Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Burundi

Burundi

In Burundi, the revenue generated in the Vitamins & Minerals market market in 2024 amounts to US$2.67m.
It is projected that this market will experience an annual growth rate of 12.73% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, amounting to US$5,328.00m in 2024.
In terms of per capita revenue, in Burundi generates US$0.20 per person in 2024.
Burundi's rising health consciousness has led to an increased demand for vitamins and minerals in the OTC pharmaceutical market.

Key regions: Canada, United Kingdom, India, Europe, Brazil

Market

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Analyst Opinion

The Vitamins & Minerals market in Burundi is experiencing steady growth due to increasing customer preferences for healthier lifestyles and rising awareness about the importance of nutritional supplements.

Customer preferences: Customers in Burundi are becoming more health-conscious and are seeking ways to improve their overall well-being. This has led to a growing demand for vitamins and minerals, as these supplements are seen as an effective way to fill nutritional gaps and support a healthy lifestyle. Additionally, with the rise of social media and access to information, customers are becoming more aware of the benefits of vitamins and minerals, further driving the demand in the market.

Trends in the market: One major trend in the Vitamins & Minerals market in Burundi is the increasing popularity of multivitamin supplements. Multivitamins offer a convenient way for customers to ensure they are getting a wide range of essential nutrients in one product. This trend is driven by the busy lifestyles of consumers, who are looking for easy and efficient ways to maintain their health. Alongside multivitamins, there is also a growing demand for specific vitamins and minerals, such as vitamin C, vitamin D, and iron, which are known to support immune health, bone health, and overall vitality.

Local special circumstances: Burundi is a landlocked country in East Africa with a predominantly rural population. Access to fresh and diverse food sources may be limited in certain areas, leading to nutritional deficiencies. This creates a need for vitamins and minerals to supplement the diet and ensure adequate nutrient intake. Additionally, the healthcare system in Burundi is still developing, and the availability of healthcare services may be limited in certain regions. As a result, individuals may turn to vitamins and minerals as a preventive measure to support their overall health and well-being.

Underlying macroeconomic factors: The economic development in Burundi has been relatively slow compared to other countries in the region. However, the increasing disposable income and improving living standards are contributing to the growth of the Vitamins & Minerals market. As people have more purchasing power, they are willing to invest in their health and are willing to spend on nutritional supplements. Furthermore, the government of Burundi has recognized the importance of healthcare and is taking steps to improve the overall well-being of its citizens. This includes initiatives to promote nutrition and raise awareness about the benefits of vitamins and minerals, which further supports the growth of the market.In conclusion, the Vitamins & Minerals market in Burundi is growing due to increasing customer preferences for healthier lifestyles, rising awareness about the importance of nutritional supplements, and the improving economic conditions in the country. The demand for vitamins and minerals is driven by the need to fill nutritional gaps, support overall health, and prevent deficiencies. As the market continues to develop, it is expected to offer opportunities for both local and international players in the industry.

Methodology

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.