The term halal is particularly associated with Islamic dietary laws and especially meat processed & prepared in accordance with those requirements. Halal is an Arabic word that means permissible. 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. A Halal certified product means that the product is permissible or acceptable in accordance with Islamic law. In order for products to receive this certification, they must be from an acceptable source such as a cow or chicken and slaughtered according to these laws. Offering halal certified products allows Muslim consumers to be confident that the products they use are in alignment with their culture and beliefs.
The global halal nutraceuticals and vaccines market is mainly driven by rising Muslim population coupled with their demand for halal products and growing awareness for healthy lifestyle. Increasing initiatives to promote halal products development is also playing a pivotal role in contributing to the growth of the market globally. However, lack of universally acceptable international standards for halal products is likely to restrain the market growth to a certain extent.
The global halal nutraceuticals and vaccines market has been analyzed from three perspectives: Type, Application and Region.
Based on type, the market has been segmented into dietary nutraceuticals and vaccines. The dietary nutraceuticals segment accounted for the largest share in the market. The growth of the market can be attributed to rising awareness about healthy diet and healthy lifestyle which in turn has increased the demand for nutraceuticals among millennials (individuals between age group 24-40 years).
Based on application, the market has been segmented into general well-being, immune & digestive health, heart health, bone & joint health, weight loss, sports nutrition and other applications. The immune & digestive health is expected to be the fastest growing segment during the forecast period. The growth of the segment can be attributed to the rising demand for immunity boosting supplements to support immune health, boost overall wellness and reduce anxiety in the face of the COVID-19 pandemic.
Based on region, the global halal nutraceuticals and vaccines market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). Asia Pacific dominated the halal nutraceuticals and vaccines market, followed by Rest of the World. The large share of Asia Pacific in the global market can largely be attributed to the presence of ~60% of the world’s total Muslim population in the region. Furthermore, rising demand for halal products and presence of prominent players in the region can also be attributed for the growth of the region in the global market.
The halal nutraceuticals and vaccines market is marked by presence of prominent players such as Chemical Company of Malaysia Bhd., Abbott, Amway Corp, Agropur, NoorVitamins, Evonik, PT Kalbe Farma Tbk., Pharmaniaga Berhad, Divi's Nutraceuticals and Nutraleya. Other players operating in the market are AJ Biologics Sdn Bhd, Hak Cipta, Kotra Pharma (M) Sdn Bhd, Sky Resources Sdn. Bhd., Herbalife International of America, Inc., among others.
• In Mar 2021, Swisse launched a halal-certified multivitamin in Singapore and has plans to launch more of such products in the region, with Malaysia and Indonesia the next go-to markets
• In Dec 2020, Gelita acquired the majority stake in SelJel, a Turkish gelatin producer. This joint venture is aimed to strengthen Gelita’s global reach
• In May 2019, OneAgrix, a Singapore-based online marketplace for halal products, has implemented a Blockchain-Based system built by Trace Labs that enables consumers to check the provenance of any products, including its halal certifications
• In Dec 2017, Malaysian healthcare company Pharmaniaga planned to spend 100 million ringgit ($24.6 million) over three years to establish a plant to manufacture halal vaccines
• In Apr 2015, The Islamic Food and Nutrition Council of America (IFANCA) recognized Amway as Company of the Year for its halal-certified Nutrilite™ products
