Nutraceuticals & vaccines that are manufactured using the Good Manufacturing Practice (GMP) Standards and that are complaint with the Shariah Law (Governs all aspects of Muslim life) are referred to as halal (lawful) products. To be qualified as halal, products must not contain any ingredients that include parts or products from non-halal animals, such as pigs and dogs. Also, they must not contain any parts or products from animals that are not slaughtered according to Sharia law.
Market Industry Reports (MIR) has published a new report titled “Halal Nutraceuticals and Vaccines Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Halal Nutraceuticals and Vaccines Market is estimated to be over US$ 39,849.6 Mn in 2018. It is anticipated to grow at a CAGR of 7.8% from 2019 to 2030.
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Some of the prominent players in the Halal Nutraceuticals and Vaccines Market:
Chemical Company of Malaysia Berhad, NoorVitamins, PT Kalbe Farma Tbk, AJ Biologics Sdn Bhd, Kotra Pharma (M) Sdn Bhd, Abbott Laboratories, Agropur, Inc., Amway, Sky Resources Group
The growth of the global halal nutraceuticals and vaccines market can be attributed to several factors which have led to wide scale adoption of halal products. Growing Muslim population is a primary driver contributing to the growth of this market. Furthermore, rising demand for halal products, and increased government initiatives to promote halal products are fueling to the growth of the global halal nutraceuticals and vaccines market between 2019 and 2030. To obtain better insights regarding the market scenario, prominent players are increasingly focusing on collaborative initiatives with several institutes and research centers. In 2017, Pharmaniaga collaborated with Technology Depository Agency (TDA) and India-based Hilleman Laboratories, to produce halal vaccines for diphtheria and meningitis.
As a standard protocol at MIR, all research assignments go through the following rigorous processes.
- Secondary Research
- Primary Research
- Market Size Estimation & Forecasting
- Data Validation & Triangulation
- Report Generation
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Table of Contents
- Market Definition
- Market Classification
- Geographic Scope
- Years Considered for the Study: Historical Years – 2017 & 2018; Base Year – 2019; Forecasted Years – 2020 to 2030
- Currency Used
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Market Estimation Methodology
- Data Validation and Triangulation
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESSMENT
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