Saturday, 4 March 2017
APeJ is the largest market for halal nutraceuticals and vaccines
The global halal neutraceuticals and vaccines market is expected to expand significantly with a CAGR of 7.7% between 2016 and 2026, according to a report by Future Market Insight Global & Consulting. The market is anticipated to reach a value of more than US$80 million by the end of 2026, representing an incremental opportunity of more than US$4.2 billion between 2016 and 2026.
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.
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. Middle East and Africa is expected to be the second-most lucrative market, recording the highest CAGR of 8.5% within the forecast period.
On the other hand, the Japanese market will be stagnant till the end of 2026, growing at a CAGR of 4.7%. In Japan, halal vaccines are expected to be launched in the year 2022 and the market is forecast to cross US$0.1 million by end-2022 end, and worth US$0.3 million by end-2026.
Download the Halal Nutraceuticals & Vaccines Market report (January 2017)