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 intelligence report by TMR is the outcome of intense study and rigorous assessment of various dynamics shaping the growth of the market. TMR nurtures a close-knit team of analysts, strategists, and industry experts who offer clients tools, methodologies, and frameworks to make smarter decisions. Our objective, insights, and actionable analytics provide CXOs and executives to advance their mission-critical priorities with confidence.

The scrutiny of the various forces impacting the dynamics of the market, and key and associated industries, guides enterprises in understanding various consumer propositions. Our clients leverage these insights and perspectives to enhance customer experience in the fast-paced business environment.

All our insights and perspectives are broadly based on 4 Pillars or Stages: ASBC-S, which offer an elaborate and customizable framework for the success of an organization. The essence and the roles of these in organizational successes are highlighted below:

  • Agenda for CXOs: TMR, through the study, sets the tone for agendas that are pertinent to CEOs, CFOs, CIOs, and other CXO executives of businesses operating in the market. The perspectives help our clients to bridge the gap between agenda and action plan. TMR strives to offer guidance to CXOs to undertake mission-critical activities empowered by various business analysis tools, and boost the performance of the organizations. The perspectives guide you to decide on your own marketing mix that align well with the policies, visions, and mission.
  • Strategic Frameworks: The study offers how organizations are setting both short-term and long-term strategic plans. Our team of experts collaborate and communicate with you to understand these to make your organizations sustainable and resilient during tough times. The insights help them decide sustainable competitive advantage for each business units.
  • Benchmarking for Deciding Target Markets and Brand Positioning: The assessments in the study provides a scrutiny of marketing channels and marketing mix. Our various teams work synergistically with you to help identify your actual and potential direct, indirect, and budget competition areas. Additionally, the study helps you decide most effective budgets for various processes and promotional activities. Furthermore, the study guides you to set benchmarks for integrating people and processes with the 4Ps of marketing. Eventually, this will empower you to find out unique propositioning strategies and niches.
  • Business Composability for Sustainability (C-S): Constant strategy planning for sustainability characterizing our C-S framework in the report has become more relevant than before in the face of disruptions caused by pandemics, recessions, boom and bust cycles, and changing geopolitical scenario. The TMR study offers a high level of customization to help you achieve business composability. Composable enterprises are increasingly gaining the attention of CXOs in order to help them combat market volatility. Our analysts and industry experts help you wade through such uncertainties and guide you to become a smart sustainable business in entirety.

The study presents scrutiny of region-specific consumer and technology trends, including the most recent industry dynamics. These broadly cover but not limited to

  • North America, South America, and the Americas
  • Asia Pacific and Japan
  • Europe
  • Latin America
  • Middle East and Africa

The study offers data-driven insights and guidance of several aspects. Some of the more notable questions are:

  • What are the major recent trends that can influence the product life cycle and the RoI?
  • Which regulatory trends shape corporate-level, business-level, and functional-level strategies?
  • Which micromarketing initiatives of leading players will bring in investments?
  • What can be the best framework and tools for PESTLE analysis?
  • Which regions will witness rise in new opportunities?
  • Which are the game-changing technologies being used to capture new revenue streams in the near future?
  • Which operational and tactical frameworks are being adopted by various players in gaining customer loyalty?
  • What is the current and expected intensity of competition the market in the near future?

Disclaimer: This market research study is an ongoing effort and extreme care has been taken to maintain the highest levels of accuracy at all stages. However, in the light of the rapidly evolving business dynamics, some region-specific or other segment-specific changes may take time to be part of the study.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Halal Nutraceuticals And Vaccines Market