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PUBLISHER: TechSci Research | PRODUCT CODE: 1763926

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PUBLISHER: TechSci Research | PRODUCT CODE: 1763926

Sukuk Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Sukuk Type, By Currency, By Issuer Type, By Region & Competition, 2020-2030

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Description

Table of Contents

The Global Sukuk Market was valued at USD 1.13 Billion in 2024 and is expected to reach USD 2.33 Billion by 2030, growing at a CAGR of 12.8% during the forecast period. Sukuk, often referred to as Islamic bonds, have emerged as a vital financing instrument within Islamic finance, offering Sharia-compliant alternatives to conventional debt instruments. The market has expanded notably due to increasing demand for ethical and faith-based investments, attracting both Muslim and non-Muslim investors. Sukuk issuances have diversified beyond traditional sovereign offerings to include corporate, quasi-sovereign, and financial institution-backed instruments, enhancing the market's resilience and investor appeal. Notable growth is seen in sovereign sukuk, as governments seek to finance development projects while complying with Islamic financial tenets. As global interest in responsible and ESG-aligned investing rises, sukuk continue to gain ground as a credible and inclusive financial instrument.

Market Overview
Forecast Period2026-2030
Market Size 2024USD 1.13 Billion
Market Size 2030USD 2.33 Billion
CAGR 2025-203012.8%
Fastest Growing SegmentFinancial Institutions
Largest MarketMiddle East & Africa

Key Market Drivers

Islamic Finance's Rising Popularity

The increasing global appeal of Islamic finance is a major catalyst for sukuk market growth. Sharia-compliant finance principles prohibit interest and promote ethical investment practices, making sukuk attractive to investors seeking socially responsible alternatives. The rising Muslim population, growing financial literacy, and regulatory support for Islamic financial products have further contributed to broader acceptance. Non-Muslim-majority countries are also showing rising interest, as sukuk provide an investment avenue aligned with global ethical finance trends. The expanding footprint of Islamic finance across various regions is significantly boosting the adoption of sukuk in global capital markets.

Key Market Challenges

Lack of Standardization

A major obstacle for the sukuk market is the lack of uniform standards across issuances. Unlike conventional bonds, sukuk structures differ widely depending on the underlying contract type and legal interpretations, adding complexity for issuers and investors alike. This absence of standardization creates due diligence challenges and may discourage participation from international investors accustomed to predictable frameworks. Although institutions such as AAOIFI and IIFM are working toward harmonization, market-wide adoption of consistent practices remains limited. This variability can impede market scalability and hinder cross-border sukuk investment opportunities.

Key Market Trends

Green and Sustainable Sukuk

The integration of sustainability into Islamic finance has led to the growing issuance of green and sustainable sukuk. These instruments are structured to finance environmentally and socially responsible projects, such as renewable energy, sustainable infrastructure, and climate-resilient initiatives. Green sukuk align naturally with the principles of Islamic finance, which emphasize stewardship and ethical investing. This trend supports ESG goals while opening the sukuk market to a broader base of investors interested in impact-driven instruments. Governments and private entities are increasingly tapping into this space to fund projects that serve both developmental and environmental objectives.

Key Market Players

  • Abu Dhabi Islamic Bank PJSC
  • Al Baraka Banking Group
  • Al-Rajhi Bank
  • Banque Saudi Fransi
  • Dubai Islamic Bank
  • HSBC Holdings Plc
  • Kuwait Finance House
  • Malayan Banking Berhad
  • Qatar International Islamic Bank
  • RHB Bank Berhad

Report Scope:

In this report, the Global Sukuk Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Sukuk Market, By Sukuk Type:

  • Murabahah Sukuk
  • Salam Sukuk
  • Istisna Sukuk
  • Ijarah Sukuk
  • Musharakah Sukuk
  • Mudarabah Sukuk
  • Others

Sukuk Market, By Currency:

  • Turkish Lira
  • Indonesian Rupiah
  • Saudi Riyal
  • Kuwaiti Dinar
  • Others

Sukuk Market, By Issuer Type:

  • Sovereign
  • Corporate
  • Financial Institutions
  • Quasi-Sovereign
  • Others

Sukuk Market, By Region:

  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • France
    • United Kingdom
    • Italy
    • Germany
    • Spain
  • Asia-Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • South America
    • Brazil
    • Argentina
    • Colombia
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE
    • Turkey
    • Egypt

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Sukuk Market.

