Halal Tourism Market: Current Analysis and Forecast (2024-2032)

Report Description

Halal Tourism Market Size & Forecast

The Halal Tourism market was valued at approximately USD 260 billion in 2023 and is expected to grow at a substantial CAGR of around 5% during the forecast period (2024-2032) owing to the rising consumer demand for sustainable food options.

Halal Tourism Market Analysis

Halal Tourism can be defined as travel and tourism services that cater to needs of the Muslims in compliance with Islamic injunctions. These are offering halal food, no serving of alcoholic beverages, prayer, and meditation areas, modesty in the layout of the accommodation, and partitioning of the sexual, racial, and ethnic sexes as allowed by the Islamic Sharia laws. Halal tourism guarantees that Muslims who are interested in traveling will be able to do so without violating any of the religious principles they hold dearly.

Muslim population of the world is growing and particularly in regions with higher per capita income the consumption of halal travel services is increasing. As per the American Halal Foundation (USA), in 2024,  Muslim consumers globally spent a whopping USD 2 trillion, and this is expected to go up to USD 2.8 trillion by 2025. The Muslim population is remarkably youthful, with around 30% of the 2 billion Muslim population aged between 15-29. Also, the increase of knowledge of Muslims in the availability of halal tourism services and specialized portals has facilitated their choice. Moreover, global destinations are following this market through the provision of halal restaurants places of worship, and hotels that are Islamic-friendly. This has implications for the hospitality sector hence the broadening of services which may positively affect market competitiveness and growth of tourism in countries with little Muslim population.

Halal Tourism Market Trends

This section discusses the key market trends influencing the various segments of the Halal Tourism market as identified by our research experts.

International Tourism Transforms Halal Tourism Industry.

International tourism plays a major role in the penetration and dominance of the global halal tourism market as the Muslim population expands for travel that is suitable for Islamic belief. While traveling remains a luxury in many parts of the world, global players adapt to emerging markets by offering authentic halal food, prayer services, and non-alcoholic beverages. This adaptation not only serves the purpose of targeting the Muslim clientele but also increases the brands’ appeal to diverse clients, which is good for business. Governments and private investors spend money on marketing programs aimed at countries with a Muslim population majority thus demonstrating their willingness to meet halal needs, which enhances the tourist attractions’ appeal. It assists in revealing a significant niche market and stimulates the financial development of the tourist business while diversifying the services provided. The adoption of halal tourism means satisfying the standard of international travel expedites the perception of service excellence, draws in a broader range of customers and fosters repeat business. For instance, the American Halal Foundation (AHF) is the leading internationally accredited and globally accepted halal certification agency in North America, with over USD 1 billion in business growth achieved through AHF halal certification in 10 years.

Malaysia leads the market.

Malaysia has effectively marketed itself as the global halal tourism hub by utilizing its dominant Muslim demographic and advanced halal industry. Tourism Malaysia also encourages Muslim tourists to visit the country through its marketing slogan “Malaysia, Truly Asia”, which presents Malaysia as offering halal food, Islamic Shari’ah compliance accommodation, and entertainment services for families and youths. Malaysia has an elaborate halal certification for the products, services, hotels, and restaurants hence the tourists embrace it as it adheres to Islamic Shariah laws. It also plays a role in hosting global halal forums and expositions contributing to the promotion of the image of the country as a halal tourism destination. Such an emphasis on halal compliance serves not only the cultural and religious demand of Muslim tourists but also provokes local and international tourism which in return helps the growth of the national economy. Malaysia is thus continuing to expand this strength by accommodating the policies and facilities of the halal-friendly and benefiting from the continuous growth of the global halal tourism market.

Halal Tourism Industry Overview

The Halal Tourism market is competitive, with several global and international players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Beyond halaltours.org, Carisa Travel Group, Rooh Travel Limited, Halalbooking., Halal Safaris, Halal Trip India, Hello Travel Pte Ltd., mazhoudhalaltourism.com, Rihaala.com (Serendipity Tailormade Ltd), Tripfez.

Halal Tourism Market News

In 2024, Thailand approved several initiatives in the hope of propelling it to become Southeast Asia’s new halal hub by 2028, further promoting Thai food and other products worldwide while enhancing the kingdom’s tourism.

In 2024 – Nova Maldives’ July activities have been tailored to appeal to travelers exploring solo. Discounted rates are also on the cards for those traveling on their own, with up to 45 percent off and rates starting from Dh1,795 ($488) per person per night.

Halal Tourism Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global Halal Tourism market can be customized further as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Halal Tourism Market Analysis (2024-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Halal Tourism market were the three major steps undertaken to create and analyze the adoption of Halal Tourism in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Halal Tourism market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Halal Tourism market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Halal Tourism market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type, tourist type, and regions. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Halal Tourism market. Further, we conducted factor analysis using dependent and independent variables such as type, tourist type, and regions of the Halal Tourism market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Halal Tourism market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global Halal Tourism market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

The industry’s market size, in terms of revenue (USD) and the adoption rate of the Halal Tourism market across the major markets domestically

All percentage shares, splits, and breakdowns of market segments and sub-segments

Key players in the global Halal Tourism market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global halal tourism market. Data was split into several segments and sub-segments after studying various parameters and trends in the type, tourist type, and regions of the global halal tourism market.

The main objective of the Global Halal Tourism Market Study

The current & future market trends of the global Halal Tourism market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Halal Tourism market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of the type, tourist type, and regions.
• Define and analyze the regulatory framework for the Halal Tourism
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Halal Tourism market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Halal Tourism market and the growth strategies adopted by the market players to sustain the fast-growing market.
• Deep dive regional level analysis of the industry

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