Comprehensive Sukuk Market Forecast 2025-2034: Growth Trends and Strategic Shifts

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Sukuk Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The sukuk market size has grown exponentially in recent years. It will grow from $1080.62 billion in 2024 to $1296.82 billion in 2025 at a compound annual growth rate (CAGR) of 20.0%. The growth in the historic period can be attributed to islamic finance growth, diversification of funding sources, infrastructure development, government initiatives, global sukuk issuance, increased cross-border transactions.

Sukuk Market Size Forecast: What's the Projected Valuation by 2029?
The sukuk market size is expected to see rapid growth in the next few years. It will grow to $2559.79 billion in 2029 at a compound annual growth rate (CAGR) of 18.5%. The growth in the forecast period can be attributed to global economic recovery, belt and road initiative, sustainable and green sukuk, islamic fintech growth, diversity of sukuk structures, wealth management demand. Major trends in the forecast period include innovation in sukuk structures, digitalization of sukuk issuance, enhanced regulatory frameworks, partnerships and cross-border collaboration, private sector participation.

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What Are the Drivers Transforming the Sukuk Market?
The rapid urbanization in Middle Eastern countries is expected to propel the growth of the sukuk market going forward. Urbanization is the process of a nation's population gradually moving from rural to urban areas, with the proportion of urban residents growing faster than that of rural residents. The demand for infrastructure investment is created by urbanization, which subsequently spurs economic growth through a variety of avenues, such as lowering transaction costs and increasing productivity. In infrastructure development, sukuk is a popular and extremely effective way for governments to raise money locally and internationally through a sharia-compliant procedure without paying interest for the development of the country. For instance, in June 2024, according to Baker Institute, a US-based non-profit government organization, the population of Arab countries reached approximately 465 million. The urban population in the region is expected to rise from 279 million to about 362 million by 2035. This entails investing in education, infrastructure, and governance structures to foster an environment conducive to sustainable urban development. Therefore, the rapid urbanization in Middle Eastern countries is driving the growth of the sukuk market.

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What Long-Term Trends Will Define the Future of the Sukuk Market?
Major companies operating in the sukuk market are focusing on sustainable and innovative financial instruments, such as green and social sukuk, to attract a broader range of ethical investors while supporting projects aligned with environmental and social goals. A Sharia-compliant investment fund is a financial vehicle that adheres to Islamic law Sharia, which prohibits interest and invests in ethical ventures while avoiding businesses related to alcohol, gamb*ling, and other activities considered forbidden. For instance, in September 2024, Al Baraka Capital, a Bahrain Bay-based Islamic financial services company, launched the first Sharia-compliant investment fund with USD 4.11million(EGP 200 million) in financing for 20 small businesses in the industrial sector in exchange for a share of the revenues. The fund utilizes Sukuk, which are Islamic financial certificates similar to bonds but compliant with Sharia law. Sukuk represent ownership in tangible assets or projects, allowing investors to earn returns without violating Islamic prohibitions against interest (riba)

Which Segments in the Sukuk Market Offer the Most Profit Potential?
The sukuk market covered in this report is segmented -

1) By Sukuk Type: Murabahah Sukuk, Salam Sukuk, Istisna Sukuk, Ijarah Sukuk, Musharakah Sukuk, Mudarabah Sukuk, Hybrid Sukuk, Other Sukuk Types
2) By Currency: Turkish Lira, Indonesian Rupiah, Saudi Riyal, Kuwaiti Dinar, Malaysian Ringgit, United States Dollar, Other Currencies
3) By Issuer Type: Sovereign, Corporate, Financial Institutions, Quasi-Sovereign, Other Issuer Types

Subsegments:
1) By Murabahah Sukuk: Commodity Murabahah Sukuk, Asset-Backed Murabahah Sukuk
2) By Salam Sukuk: Agricultural Salam Sukuk, Industrial Salam Sukuk
3) By Istisna Sukuk: Construction Istisna Sukuk, Manufacturing Istisna Sukuk
4) By Ijarah Sukuk: Operating Ijarah Sukuk, Finance Ijarah Sukuk
5) By Musharakah Sukuk: Equity-Based Musharakah Sukuk, Project-Based Musharakah Sukuk
6) By Mudarabah Sukuk: Investment Mudarabah Sukuk, Short-Term Mudarabah Sukuk
7) By Hybrid Sukuk: Mixed Structure Sukuk, Multi-Tiered Sukuk
8) By Other Sukuk Types: Green Sukuk, Social Sukuk, Sukuk Al-Waqf

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Which Firms Dominate the Sukuk Market by Market Share and Revenue in 2025?
Major companies operating in the sukuk market include Abu Dhabi Islamic Bank PJSC, Al Baraka Group BSC, Al Rajhi Bank, Banque Saudi Fransi, Dubai Islamic Bank, Hongkong and Shanghai Banking Corporation, Kuwait Finance House, Malayan Banking Berhad, Qatar International Islamic Bank, Ajman Bank, Citi Islamic Investment Bank, Emirates NBD Bank PJSC, Standard Chartered plc, Qatar Islamic Bank, First Abu Dhabi Bank, Gulf International Bank, Islamic Development Bank, Kuwait International Bank, Mashreq Bank, Oman Arab Bank, Sharjah Islamic Bank, Alinma Bank, Bank AlJazira, Bank Islam Brunei Darussalam, Bank Muamalat Malaysia Berhad, Bank Negara Indonesia, Bank of London and The Middle East, Dubai Financial Market, Islamic Financial Services Board, Nasdaq Dubai, London Stock Exchange

Which Regions Offer the Highest Growth Potential in the Sukuk Market?
Saudi-Arabia was the largest region in the sukuk market in 2024. The regions covered in the sukuk market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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