Available Customizations:

Global Sukuk Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
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Product Code: 23511

Table of Contents

1. Introduction

  • 1.1. Market Overview
  • 1.2. Scope of the Market
    • 1.2.1. Markets Covered
    • 1.2.2. Years Considered for Study
    • 1.2.3. Key Market Segmentations

2. Research Methodology

  • 2.1. Objective of the Study
  • 2.2. Baseline Methodology
  • 2.3. Key Industry Partners
  • 2.4. Major Association and Secondary Sources
  • 2.5. Forecasting Methodology
  • 2.6. Data Triangulation & Validation
  • 2.7. Assumptions and Limitations

3. Executive Summary

  • 3.1. Overview of the Market
  • 3.2. Overview of Key Market Segmentations
  • 3.3. Overview of Key Market Players
  • 3.4. Overview of Key Regions/Countries
  • 3.5. Overview of Market Drivers, Challenges, and Trends

4. Voice of Customer

5. Global Sukuk Market Outlook

  • 5.1. Market Size & Forecast
    • 5.1.1. By Value
  • 5.2. Market Share & Forecast
    • 5.2.1. By Sukuk Type Market Share Analysis (Murabahah Sukuk, Salam Sukuk, Istisna Sukuk, Ijarah Sukuk, Musharakah Sukuk, Mudarabah Sukuk, Others)
    • 5.2.2. By Currency Market Share Analysis (Turkish Lira, Indonesian Rupiah, Saudi Riyal, Kuwaiti Dinar, Others)
    • 5.2.3. By Issuer Type Market Share Analysis (Sovereign, Corporate, Financial Institutions, Quasi-Sovereign, Others)
    • 5.2.4. By Regional Market Share Analysis
      • 5.2.4.1. North America Market Share Analysis
      • 5.2.4.2. Europe Market Share Analysis
      • 5.2.4.3. Asia-Pacific Market Share Analysis
      • 5.2.4.4. Middle East & Africa Market Share Analysis
      • 5.2.4.5. South America Market Share Analysis
    • 5.2.5. By Top 5 Companies Market Share Analysis, Others (2024)
  • 5.3. Global Sukuk Market Mapping & Opportunity Assessment
    • 5.3.1. By Sukuk Type Market Mapping & Opportunity Assessment
    • 5.3.2. By Currency Market Mapping & Opportunity Assessment
    • 5.3.3. By Issuer Type Market Mapping & Opportunity Assessment
    • 5.3.4. By Regional Market Mapping & Opportunity Assessment

6. North America Sukuk Market Outlook

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value
  • 6.2. Market Share & Forecast
    • 6.2.1. By Sukuk Type Market Share Analysis
    • 6.2.2. By Currency Market Share Analysis
    • 6.2.3. By Issuer Type Market Share Analysis
    • 6.2.4. By Country Market Share Analysis
      • 6.2.4.1. United States Sukuk Market Outlook
        • 6.2.4.1.1. Market Size & Forecast
          • 6.2.4.1.1.1. By Value
        • 6.2.4.1.2. Market Share & Forecast
          • 6.2.4.1.2.1. By Sukuk Type Market Share Analysis
          • 6.2.4.1.2.2. By Currency Market Share Analysis
          • 6.2.4.1.2.3. By Issuer Type Market Share Analysis
      • 6.2.4.2. Canada Sukuk Market Outlook
        • 6.2.4.2.1. Market Size & Forecast
          • 6.2.4.2.1.1. By Value
        • 6.2.4.2.2. Market Share & Forecast
          • 6.2.4.2.2.1. By Sukuk Type Market Share Analysis
          • 6.2.4.2.2.2. By Currency Market Share Analysis
          • 6.2.4.2.2.3. By Issuer Type Market Share Analysis
      • 6.2.4.3. Mexico Sukuk Market Outlook
        • 6.2.4.3.1. Market Size & Forecast
          • 6.2.4.3.1.1. By Value
        • 6.2.4.3.2. Market Share & Forecast
          • 6.2.4.3.2.1. By Sukuk Type Market Share Analysis
          • 6.2.4.3.2.2. By Currency Market Share Analysis
          • 6.2.4.3.2.3. By Issuer Type Market Share Analysis

