Halal Nutraceutical & Vaccines Market Snapshot
The halal nutraceutical & vaccines market revenue is forecast to surpass US$ 58.01 Bn in 2021, as per Future Market Insights analysis. Backed by favorable government initiatives across the U.S., Malaysia, and other countries, the market is expected to reach US$ 116. 38 Bn by 2031.
Growth prospects are likely to remain positive over the coming years, supported by increasing demand for halal dietary supplements. Hospital pharmacies and retail pharmacies will exhibit high demand, accounting for over US$ 52 Bn in revenues by 2031-end.
Key Points Covered in Halal Nutraceutical & Vaccines Market Study
- Market estimates and forecast 2021-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Halal nutraceutical & vaccines tools market and How to Navigate
- Recommendation on Key Winning Strategies
Halal Nutraceutical & Vaccines Market Historic Sales Compared to 2021-2031 Forecast Outlook
The global halal nutraceutical & vaccines market is anticipated to grow at a steady rate, reaching for over US$ 58.01 Bn in 2021. Demand for halal products in the vast Muslim population countries, which is bolstering the market growth.
Manufacturers are tapping into the markets with increasing Muslim population such as Indonesia, Malaysia, Singapore and other countries of Asia Pacific excluding Japan (APEJ).
High demand for halal certified products across APEJ is expected to propel the market demand, with a market index of more than 6.2 during the forecast period. More than 80% of the global halal nutraceutical & vaccines market revenue are anticipated to be accounted by Middle East & Africa (MEA) and APEJ collectively.
Government initiatives and campaigns undertaken for encouraging halal products also will benefit the market. However, lack of acceptance and high cost production might hamper the demand.
Sluggish growth due to the lack of awareness and presence of substitute to the halal products, specifically across the U.S., Germany, the U.K. and other western countries, is likely. As per Future Market Insights, the global halal nutraceutical & vaccines market will reach the valuation of over US$ 116.38 Bn during 2021 and 2031.
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Favorable Policies & Increasing Demand from Muslim Population to Spur Sales
Government initiatives across the globe undertaken to promote the consumption of halal products have improved the demand. Also, with increasing demand from muslim population will spur the demand for halal dietary supplements.
As per the World and Population Trends, by 2030, the world’s muslim population is anticipated to reach over 2.2 billion people across the globe. With growing awareness about the halal ingredients combined with prevalence of lifestyle disorders, people are opting for halal dietary supplements such as general wellbeing, weight loss and others.
Rising initiatives from government in various countries with a vast muslim population & encouraging investments in production of halal products will improve the growth.
Also, adoption of uniform certification for halal products & increasing funds across Malaysia, India, Singapore, and other Asia Pacific excluding Japan (APEJ) countries will accelerate the growth over the forecast period.
For instance, the government in Malaysia under the association of the Ministry of International Trade & Industry developed the halal products & services to promote the halal products and make the country a halal hub.
Such initiatives are anticipated to bolster the market growth and provide lucrative revenue for the market players, specifically across APEJ and MEA.
High Cost Production & Lack of Acceptance will impede the Market Growth
Acceptance of halal nutraceutical & vaccines will remain higher across China, Malaysia, and other regions of Asia Pacific excluding Japan and Middle East & Africa.
However, the demand for halal products will remain stagnant across the U.S., Germany, the U.K and other European countries.
The U.S. being the largest exporter of the halal products, sluggish growth across the country will impact the market negatively. High cost production of the halal dietary supplements and lack of acceptance in European countries might restrict the growth.
Due to lack of awareness & acceptance, high presence of substitute of halal products is hampering the demand. Lack of universal acceptance and high cost for halal certification are urging the market players to adopt alternative ingredients for nutraceutical & vaccines.
With stringent rules in compliance with halal methods, production of halal nutraceutical & vaccines has become an intricate task for manufacturers. This, in turn, urges them to indulge in more technological advancements, increasing the cost of production.
Hence, manufacturers are shying away when it comes to producing dietary supplements and other products through halal methods, curbing the production. As a result, these factors are affecting the halal nutraceutical & vaccines market negatively.
How big is the Halal Nutraceutical & Vaccines Market in the U.A.E?
The U.A.E is anticipated be the largest halal nutraceutical & vaccines market over the forecast period, estimates Future Market Insights. U.A.E is one of the top countries ranked with maximum Muslim pharmaceutical consumers.
Halal nutraceuticals & vaccines suppliers across the U.S. and other countries are advised to consult with local importers prior to shipping to verify the application and halal certification of productions to the U.A.E., says Food & Agricultural Import Regulations and Standards 2020.
The report also states that products and dietary supplements exported from any other countries such as the U.S. should comply with all the halal labelling requirements.
The policy states that the product should have halal certification that must include logo of the approved U.S. Islamic organization, port of loading, production & expiry date, importer & exporter name, slaughtering date and other few strict regulations.
