From Halal Markets to Economic Sovereignty: The Next Frontier of the Islamic Economy

By Our special Correspondent

For more than a decade, the annual State of the Global Islamic Economy (SGIE) Report has served as the most influential barometer of the Islamic economy worldwide. Policymakers, investors, financial institutions, researchers and business leaders eagerly await each edition to understand the latest trends shaping Muslim markets.

The recently released SGIE 2025/26 Report once again presents impressive numbers. It estimates that Muslim consumer expenditure across sectors such as halal food, Islamic finance, pharmaceuticals, cosmetics, travel, media and modest fashion reached approximately US$2.6 trillion in 2024 and is projected to rise to US$3.56 trillion by 2029. Islamic finance assets alone are expected to approach US$10 trillion within the same period.

These figures are undoubtedly significant. They demonstrate that the Islamic economy is no longer a niche market but one of the world’s largest and fastest-growing economic ecosystems. They also provide further evidence that Muslim populations constitute a major force within the global economy. READ MORE>>