7. Europe Sukuk Market Outlook

  • 7.1. Market Size & Forecast
    • 7.1.1. By Value
  • 7.2. Market Share & Forecast
    • 7.2.1. By Sukuk Type Market Share Analysis
    • 7.2.2. By Currency Market Share Analysis
    • 7.2.3. By Issuer Type Market Share Analysis
    • 7.2.4. By Country Market Share Analysis
      • 7.2.4.1. France Sukuk Market Outlook
        • 7.2.4.1.1. Market Size & Forecast
          • 7.2.4.1.1.1. By Value
        • 7.2.4.1.2. Market Share & Forecast
          • 7.2.4.1.2.1. By Sukuk Type Market Share Analysis
          • 7.2.4.1.2.2. By Currency Market Share Analysis
          • 7.2.4.1.2.3. By Issuer Type Market Share Analysis
      • 7.2.4.2. Germany Sukuk Market Outlook
        • 7.2.4.2.1. Market Size & Forecast
          • 7.2.4.2.1.1. By Value
        • 7.2.4.2.2. Market Share & Forecast
          • 7.2.4.2.2.1. By Sukuk Type Market Share Analysis
          • 7.2.4.2.2.2. By Currency Market Share Analysis
          • 7.2.4.2.2.3. By Issuer Type Market Share Analysis
      • 7.2.4.3. Spain Sukuk Market Outlook
        • 7.2.4.3.1. Market Size & Forecast
          • 7.2.4.3.1.1. By Value
        • 7.2.4.3.2. Market Share & Forecast
          • 7.2.4.3.2.1. By Sukuk Type Market Share Analysis
          • 7.2.4.3.2.2. By Currency Market Share Analysis
          • 7.2.4.3.2.3. By Issuer Type Market Share Analysis
      • 7.2.4.4. Italy Sukuk Market Outlook
        • 7.2.4.4.1. Market Size & Forecast
          • 7.2.4.4.1.1. By Value
        • 7.2.4.4.2. Market Share & Forecast
          • 7.2.4.4.2.1. By Sukuk Type Market Share Analysis
          • 7.2.4.4.2.2. By Currency Market Share Analysis
          • 7.2.4.4.2.3. By Issuer Type Market Share Analysis
      • 7.2.4.5. United Kingdom Sukuk Market Outlook
        • 7.2.4.5.1. Market Size & Forecast
          • 7.2.4.5.1.1. By Value
        • 7.2.4.5.2. Market Share & Forecast
          • 7.2.4.5.2.1. By Sukuk Type Market Share Analysis
          • 7.2.4.5.2.2. By Currency Market Share Analysis
          • 7.2.4.5.2.3. By Issuer Type Market Share Analysis

