ANALYSIS OF GLOBAL HALAL PRODUCT MARKET DEVELOPMENT TRENDS: SOCIO-CULTURAL AND ECONOMIC DIMENSIONS

Анотація

The article examines the development trends of the global halal products market in its sociocultural and economic dimensions, emphasizing demographic, technological, and institutional factors that determine its dynamics. The study aims to explore the characteristics and leading tendencies in the evolution of the global halal market within the context of socioeconomic, cultural, and technological transformations. The research methodology is based on a systematic analysis of secondary data from academic sources, statistical reports by FAO and USDA, and market analytics (GMI Insights, Precedence Research), which includes the processing of empirical indicators related to demographics, GDP, and trade volumes. Methods of comparative analysis, graphical modeling, and synthesis were applied to assess regional disparities and structural changes in the market The results indicate a stable market expansion, valued at approximately USD 4 trillion in the early 2020s and projected to reach USD 6.49 trillion by 2034, with the food segment dominating (over 70%) and meat and poultry representing key components due to religious dietary norms and an average consumption of 21.1 kg per capita in 2025. Geographically, the market is uneven: The Asia-Pacific region accounts for 50.2% of global revenue owing to urbanization and certification systems in Indonesia and Malaysia, while the Middle East and Africa generate import demand, and non-Muslim countries (e.g., Brazil, Australia) provide about 85% of halal meat exports to OIC members. Distribution channels are transforming: traditional retail (51.5%) is being complemented by e-commerce, expected to grow from USD 0.3 to 1.5 trillion by 2034, strengthening digital traceability and consumer loyalty. Prospects are linked to innovations such as blockchain and organic halal production, integrating ethical and environmental standards and transforming the market into a segment of sustainable production. The practical value of the research lies in substantiating strategies for producers and exporters to harmonize certification and diversify assortments, reducing transaction costs and fostering expansion into premium niches. The findings also serve as a basis for policy recommendations in Ukraine and the EU to facilitate integration into global halal supply chains and enhance the competitiveness of the agricultural sector.