Global Takaful Market Expected to Produce USD 97.17 Billion by 2030   

The global takaful insurance market has generated USD 24.85 billion in 2020 and is projected to generate USD 97.17 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 14.6% from 2021 to 2030, according to the report published by Allied Market Research.

Why it Matters?

The global takaful insurance market is expanding as a result of takaful insurance's acceptance in non-Muslim nations and its added advantages over traditional insurance. However, a lack of market participants and little consumer awareness hamper industry expansion. On the other hand, improvements in government regulations and the insurance industry's use of emerging technologies is expected to open up new market prospects in the coming years. Due to the global economic unrest, don...