8. Asia-Pacific Sukuk Market Outlook

  • 8.1. Market Size & Forecast
    • 8.1.1. By Value
  • 8.2. Market Share & Forecast
    • 8.2.1. By Sukuk Type Market Share Analysis
    • 8.2.2. By Currency Market Share Analysis
    • 8.2.3. By Issuer Type Market Share Analysis
    • 8.2.4. By Country Market Share Analysis
      • 8.2.4.1. China Sukuk Market Outlook
        • 8.2.4.1.1. Market Size & Forecast
          • 8.2.4.1.1.1. By Value
        • 8.2.4.1.2. Market Share & Forecast
          • 8.2.4.1.2.1. By Sukuk Type Market Share Analysis
          • 8.2.4.1.2.2. By Currency Market Share Analysis
          • 8.2.4.1.2.3. By Issuer Type Market Share Analysis
      • 8.2.4.2. Japan Sukuk Market Outlook
        • 8.2.4.2.1. Market Size & Forecast
          • 8.2.4.2.1.1. By Value
        • 8.2.4.2.2. Market Share & Forecast
          • 8.2.4.2.2.1. By Sukuk Type Market Share Analysis
          • 8.2.4.2.2.2. By Currency Market Share Analysis
          • 8.2.4.2.2.3. By Issuer Type Market Share Analysis
      • 8.2.4.3. India Sukuk Market Outlook
        • 8.2.4.3.1. Market Size & Forecast
          • 8.2.4.3.1.1. By Value
        • 8.2.4.3.2. Market Share & Forecast
          • 8.2.4.3.2.1. By Sukuk Type Market Share Analysis
          • 8.2.4.3.2.2. By Currency Market Share Analysis
          • 8.2.4.3.2.3. By Issuer Type Market Share Analysis
      • 8.2.4.4. South Korea Sukuk Market Outlook
        • 8.2.4.4.1. Market Size & Forecast
          • 8.2.4.4.1.1. By Value
        • 8.2.4.4.2. Market Share & Forecast
          • 8.2.4.4.2.1. By Sukuk Type Market Share Analysis
          • 8.2.4.4.2.2. By Currency Market Share Analysis
          • 8.2.4.4.2.3. By Issuer Type Market Share Analysis
      • 8.2.4.5. Australia Sukuk Market Outlook
        • 8.2.4.5.1. Market Size & Forecast
          • 8.2.4.5.1.1. By Value
        • 8.2.4.5.2. Market Share & Forecast
          • 8.2.4.5.2.1. By Sukuk Type Market Share Analysis
          • 8.2.4.5.2.2. By Currency Market Share Analysis
          • 8.2.4.5.2.3. By Issuer Type Market Share Analysis

9. Middle East & Africa Sukuk Market Outlook

  • 9.1. Market Size & Forecast
    • 9.1.1. By Value
  • 9.2. Market Share & Forecast
    • 9.2.1. By Sukuk Type Market Share Analysis
    • 9.2.2. By Currency Market Share Analysis
    • 9.2.3. By Issuer Type Market Share Analysis
    • 9.2.4. By Country Market Share Analysis
      • 9.2.4.1. South Africa Sukuk Market Outlook
        • 9.2.4.1.1. Market Size & Forecast
          • 9.2.4.1.1.1. By Value
        • 9.2.4.1.2. Market Share & Forecast
          • 9.2.4.1.2.1. By Sukuk Type Market Share Analysis
          • 9.2.4.1.2.2. By Currency Market Share Analysis
          • 9.2.4.1.2.3. By Issuer Type Market Share Analysis
      • 9.2.4.2. Saudi Arabia Sukuk Market Outlook
        • 9.2.4.2.1. Market Size & Forecast
          • 9.2.4.2.1.1. By Value
        • 9.2.4.2.2. Market Share & Forecast
          • 9.2.4.2.2.1. By Sukuk Type Market Share Analysis
          • 9.2.4.2.2.2. By Currency Market Share Analysis
          • 9.2.4.2.2.3. By Issuer Type Market Share Analysis
      • 9.2.4.3. UAE Sukuk Market Outlook
        • 9.2.4.3.1. Market Size & Forecast
          • 9.2.4.3.1.1. By Value
        • 9.2.4.3.2. Market Share & Forecast
          • 9.2.4.3.2.1. By Sukuk Type Market Share Analysis
          • 9.2.4.3.2.2. By Currency Market Share Analysis
          • 9.2.4.3.2.3. By Issuer Type Market Share Analysis
      • 9.2.4.4. Turkey Sukuk Market Outlook
        • 9.2.4.4.1. Market Size & Forecast
          • 9.2.4.4.1.1. By Value
        • 9.2.4.4.2. Market Share & Forecast
          • 9.2.4.4.2.1. By Sukuk Type Market Share Analysis
          • 9.2.4.4.2.2. By Currency Market Share Analysis
          • 9.2.4.4.2.3. By Issuer Type Market Share Analysis
      • 9.2.4.5. Egypt Sukuk Market Outlook
        • 9.2.4.5.1. Market Size & Forecast
          • 9.2.4.5.1.1. By Value
        • 9.2.4.5.2. Market Share & Forecast
          • 9.2.4.5.2.1. By Sukuk Type Market Share Analysis
          • 9.2.4.5.2.2. By Currency Market Share Analysis
          • 9.2.4.5.2.3. By Issuer Type Market Share Analysis

