Turkey
Market overview: The halal pharmaceutical industry in Turkey has significant potential due to the country’s large Muslim consumer market and the government’s efforts to promote halal standards across various industries. The country is also strategically located at the crossroads of Europe and Asia, making it a significant player in the global halal industry.
Market Size: Turkey has a population of 86 millions of with 99% are Muslims
Market Potential: The halal pharmaceutical market in Turkey was estimated to be approximately 316 million USD in 2018. Although no recent statistic was found on the actual market size, the demand for halal pharmaceutical products in Turkey has been steadily increasing due to the country’s significant Muslim population and their preference for halal-certified products. Furthermore, the government’s efforts to promote halal standards across various industries, including pharmaceuticals, could lead to further growth in the halal pharmaceutical market in the coming years
Market Activity: Overall, the Turkish halal pharmaceutical market is a growing industry with increasing activity and support from the government and the private sector. The demand for halal-certified pharmaceutical products is expected to continue to grow, providing opportunities for Turkish pharmaceutical companies to expand their market share both domestically and internationally.