The volatile halal neutraceuticals and vaccines market in Japan is expected to impact future volume and value of the market
The global halal neutraceuticals and vaccines market is expected to expand manifold during the period of forecast. The market is anticipated to reach a value of more than US$ 80 Mn by the end of 2026. The global halal neutraceuticals and vaccines market is predicted to record a promising CAGR of 7.7% over the assessment period.
A growing Muslim population, rising demand for halal products, and increased government initiatives to promote halal products are likely to expedite revenue growth of the global halal neutraceuticals and vaccines market. The global halal nutraceuticals and vaccines market is expected to represent incremental opportunity of more than US$ 42,000 Mn between 2016 and 2026.
Regional forecast of the global halal neutraceuticals and vaccines market
Asia Pacific excluding Japan represents the largest market in terms of value share for halal nutraceuticals and vaccines across the globe and is expected to remain dominant in terms of value share over the forecast period. Rising demand for consumption of halal certified dietary supplements such as calcium, fish oil, protein powder and others are supporting the growth of the market across the region.
The Western Europe market is expected to show significant growth in the next decade and hold a market value in excess of US$ 4,000 Mn by 2026, registering a CAGR of 6.5% over the forecast period. On the other hand, the markets of North America, Latin America, Japan and Eastern Europe will be stagnant and will exhibit slow growth till the end of 2026.
Asia Pacific excluding Japan is the most attractive market with a market attractiveness index of more than 4.2 during the forecast period. Middle East and Africa is expected to be the second most lucrative market in the global halal nutraceuticals and vaccines market, recording the highest CAGR of 8.5% within the foreseen period. Japan is expected to be the least attractive market for halal nutraceuticals and vaccines.
Comprehensive study of Japan’s halal neutraceuticals and vaccines market
Japan is anticipated to be the smallest market for halal products, growing at a CAGR of 4.7%. In Japan, halal vaccines are expected to be launched in the year 2022 and the market is forecasted to cross US$ 0.1 Mn by 2022 end and is expected to be valued more than US$ 0.3 Mn by 2026 end. Halal dietary supplements product type segment is estimated to be valued above US$ 110 Mn by 2026 end, expanding at a CAGR of 4.5% during the forecast period.
Hospital pharmacies is the largest distribution channel segment in terms of revenue share in Japan and is expected to account for more than US$ 45 Mn by 2026. Supermarkets segment is anticipated to hold 10.71% market share by 2026. Retail pharmacies segment is expected to grow at the lowest CAGR of 3.8% owing to the more preferred conventional distribution methods such as hospital pharmacies.
General wellbeing was the largest application segment in 2016 in Japan, accounting for more than US$ 15 Mn in market value and is expected to account for less than US$ 39 Mn by 2026 end. Immune & Digestive Health was the second largest segment, accounting for 20.7% of the halal nutraceuticals and vaccines market in the region in 2026 and is expected to account for more than US$ 20 Mn by 2026. Weight loss segment is estimated to grow at the lowest CAGR of 2.8% over the forecast years.
Global halal neutraceuticals and vaccines market: Segmentation
Products
- Halal Dietary Supplements
- Halal Vaccines
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
- Super Markets
Applications
- Sports Nutrition
- General Wellbeing
- Immune & Digestive Health
- Bone & Joint Health
- Heart Health
- Disease Prevention
- Weight Loss
Regions
- North America
- Western Europe
- Eastern Europe
- Latin America
- APEJ
- Japan
- MEA
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by - Sudip Saha, Managing Director and Co-Founder of Future Market Insights
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