10. South America Sukuk Market Outlook

  • 10.1. Market Size & Forecast
    • 10.1.1. By Value
  • 10.2. Market Share & Forecast
    • 10.2.1. By Sukuk Type Market Share Analysis
    • 10.2.2. By Currency Market Share Analysis
    • 10.2.3. By Issuer Type Market Share Analysis
    • 10.2.4. By Country Market Share Analysis
      • 10.2.4.1. Brazil Sukuk Market Outlook
        • 10.2.4.1.1. Market Size & Forecast
          • 10.2.4.1.1.1. By Value
        • 10.2.4.1.2. Market Share & Forecast
          • 10.2.4.1.2.1. By Sukuk Type Market Share Analysis
          • 10.2.4.1.2.2. By Currency Market Share Analysis
          • 10.2.4.1.2.3. By Issuer Type Market Share Analysis
      • 10.2.4.2. Argentina Sukuk Market Outlook
        • 10.2.4.2.1. Market Size & Forecast
          • 10.2.4.2.1.1. By Value
        • 10.2.4.2.2. Market Share & Forecast
          • 10.2.4.2.2.1. By Sukuk Type Market Share Analysis
          • 10.2.4.2.2.2. By Currency Market Share Analysis
          • 10.2.4.2.2.3. By Issuer Type Market Share Analysis
      • 10.2.4.3. Colombia Sukuk Market Outlook
        • 10.2.4.3.1. Market Size & Forecast
          • 10.2.4.3.1.1. By Value
        • 10.2.4.3.2. Market Share & Forecast
          • 10.2.4.3.2.1. By Sukuk Type Market Share Analysis
          • 10.2.4.3.2.2. By Currency Market Share Analysis
          • 10.2.4.3.2.3. By Issuer Type Market Share Analysis

11. Market Dynamics

  • 11.1. Drivers
  • 11.2. Challenges

12. Market Trends & Developments

  • 12.1. Merger & Acquisition (If Any)
  • 12.2. Sukuk Type Launches (If Any)
  • 12.3. Recent Developments

13. SWOT Analysis

  • 13.1. Strength
  • 13.2. Weaknesses
  • 13.3. Opportunity
  • 13.4. Threat

14. Competitive Landscape

  • 14.1. Company Profiles
    • 14.1.1. Abu Dhabi Islamic Bank PJSC.
      • 14.1.1.1. Business Overview
      • 14.1.1.2. Company Snapshot
      • 14.1.1.3. Sukuk Types & Services
      • 14.1.1.4. Financials (As Reported)
      • 14.1.1.5. Recent Developments
      • 14.1.1.6. Key Personnel Details
    • 14.1.2. Al Baraka Banking Group
    • 14.1.3. Al-Rajhi Bank
    • 14.1.4. Banque Saudi Fransi
    • 14.1.5. Dubai Islamic Bank
    • 14.1.6. HSBC Holdings Plc
    • 14.1.7. Kuwait Finance House
    • 14.1.8. Malayan Banking Berhad
    • 14.1.9. Qatar International Islamic Bank
    • 14.1.10.RHB Bank Berhad

15. Strategic Recommendations/Action Plan

  • 15.1. Key Focus Areas
    • 15.1.1. Target Sukuk Type
    • 15.1.2. Target Currency
    • 15.1.3. Target Issuer Type

16. About Us & Disclaimer

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