The U.A.E government have the made the rules stricter to recover the economy from the loss suffered due to the pandemic. As the economy in the UAE is highly dependent upon travel & tourism, including food & beverages, contributing roughly 10% of GDP.
The government have reduced the import-export taxes and as it has one of the largest Muslim population, the regulatory norms have become stricter for halal products.
With the stricter regulations, exporters as well as importers must receive UAE approval for their dietary supplements & food additives and identify them on the product label as halal.
These regulatory policies across the country will continue to drive the demand over the coming years.
How will the Demand for Halal Nutraceutical & Vaccines will soar in Japan?
The halal nutraceutical & vaccines market across Japan is anticipated to witness a sluggish growth over the forecast period owing to the high cost production for the halal products. Lack of acceptance to halal products is expected to limit the market growth.
High production cost for halal compliance and increasing consumption of halal ingredients substitutes will also curb the production of halal nutraceutical & vaccines in the pharmaceutical industry.
As per the FMI’s analysis, general wellbeing is anticipated to be the largest application in Japan, while immune & digestive health segment stood at the second position in terms of application.
Application in immune & digestive health across Japan is anticipated to account for over 22.7% market share over the forecast period.
How is the Demand for Halal Nutraceutical & Vaccines Products Soaring across Indonesia?
As per the International Trade Administration, the Indonesia’s Ministry of Religion in October 2020 issued a regulatory policy via decree number 464 a list of 48 types of products that mandates the halal certification.
As per the policy, the government imposed the norms that the products such as fats, oils, supplements, milk, sugar, and other bakery food items must obtain halal certifications.
Halal nutraceutical & vaccines industry players, due to the regulatory policies, are compelled to either obtain halal certification or display the label that their products are not halal.
The latter choice affects the product sales hence market players are scurrying to get the halal certification for the products, which is boosting the market demand. The halal law in the country implementing regulations enacted in October 2019 and will become mandatory starting from October 2024.
The favorable regulatory policies across the country combined with the rising preference for halal dietary supplements will aid the market growth over the coming years.
Since the past few years, Indonesia ranks third in terms of Muslim pharmaceutical expenditure, and is estimated as one of the largest halal food spending country, states World Population Review.
As the fourth most populous country across the globe, with maximum Muslim population, Indonesia is a lucrative market for the halal nutraceutical & vaccines market players.
As per Future Market Insights, Indonesia is anticipated to be one of the most lucrative country propelling growth in Asia Pacific excluding Japan.
What are the Key Factors Enabling Growth in China?
China is expected to be one of the most lucrative market across Asia Pacific excluding Japan, registering a market share of 2.5% by 2031, estimates Future Market Insights. Demand for halal nutraceutical and vaccines will continue to be associated with acceptance of halal methods over other.
Demand for halal beauty supplements have urged the pharmaceutical & nutraceutical companies in China to adhere to the guidelines of halal products & process.
Take for example, Shaanxi Virgin Element Biotech Co. Ltd. and Shandong Yuwang Pharmaceuticals Co. Ltd., both the companies are producing halal vitamins OEM softgel supplement and vitamin halal kosher supplements since past few decades.
Due to health benefits of halal supplements and other advantages industry players have increased the uptake of halal dietary supplements across the country catering consumer requirements.
High prevalence of nutraceutical & pharmaceutical companies in China producing and promoting the halal products have accelerated the market demand.
Companies such as Jiangsu Handian Biotechnology Co. Ltd., Hebei Xianri Biotechnology Co. Ltd., Shandong Yuwang Pharmaceutical Co. Ltd and others are increasing the production of halal gummy vitamins supplements across the country, generating lucrative revenues.
What is Affecting Halal Dietary Supplements Demand?
Demand for halal dietary supplements is expected to remain higher in China, Malaysia, Dubai, and other MEA countries. Dietary supplements contains ingredients such as fish oil, protein and calcium, which are not halal.
Hence, consumer preference for halal dietary supplements such as weight loss, or immunity boosting supplements will augment the market growth. Surging muslim population and increasing initiatives by government for the promotion and production of halal products will boost the growth.
Across the globe, muslim population accounts for 24% of the world population, which is 1.8 billion as of 2020, as per the national statistics of nations online project report. Hence, with rising prevalence of lifestyle disorders such as diabetes, thyroid and other, demand for halal dietary supplements is burgeoning.
Which Distribution Channel will hold the Lead in Halal Nutraceutical & Vaccines Market?
While hospital pharmacies are currently the dominating segment, supermarkets segment will register an impressive demand, accounting for over 12.71% of market share by 2021.
Hospital pharmacies are anticipated to grow substantially during the forecast period due to the expansion of healthcare industry and increasing production of halal products & vaccines across the globe.
