In 2024 global Islamic finance assets reached $5.98 trillion, growing 21% in a single year. A significant share of this wealth is flowing into Halal consumer goods — food, fashion, cosmetics — opening real opportunities for Italian agri-food companies. Understanding where this money is going is the first step to capturing it.
As reported by The Halal Times on 27 August 2026, global Islamic finance assets reached $5.98 trillion in 2024, up 21% on the previous year. This is not an abstract statistic: behind those numbers are consumers, investment funds, governments and retail chains actively looking for products that comply with Islamic principles. For an Italian agri-food company, ignoring this flow means leaving the field open to competitors.
The article identifies four main destinations for Islamic capital:
For the Italian agri-food sector, the most immediately relevant item is the second: Halal consumer goods. Demand for Halal-certified food is driven not only by the demographic growth of Muslim populations, but also by a middle class that is increasingly demanding in terms of quality, traceability and transparency. Markets such as Saudi Arabia, the United Arab Emirates, Malaysia, Indonesia and Singapore are looking for premium products — and Italian food has everything it takes to meet that demand.
The critical point is this: that wealth cannot be reached without a Halal certificate recognised in the destination country. Producing with compliant ingredients or relying on internal declarations is not enough. Buyers in Islamic retail, Gulf importers and the customs authorities of Malaysia and Indonesia check that the certificate comes from a body recognised in their country.
This means that two Italian companies with comparable products can have completely different commercial outcomes: the one with a recognised certificate enters the market, the other stays out, regardless of product quality.
A common mistake among companies approaching the Halal world for the first time is to assume that any certificate will do. In reality, every importing country keeps its own list of recognised bodies. Saudi Arabia refers to SASO and SFDA, the Emirates and the Gulf to GAC and EIAC, Malaysia to JAKIM, Indonesia to BPJPH, Singapore to MUIS and Thailand to CICOT. In commercial practice, a certificate not recognised by these authorities is the same as having no certificate at all.
HQC Italia is recognised in more than 50 Islamic countries, including all the authorities listed above. This means that an Italian company certified by HQC does not have to negotiate acceptance of the document market by market: the recognition is already in place.
In light of the $5.98 trillion in Islamic assets and the direction that wealth is taking, these are the practical steps an exporting company — or one that wants to start exporting — should consider:
A 21% increase in Islamic assets in a single year is not a short-term blip: it reflects a structural transformation of the markets. The best-equipped competitors — Brazil, Australia and, for some processed products, the Gulf countries themselves — are already positioning themselves. Italian companies that decide to get certified today are entering an expanding market; those who wait will find the shelves already taken.
HQC Italia, the first Halal certification body in Europe since 1983, provides a free quote within 24 hours. It is the starting point for understanding, with no commitment, what your company needs to access these markets.
Source: Where Is All The Islamic Wealth Going?, The Halal Times, 27 August 2026.
Tell us about your product and target markets: the quote is free and you will receive it within 24 hours.