Halal pharmaceuticals include the vaccines and nutraceuticals containing ingredients which are compliant with the Shariah (Islamic religious) law. Halal products are manufactured by adhering to the Good Manufacturing Practices (GMP) standards with approved halal raw materials. Halal nutraceuticals are derived from halal food sources that offer high nutritional value and health benefits. They can be classified into the functional food, dietary supplement, and processed food categories. Dietary supplements are defined as liquids or capsules containing nutrients found in foods such as minerals, vitamins, herbs, amino acids, and botanicals. They are consumed as a supplement to one;s regular diet. Halal vaccines do not contain alcohol or raw materials from porcine origin and are non-toxic. They are processed in separate manufacturing units to avoid any cross contamination.

Government initiatives to promote halal products and increasing demand for them among the Muslim population are major factors driving the halal nutraceuticals and vaccines market. These initiatives are witnessed in various countries with a vast Muslim population and include development of necessary infrastructure, administrative support, encouraging investments in halal products & services, adoption of uniform certification across the country, and special incentives. For instance, in Malaysia, the Ministry of International Trade & Industry (MITI) develops halal pharmaceutical products & services to make the country a halal hub. MITI’s initiatives include adopting a standardized logo, streamlining procedures & fees, providing special incentives, and intensifying promotional activities. In addition, halal pharmaceuticals are driven by the needs and preferences of the estimated 1.6 billion Muslims worldwide, expected to grow by 1.6% annually, accounting for 29% of the world population. However, factors such as challenges in terms of developing substitutes for halal ingredients in pharmaceutical products, huge capital investments in manufacturing facilities, and the lack of acceptable international standards are anticipated to hamper the halal nutraceuticals and vaccines market.

The market has been segmented by type of product into the following categories: halal dietary neutraceuticals and halal vaccines. Based on application, the halal nutraceuticals and vaccines market has been divided into the following groups: sports nutrition, general well-being, immune health, bone health, heart health, disease prevention, and weight loss. On the basis of distribution channel, the market has been divided into the following sections: hospital pharmacies, retail pharmacies, online sales, and super markets.

Geographically, the halal nutraceuticals and vaccines market is distributed over North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is a major market and projected to remain dominant over the forecast period, on account of the rising demand for halal-certified dietary supplements such as fish oil, calcium, and protein powder in the region. Middle East & Africa is also likely to be a lucrative market owing to the high demand from Saudi Arabia, the U.A.E., and Kuwait. Europe is the third leading region for halal nutraceuticals and vaccines. France represents a major market. Halal-certified dietary supplements which boost the immune system and strengthen mental health are the key products preferred by consumers in the country. However, the dearth of Muslim population and lack of awareness about halal products restrain the market in North America and Latin America. Nonetheless, the market in these regions is estimated to witness sluggish growth, propelled by the U.S., Canada, and Brazil. Mexico and Brazil are expected to exhibit considerable potential due to the increasing awareness about halal products in these countries.

Key players operating in this market include Abbott Laboratories, Amway, AJ Biologics Sdn Bhd., Agropur, Inc., Chemical Company of Malaysia Berhad, PT Kalbe Farma Tbk, Kotra Pharma (M) Sdn Bhd, and NoorVitamins.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Halal Nutraceuticals Vaccines Market

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