KUALA LUMPUR, June 14 (Bernama) — Malaysia, one of the largest producers of palm oil in the world, has the potential to capture a slice of the halal gelatine market.
Halal Industry Development Corp’s (HDC) chief executive officer, Datuk Seri Jamil Bidin, said currently, less than one per cent of the world’s gelatine production was derived from halal sources.
“Malaysia’s palm oil can be used as a source to produce halal gelatine. The country also has the potential in the halal vaccine market, he said.
Jamil said this at a media briefing after the launch of the Halal Pharmaceutical and Health Product 2011 (HALPHARM) Conference here Tuesday.
He said halal vaccines could help improve public health, particularly in Muslim countries and the world at large.
“The halal vaccine will eliminate fears and doubts among Muslim communities worldwide on its compliance with halal principles,” he said.
Jamil said the value of global halal market was approximately US$2.3 trillion annually and the main portion was food and beverage, which made up 62 per cent of the total market.
The other major segments were pharmaceutical with 22 per cent, cosmetics and personal care 10 per cent and nutraceutical six per cent, he said.
On the conference, Jamil said, the growing interest in pharmaceuticals and health products also provided a legitimate foundation and platform for industry players to network and exchange vital information and knowledge on halal pharmaceutical.
The two-day HALPHARM 2011 is hosted by HDC and joint organised by Asif International Sdn Bhd, Johor Institute of Management Development, Islamic Science University of Malaysia and Global Integrity Products and Services Sdn Bhd.
It aims to address the current development currently taking place in the halal pharmaceutical industry.