The Halal market is expected to grow by $6.4 trillion by 2019, according to the Organization of Islamic Cooperation.
The figure is approximately twice that of the market during 2012, which was $3.7 trillion.
"The current objective is to increase the promotion of halal products produced by Islamic cooperation and increased communication among investors," Yousuf Al-Othaimeen, secretary-general of the Organization of Islamic Cooperation, said.
Al-Othaimeen said there is now a challenge on the part of the manufacturers to bring all of the standards up to a unified basis in halal products, as well as ensure that all of the products which are available are in compliance with the Islamic laws that are concerned with Halal products.
Secretary General of the Institute of Standards and Islamic Standards Sabah al-Din Qurqmaz said there are many institutions that are giving certifications for halal products, and it can be a challenge for the institutions to fully know if the halal products they are certifying are up to standards or if the 40,000 institutions are to be trusted.