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Demand from Hospital and Retail Pharmacies for Halal Nutraceutical and Vaccines to Surpass US$ 52 Bn by 2031: Future Market Insights

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Future Market Insights

19 Aug, 2021, 13:30 GMT

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The halal nutraceutical and vaccines market study by Future Market Insights (FMI) offers compelling insights into factors enabling growth across key segments including type and application. It underscores product launches as a key strategy adopted by market players as they aim for expanding their footprint globally.  

DUBAI, U.A.E, Aug. 19, 2021 /PRNewswire/ -- As per as study by Future Market Insights (FMI), the global market for halal nutraceutical and vaccines is estimated to surpass a valuation of US$ 116.3 Bn by the end of 2031 in comparison to the valuation of US$ 58 Bn in 2021.

The demand for halal nutraceutical & vaccines is surging particularly in countries with sizeable Muslim demography due to the increasing consumption of halal products. As per the findings by the World and Population Trends, the world's Muslim population is projected to reach around 2.2 billion people across the globe by the end of 2030.

Growth prospects are likely to remain positive, supported by growing consumer awareness in favor of halal dietary supplements. Considering this, immune and digestive segment is anticipated to register increasing demand in the coming years

Besides this, government initiatives undertaken to produce and promote halal products will present a positive demand outlook. Improving focus on adopting uniform certifications for halal products specifically across India, Singapore and Malaysia will expedite growth of the halal nutraceutical & vaccines market over the assessment period. 

Among various applications, the general wellbeing application segment is expected to register impressive growth, accounting for over US$ 41 Mn in 2021. In the coming years, the market will gain from the increasing investments in research and development activities as market players seek to introduce innovations in dietary supplements.

The China market for halal nutraceutical & vaccines is expected to emerge as a highly lucrative pocket in Asia Pacific. Backed by growing demand for halal beauty supplements, the pharmaceutical & nutraceutical companies in China will contribute significantly to the market growth.

Request a report sample to gain comprehensive insights at https://www.futuremarketinsights.com/reports/sample/rep-gb-2703

"Manufacturers are investing in a slew of new product launches. There is a high emphasis on receiving halal certifications from esteemed organizations. This in turn will continue offering lucrative opportunities of growth for the market in the near future," said a Future Market Insights analyst.  

Key Takeaways from Halal Nutraceutical & Vaccines Market Survey

  • Demand outlook for China remains optimistic. Presence of some of the leading players will continue creating opportunities for growth in the country.
  • Driven by stringent government regulations regarding halal certification, the UAE market for halal nutraceutical & vaccines will grow at an impressive pace over the forecast period.
  • Demand for halal nutraceutical & vaccines will remain considerably high in Japan and South Korea.
  • Indonesia market is expected to grow at a steady pace owing to the implementation of favourable government policies.
  • Based on distribution channel, Supermarkets are anticipated to account for over 12.71% of market share in 2021.

Key Drivers

  • Government initiatives undertaken towards ascertaining supply of healthy food, keeping in mind requirements of diverse demography of consumers will aid growth overall growth of the market.
  • Focus on uniform certifications for halal products across Malaysia, Indonesia, UAE, and other regions will create conducive environment for growth of the market.

Our advisory services are aimed at helping you with specific, customized insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/ask-question/rep-gb-2703

Competitive Landscape

Halal nutraceutical & vaccines manufacturers are focusing on new product launches to enhance their product portfolio along with addressing changing preferences of consumers.

For instance, in 2020, BlueAngelFarm announced the launch of world's first Emirates Authority for Standardization and Metrology (ESMA) approved halal multi-vitamin and mineral named Essentials that is primarily manufactured to address unmet vitamin and mineral needs of Muslim women.

For instance, in 2021, Swisse launched the halal-certified Swisse Ultivite E-Senital multivitamins in Singapore. With this new launch, company aims at expanding its portfolio of halal certified products and increasing footprint in the markets with a Muslim majority.

Some of the leading players operating in the halal nutraceutical & vaccines market profiled by Future Market Insights are:

  • Chemical Company of Malaysia Berhad
  • PT Kalbe Farma TBK
  • Noor Vitamins
  • AJ Biologics SDN BHD
  • Agropur Inc.
  • Abbott Laboratories
  • Kotra Pharma SDN BHD
  • Nestle
  • Amway
  • Herbalife International of America Inc.
  • Others

More Valuable Insights on Halal Nutraceutical & Vaccines Market

FMI, in its new report, offers an unbiased analysis of the global halal nutraceutical & vaccines market, analyzing forecast statistics through 2021 and beyond. The survey reveals growth projections on in halal nutraceutical & vaccines market with detailed segmentation:

By Product Type:

  • Halal Dietary Supplements
  • Halal Vaccines

By Distribution Channel:

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

By Application:

  • Sports Nutrition
  • General Wellbeing
  • Immune & Digestive Health
  • Bone & Joint Health
  • Heart Health
  • Disease Prevention
  • Weight Loss

By Region:

  • North America
  • Latin America
  • Eastern Europe
  • Western Europe
  • Asia Pacific excluding Japan
  • Japan
  • Middle East and Africa (MEA)

For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/customization-available/rep-gb-2703

Key Questions Covered in the Halal Nutraceutical & Vaccines Market Report 

  • The market survey also highlights projected sales growth for halal nutraceutical & vaccines market between 2021 and 2031
  • The report offers insight into halal nutraceutical & vaccines demand outlook for forecast period 2021-2031
  • halal nutraceutical & vaccines market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
  • halal nutraceutical & vaccines market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Explore FMI's Extensive Coverage on Healthcare Domain

Pediatric Sports Medicine Market: In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for pediatric sports medicine market. The report tracks the global sales of pediatric sports medicine in 20+ high-growth markets, along with analyzing the impact COVID-19 has had on sports medicine in general, and single-pediatric sports medicine in particular.

Orthomolecular Medicine Market: The global orthomolecular medicine market report by FMI sheds light on the important growth dynamics expected to prevail across the 2021-2031 assessment period. Statistics of key segments have been provided across prominent geographies, along with a detailed mapping of the global competitive landscape, rendering this insight a highly effectual one.

Personalized Medicine Market: In its new report, the Future Market Insights (FMI) offers an exhaustive overview of the global personalized medicine market with focus on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the global advanced wound debridement products market structure. The market study presents exclusive information about how the market will grow during the forecast period.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

Contact:

Abhishek Budholiya
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report:
 https://www.futuremarketinsights.com/reports/halal-nutraceuticals-and-vaccines-market
Press Release Source:
 https://www.futuremarketinsights.com/press-release/halal-nutraceuticals-and-vaccines-market

Logo: https://mma.prnewswire.com/media/1197648/FMI_Logo.jpg  

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