Bangladesh has the potential to emerge as a regional hub of halal products and can fetch huge export earnings from this burgeoning sector. The global halal food market size stands at $3.30 trillion in 2035 and is projected to hit around $9.45 trillion by 2034. Bangladesh is in a better position to lead the global halal food market because of its favourable demographic and geographic location.
The halal industry in Bangladesh is more than just a religious or cultural sector — it offers a profitable path for boosting exports. The country can become a supplier for more than 1.9 billion Muslim consumers around the world by improving infrastructure and developing industries as per the global halal standards.
Challenges facing the halal food sector include ensuring strict compliance with halal standards and navigating complex certification process, according to sources concerned.
Significant progress has been made in recent years. In late 2023, for the first time, Bangladesh introduced a policy on halal certification to facilitate local production and marketing of Shariah-compliant food items, pharmaceuticals and cosmetics.
According to data from the Ministry of Commerce, the Islamic Foundation has granted certificates to around 235 companies since 2007, with more than 100 of them specialising in production and marketing of halal food products. These companies have around 2,000 halal brand products. So far, 66 companies have exported more than 600 product categories to the Middle East, Europe, America, North America and other countries.
Bangladesh entered the international market through Malaysia, which is now a key partner and a major importer of Bangladeshi halal products. As a global leader in halal certification, Malaysia is working with Bangladesh to help strengthen and develop its own halal industry. However, the two countries have a trade imbalance. Bangladesh's imports account for $2.6 billion against only $293.5 million in exports. Halal trade could help narrow this gap.
Halal products worth around $850 million are exported annually from Bangladesh and most of which come from agriculture-based goods, Razeev H Chowdhury, Senior Vice-President of Dhaka Chamber of Commerce and Industry (DCCI), said at a programme.
A good many non-Muslim countries are now showing interest interest in Bangladeshi halal products because of their quality and hygienic production process, Chowdhury added.
Despite huge potential, Bangladesh faces several structural and institutional challenges in developing the halal industry, including low awareness of halal standards, a lack of modern laboratories and technology and shortage of skilled manpower, he pointed out.
He also stressed the need for launching an automated certification system, establishing advanced laboratory facilities and strengthening traceability and logistics support to overcome these barriers.
We hope that the government will address all the challenges facing the halal industry to boost export of halal products in the greater interest of the country’s economy.
