Consumer demand for healthier and sustainable food options has significantly increased. This creates a valuable opportunity for aspiring entrepreneurs to start a new halal business or for existing businesses to adjust their strategies. Surveys indicate that up to 94% of consumers prioritize finding healthier choices. Many are willing to pay more for these products despite being financially conscious.
HealthcareAsia mentioned the Bain & Company report reveals that over half (58%) of Gen Z and 51% of consumers in the Asia Pacific (APAC) are open to spending more on healthcare for improved health outcomes, experiences, and efficiency.
Gen Z, recognized for its commitment to sustainability, actively seeks out eco-friendly options. They are also willing to pay more, even matching their spending on healthcare. This shows how the generation today is committed to taking care of their health, and that is expected to continue in the coming years.
1) Organic Food and Beverage Business
The global organic food market size is anticipated to reach around USD 446.2 billion by 2030, expanding at a CAGR of 11.9% from 2023 to 2030, according to Vantage Market Research. For beverages in the organic soft drink market, it is projected to grow to approximately USD 7.78 billion by 2028, with a compound annual growth rate (CAGR) of 4.1%. This growth reflects how consumers are increasingly choosing healthier, organic options in beverages, driven by a desire for natural ingredients and sustainability in their dietary choices.
2) Health Supplements Business
The health supplements market is a promising halal business idea, especially for halal options, as the Muslim population continues to grow globally. Many consumers, particularly Millennials and Gen Z, are now focusing on important health areas.
Popular products, such as immunity boosters, are in high demand because they support overall health and help the body defend against illnesses and infections. Additionally, plant-based supplements are becoming more popular as people seek natural products.
According to the 2024 Global Dietary Supplement Trends, these health-focused products fit well with the halal lifestyle. The primary health focuses include:
- Cognitive Health
- Gut Microbiome
- Immunity
- Weight Management and Sports Nutrition
- Plant-Based Supplements
3) Halal Beauty Business
As the Muslim population continues to grow, so does awareness and demand for halal cosmetics, particularly among younger consumers influenced by social media platforms like TikTok. These products are often perceived as healthier options because they typically contain natural ingredients, avoid harmful chemicals, and follow ethical sourcing practices.
For instance, the halal body wash market is projected to reach $20.40 billion by 2032, with a compound annual growth rate (CAGR) of 8.61%. This trend reflects a broader consumer shift toward safe and sustainable beauty products, aligning with increased demand for ethical and health-conscious choices in the cosmetics industry.
Additionally, with the Hallyu wave still remaining strong in 2024, consumers showed a significant interest in Korean beauty products globally. This is largely due to its innovative formulations and high-quality ingredients, which enhance the appeal.
However, a lack of halal certifications of Korean cosmetics remains a concern for Muslim consumers. This presents a great halal business opportunity to launch halal-certified beauty products that match high-quality Korean beauty products.
Conclusions
Consumers are increasingly looking for healthier and more sustainable choices, which creates many opportunities for entrepreneurs, especially in the halal market. Many people, particularly Gen Z, are willing to spend money on their health, so businesses focusing on organic foods, health supplements, and halal beauty products are likely to grow.
The expected growth in these areas shows that consumers care about their health and want products that match their values. By embracing these trends and catering to health-conscious shoppers, businesses can succeed in a market that values quality and ethical practices.
