned, “Global trade is an interconnected network; we cannot address markets in isolation.” He directed the Trade Promotion Agency to draft a detailed Halal strategy within 15 days (by mid-April 2025) and tighten deadlines for addressing business concerns. He stressed that this is not just a report, but a shift from reactive to proactive.
With new U.S. tariffs (46%) threatening exports, Deputy Minister of Agriculture and Environment Phung Duc Tien emphasized the need to diversify markets, leverage agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA), and boost trade promotion in the Middle East, Americas, and especially the Halal market, projected to reach US$4 trillion by 2030. This is Vietnam’s moment to cement its place on the global trade map.
By Ngoc Linh, Vietnam Business Forum
Vietnamese