• Quantitative (market size and forecasts) and qualitative insights of the market across years - historical years, current year and forecasted years
• Deep-rooted insights on headwinds, tailwinds and opportunities prevailing in the market
• Quantitative (market size and forecasts) and qualitative insights at segment and sub-segment level
• Comprehensive quantitative (market size and forecasts) and qualitative insights on geographic, regional and country level markets
• Granular insights on the competitive landscape prevailing in the market
• Competitive mapping of strategic developments
|Market Size Period||2018-2031|
|Market Segments||Asessment of Halal Nutraceuticals and Vaccines Market By:
|Geographic Scope||• North America
◦ Rest of Europe (RoE)
• Asia Pacific
◦ Rest of Asia Pacific (RoAPAC)
• Rest of the World
◦ Latin America
◦ Middle East & Africa
|Companies Covered||Chemical Company of Malaysia Bhd., Abbott, Amway Corp, Agropur, NoorVitamins, Evonik, PT Kalbe Farma Tbk., Pharmaniaga Berhad, Divi's Nutraceuticals and Nutraleya, AJ Biologics Sdn Bhd, Hak Cipta, Kotra Pharma (M) Sdn Bhd, Sky Resources Sdn. Bhd., Herbalife International of America, Inc., among others.|
1 RESEARCH ENVELOPE
1.1 Market Classification
1.2 Scope of the Study
1.2.1 Timeline Considered for Market Study
· Historic Years – 2018 & 2019
· Base Year – 2020
· Projected Years – 2021 to 2031
1.3 Currency Used in the Report
2 RESEARCH METHODOLOGY
2.1 Research Approach
2.2 Data Collection Methodology
2.3 Data Sources
2.3.1 Secondary Sources
2.3.2 Primary Sources
2.4 Market Crackdown Methodology
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Data Forecasting Model
2.6 Limitations and Assumptions for Study
3 HEADWINDS & TAILWINDS ASSESSMENT
4 MARKET OPPORTUNITIES ASSESSMENT
5 PREMIUM INSIGHTS
5.1 Key Market Trends
5.2 Key Players & Their Competitive Positioning (2020)
5.3 COVID-19 Impact Assessment
6 GLOBAL HALAL NUTRACEUTICALS AND VACCINES MARKET - ANALYSIS & FORECAST, BY TYPE
6.1 Dietary Nutraceuticals
7 GLOBAL HALAL NUTRACEUTICALS AND VACCINES MARKET - ANALYSIS & FORECAST, BY APPLICATION
7.1 General Well-Being
7.2 Immune & Digestive Health
7.3 Heart Health
7.4 Bone & Joint Health
7.5 Weight Loss
7.6 Sports Nutrition
7.7 Others Application
8 GLOBAL HALAL NUTRACEUTICALS AND VACCINES MARKET - ANALYSIS & FORECAST, BY REGION
8.1 North America Halal Nutraceuticals and Vaccines Market
8.1.1 North America Halal Nutraceuticals and Vaccines Market, By Country
8.1.2 North America Halal Nutraceuticals and Vaccines Market, By Type
8.1.3 North America Halal Nutraceuticals and Vaccines Market, By Application
8.2 Europe Halal Nutraceuticals and Vaccines Market
8.2.1 Europe Halal Nutraceuticals and Vaccines Market, By Country/Region
188.8.131.52 Rest of Europe (ROE)
8.2.2 Europe Halal Nutraceuticals and Vaccines Market, By Type
8.2.3 Europe Halal Nutraceuticals and Vaccines Market, By Application
8.3 Asia Pacific Halal Nutraceuticals and Vaccines Market
8.3.1 Asia Pacific Halal Nutraceuticals and Vaccines Market, By Country/Region
184.108.40.206 Rest of Asia Pacific (RoAPAC)
8.3.2 Asia Pacific Halal Nutraceuticals and Vaccines Market, By Type
8.3.3 Asia Pacific Halal Nutraceuticals and Vaccines Market, By Application
8.4 Rest of the World (RoW) Halal Nutraceuticals and Vaccines Market
8.4.1 Rest of the World Halal Nutraceuticals and Vaccines Market, By Region
220.127.116.11 Latin America
18.104.22.168 Middle East & Africa
8.4.2 Rest of The World Halal Nutraceuticals and Vaccines Market, By Type
8.4.3 Rest of The World Halal Nutraceuticals and Vaccines Market, By Application
9 COMPANY PROFILES
9.1 Chemical Company of Malaysia Bhd.
9.1.1 Business Overview
9.1.2 Financial Metrics*
9.1.3 Product Portfolio
9.1.4 Key Developments
9.3 Amway Corp
9.7 PT Kalbe Farma Tbk.
9.8 Pharmaniaga Berhad
9.9 Divi's Nutraceuticals
*Insights on financial metrics is subject to availability of information in the public domain
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