With the increasing consolidation of healthcare industry giants and research & development activities for the manufacturing the halal dietary supplements, the segment is expected to register demand.
Which Application will Exhibit High Demand in Halal Nutraceuticals & Vaccines Market?
In terms of application, the market is segmented into sports nutrition, general wellbeing, immune & digestive health, bone & joint health, heart health, disease prevention, and weight loss.
Future Market Insights forecasts, general wellbeing is expected to be the largest application contributing the demand of halal nutraceutical & vaccines. The segment growth is expected to bolster due to growing consumer demand across Japan.
General wellbeing application segment is anticipated to register positive growth, accounting for over US$ 41 Mn through 2021.Immune and digestive is anticipated to be the second-largest segment after general wellbeing, backed by the high demand for halal dietary supplements.
Rising demand for halal certified products such as supplements containing fish oil, protein are supporting the general wellbeing segment growth.
With the unprecedented outbreak of COVID-19, the demand for COVID-19 vaccine have burgeoned across the globe. Governments and religious leaders in Muslim-majority nations are issuing guidance, raising concerns over the process
As per the report of Hackensack Meridan Health, Pfizer-BioNTech disclosed the ingredients of Covid-19, which included mRNA molecules containing genetic material and lipids that contains cells, which aren’t halal.
The process and production of vaccine is still under scrutiny of Muslim scholar. Hence, demand for halal vaccines for general wellbeing is accelerating.
With the growing cases of obesity and rising prevalence of lifestyle disorders, population with over-weight are increasing the consumption of weight loss supplements.
In most of the Western European countries such as the U.K., Germany and across China, Malaysia, Singapore, increasing consumer demand for halal weight loss supplements have bolstered.
As such, growth of weight loss segment is estimated to grow at over 4.8% CAGR over the forecast period, as per FMI’s analysis.
Production of nutraceuticals & vaccines in compliance with halal methods is becoming an intricate task for manufacturers, compelling them to induce more technological advancements in their production techniques.
This, in turn, is increasing the cost of production which is hampering the revenues of the market players, curbing growth.
Industry players manufacturing halal nutraceuticals & vaccines are obligated to work in accordance to the regulations set by halal certifying agencies such as European Institute of Halal Certification (Germany), Global Halal Certification (UK) and others.
Such an interdependency is likely to restrict manufacturers from producing halal nutraceuticals & vaccines at reduced costs, or even urge the halal certifying agencies for approving certain techniques set by multiple dominant market players.
Dominant player for halal nutraceutical & vaccines market includes Abbott Laboratories, Nestlé, Amway, Herbalife International of America, Inc., AJ Biologics Sdn Bhd., and Agropur, Inc.
Scope of Report
Historical Data Available for
USD Million for Value
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covered
Product Type, Application, Distribution Channel, and Region
Key Companies Profiled
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Key Questions Answered in the Report
What is the current halal nutraceutical & vaccines market value?
The halal nutraceutical & vaccines market is expected to exceed US$ 58,012.6 Mn in 2021
At what rate did the halal nutraceutical & vaccines market grow between 2016 and 2020?
The Halal nutraceutical & vaccines market projected a healthy growth, registering a CAGR at 6.50% between 2016 and 2020.
What are the key trends driving halal nutraceutical & vaccines sales?
Development of non-toxic chemicals and chemicals to curb water consumption in textile production and processing are the factors driving sales.
Who are the leading players of halal nutraceutical & vaccines?
Abbott Laboratories, Nestle, Amway, Herbalife International of America Inc., AJ Biologics SDN, and Agropur Inc. are the prominent players dominating halal nutraceutical & vaccines market.
What will be the demand outlook for North America halal nutraceutical & vaccines market?
North America’s halal nutraceutical & vaccines market sales are anticipated to witness growth at 3.1% in 2031.
At what rate will halal nutraceutical & vaccines demand rise in Europe?
The sales for Halal nutraceutical & vaccines are set to rise at an impressive rate of 6.5% across Europe between 2021 and 2031.
Which are the top countries driving the halal nutraceutical & vaccines market demand?
Top countries in terms of halal nutraceutical & vaccines sales are Switzerland, the U.S., and Malaysia.
What is the current market share of Malaysia and China in the global halal nutraceutical & vaccines market?
While the sales across Malaysia declined by 7.2%, China’s halal & nutraceutical & vaccines market demand is set to grow at 2.5% by 2031.
Halal nutraceutical & vaccines Market by Category
By Product Type:
- Halal Dietary Supplements
- Halal Vaccines
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Sales
- Super Markets
- Sports Nutrition
- General Wellbeing
- Immune & Digestive Health
- Bone & Joint Health
- Heart Health
- Disease Prevention
- Weight Loss
- North America
- Latin America
- Eastern Europe
- Western Europe
- Asia Pacific excluding Japan
- Middle East and Africa (MEA)