[2021] Global Halal Nutraceuticals & Vaccines Market Development Status, Future Growth, Growing At A CAGR of 7.6%, Surpass US$ 88,511.3 Million by 2027 | CMI

SEATTLE, May 04, 2021, (PHARMIWEB) —

Overview:

Halal vaccines are non-toxic and comply with Shariah law. They do not contain any porcine-derived raw materials or alcohol. To prevent cross contamination, halal vaccines are manufactured in different processing units.

In terms of revenue, the global halal nutraceuticals and vaccines market is forecast to hit US$ 49,345.7 million in 2019 and US$ 88,511.3 million by the end of 2027.

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Drivers:

The global halal nutraceuticals and vaccines market is set to augment due to the newly developed concept of halalopathy, which blends religion and modern science with a focus on the purity (halal/tayyib) of the ingredients used in medication and food to help a patient’s healing in accordance with their beliefs.

Opportunities:

For market leaders, the establishment of an e-commerce-based distribution system is projected to provide attractive growth opportunities. E-commerce websites guide consumers to confirmed retailers, reducing the risk of being misled by vendors claiming to be halal accredited. Furthermore, consumers can check whether a commodity is halal or not by looking at the halal certificate on the website of a licenced halal organisation.

Restraints:

The global halal nutraceuticals and vaccines market is expected to be hampered by the high capital investment needed for dedicated production facilities. To prevent cross-contamination with non-halal drugs, dedicated machines must be used during the manufacture of halal pharmaceuticals. As per the Shariah law, sanitary conditions in the production facility must be maintained.

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Market Trends:

Several companies stop selling halal nutraceuticals and vaccines in order to appeal to a wider audience, including non-Muslims. Furthermore, retailers stop labelling halal goods in Muslim-minority markets for fear of losing non-religious consumers.

Due to the limited number of drugs available, some countries, such as Indonesia, have decided to postpone mandatory halal certification for pharmaceuticals until 2024.

Competitive Landscape

Key companies contributing in the global halal nutraceuticals & vaccines market are Herbalife International of America, Inc., Amway, Nestlé, Chemical Company of Malaysia Berhad, NoorVitamins, Abbott Laboratories, Kotra Pharma (M) Sdn Bhd, PT Kalbe Farma Tbk, Agropur, Inc. (Davisco Business Unit), and AJ Biologics Sdn Bhd.

Key Developments

Ashland concluded a licencing agreement with Clasado BioSciences in October 2019 to add Bimuno prebiotics to its health and wellbeing portfolio.

BioCell Technology, LLC reported in March 2018 that its anti-aging component BioCell collagen is now halal approved.

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Detailed Segmentation

 By Product Type:

• • Vaccines
  • Dietary Supplements

By Application:

• • Sports Nutrition
  • General Well-Being
  • Immune & Digestive Health
  • Bone & Joint Health
  • Heart Health
  • Disease Prevention
  • Weight loss

 By Distribution Channel:

• • Hospital Pharmacies
  • Retail Pharmacies
  • Online Sales
  • Super Markets

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