Press release
Takaful Global Market 2025: $36.74 Billion Evolution, 11.8% CAGR, Industry Expansion, and Key Trends
Takaful Market Forecast
What Is The Projected Market Size Of The Global Takaful Market And Its Growth Rate?
• The takaful market size has grown rapidly in recent years, climbing from $32.85 billion in 2024 to an expected $36.74 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%.
• The growth in the historic period can be attributed to Islamic finance growth, rising awareness of Islamic insurance, government support and regulation, and Islamic banking partnerships.
• The takaful market size is forecasted for rapid growth in the coming years, targeting $57.86 billion in 2029 at a compound annual growth rate (CAGR) of 12.0%.
• This projected growth can be credited to the expanding global Islamic finance industry, diversification of takaful products, inclusion of takaful in financial planning, rise in affluent Muslim population, international collaboration and standardization.
What Is Driving The Growth In The Takaful Global Market?
The growth of the takaful market is driven largely by the sizeable and growing Muslim population worldwide. Islam, the second largest religion globally, guides its followers with teachings like takaful - shared responsibility - which is widely practiced by Muslims. The high Muslim population, particularly in countries like Indonesia, fosters the growth of the takaful market.
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Who Are the Key Players Driving Takaful Global Market Growth?
• Allianz SE
• Zürich Versicherungs-Gesellschaft AG
• Standard Chartered plc
• Gulf Insurance Group
• The Company for Cooperative Insurance Tawuniya
• Bupa Arabia
• Howden Takaful Brokers
• Walaa Cooperative Insurance
• Al Etihad Cooperative
• SALAMA Islamic Arab Insurance
• Allied Cooperative Insurance Group
• Al Sagr Cooperative
• Buruj Cooperative
• Al Ain Ahlia Insurance Co
• Qatar Islamic Insurance Company
• Takaful Re Limited
• AMAN Insurance Company
• Islamic Insurance Company
• Chubb Arabia Cooperative Insurance
• Alrajhi Takaful
• Takaful International Co
• Abu Dhabi National Takaful
• Noor Takaful Family PJSC
• Prudential BSN Takaful
• Syarikat Takaful Brunei Darussalam
• Re-Takaful Company
• Arabia Insurance Cooperative
• Amana Cooperative Insurance.
What Are The Key Trends In The Takaful Global Market?
• Enhanced risk management through data analytics
• Regulatory compliance and standardization
• Education and awareness campaigns
• Expansion of takaful offerings in non-Muslim markets
• Innovations in wakalah and mudarabah models.
What Are The Segments Of The Global Takaful Market?
• By Type: Family Takaful, General Takaful
• By Distribution Channel: Agents And Brokers, Banks, Direct Response, Other Channels
• By Application: Personal, Commercial.
Which Region Leads The Takaful Global Market?
Asia-Pacific lead the takaful market in 2024 and is expected to maintain the fastest growth rate during the forecast period. The report covers takaful markets in Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Takaful Global Market Report 2025?
- Market Size Analysis: Analyze the Takaful Global Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various sub-segments within the Takaful Global Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Takaful Global Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Takaful Global Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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