The Growing Demand for Halal Pharma

The global halal food market will be worth $1.6TN by 2018, according to a report commissioned by the Dubai Chamber of Commerce. In 2013, the global halal market was estimated at $700B. Medicines comprised almost 25% of that, with the rest in food & cosmetics. The pharma market is currently developing a niche for halal biologics. Halal makes for a smart investment because halal products are acceptable to non-Muslims consumers too.

Halal is an Arabic word meaning lawful or permitted. In relation to human consumption, the products must be processed according to halal dietary laws and regulations that determine what is permissible and clean. The basic reasons given for the prohibition of certain food consumption are due to their impurities to the human body.  In the process of trade and commerce, forbidden components include:

  • pork gelatin capsules
  • glycerin
  • rennet
  • certain enzymes
  • emulsifiers
  • fillers
  • anti-clotting agents

Products have to be certified and labeled properly to indicate that the food or drug product is permissible to be consumed by Muslims. Such as, cough syrup. Cough syrup contains ethanol that is not permissible to Muslims. Halal consumers are also interested in cleaning products, lubricants, and hand sanitizer products.  There is a growing interest and desire of halal products from pharma that has barely been tapped and is worth investigating for both development and investment. As the Muslim population expands across the globe in tourism and travel, there is a greater demand in global marketing for halal products and drugs.

To learn more about how your organization can enhance it’s global presence and create a customer-centric approach, be sure to attend Digital Pharma Europe. The 2016 event is hosted by AstraZeneca at the Alderley Park Facility in Cheshire, UK this 1-3 March and brings together over 200 life science leaders from across Europe and around the world who are implementing the latest trends in digital and social channels to enhance customer experience. To learn more about this event please download the brochure or visit the websiteClick here to register and be sure to mention Priority Code C791BLOG.

 

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