Private-Sector Bloc Targets $9.5 Trillion Halal Market by 2030<\/p>\n
Jakarta. A private-sector alliance linking Muslim-majority economies\nis stepping up efforts to tap the fast-growing global halal industry,\ntargeting a market projected to reach $9.5 trillion (Rp 163 quadrillion)\nby 2030, as B57+ Asia Pacific Regional Chapter positions Indonesia at\nthe center of that push.<\/p>\n
The initiative, backed by business leaders and policymakers, aims to\nstrengthen trade, investment, and cross-border collaboration among the\n57 member states of the Organisation of Islamic Cooperation and beyond,\namid rising geopolitical fragmentation.<\/p>\n
Speaking at a business forum in Jakarta on Wednesday, Religious\nAffairs Minister Nasaruddin Umar said the launch of the Asia-Pacific\nchapter earlier this year marked a key milestone in building a\nprivate-sector platform capable of connecting Islamic economies.<\/p>\n
\u201cI am optimistic that this form of Islamic economic multilateralism\ncan respond to global challenges, drawing from past crisis experience,\u201d\nhe said.<\/p>\n
The halal economy, once largely associated with religious compliance,\nis increasingly being viewed as a mainstream global industry spanning\nfood, finance, cosmetics, and lifestyle sectors. Its value is estimated\nto exceed $3 trillion in 2026, indicating strong demand across both\nMuslim and non-Muslim markets.<\/p>\n
Arsjad Rasjid, chairman of the B57+ Asia Pacific Regional Chapter,\nsaid the bloc aims to translate that potential into tangible economic\ngains through structured collaboration.<\/p>\n
\u201cIn a world of uncertainties, building trust and economic cooperation\nis more important than ever. The halal economy is one of the most ready\nand promising markets,\u201d he said.<\/p>\n
Arsjad added that while the sector\u2019s growth cuts across religion,\nculture and geography, unlocking its full value will require stronger\ninstitutional frameworks and more integrated supply chains.<\/p>\n
\u201cOur mission is simple but ambitious: to turn collective strength\ninto shared prosperity through trade, investment and real business\nconnectivity,\u201d he said.<\/p>\n
As part of its regional strategy, the group plans to expand its\nfootprint beyond OIC countries by establishing representative offices in\nnon-member markets, including Southeast Asian economies such as Vietnam,\nas well as Australia and New Zealand. The move signals a broader push to\nposition halal standards as a global benchmark for quality and\nintegrity.<\/p>\n
Indonesia, home to the world\u2019s largest Muslim population, is seeking\nto leverage its domestic market and policy support to become a leading\nhub for halal production and trade. Officials say the country\u2019s role\nwill be critical in driving productivity and scaling up the sector\nglobally.<\/p>\n
Eka Sastra, secretary-general of B57+ Indonesia, said achieving that\nambition will require coordinated efforts across governments, businesses\nand international partners.<\/p>\n
\u201cThis is not something we can do alone. Collaboration is essential to\nturn this potential into real economic benefits,\u201d he said.<\/p>\n
The B57+ platform operates under the Islamic Chamber of Commerce and\nDevelopment and is designed to bridge policy and business, focusing on\nboosting intra-OIC trade, expanding cross-border investment and\ndeveloping practical economic frameworks.<\/p>\n
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