Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Jordan

Jordan

In Jordan, the revenue generated in the Vitamins & Minerals market market is projected to reach US$104.30m by 2024.
It is anticipated that the market will experience an annual growth rate of 8.32% (CAGR 2024-2029).
When compared globally, in China leads the market with revenues of US$5,328.00m in 2024.
In terms of per person revenues, in 2024, each individual in Jordan generates US$9.16.
Jordan's growing health-conscious population has led to an increased demand for vitamins and minerals in the OTC pharmaceutical market.

Key regions: Japan, United Kingdom, Australia, Germany, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Vitamins & Minerals market in Jordan has been experiencing steady growth in recent years. Customer preferences have shifted towards healthier lifestyles and a greater emphasis on preventative healthcare. This has led to an increased demand for vitamins and minerals as consumers look to supplement their diets and ensure they are getting all the necessary nutrients.

Customer preferences: In Jordan, there is a growing awareness of the importance of maintaining a healthy lifestyle and preventing health issues through proper nutrition. This has resulted in a shift in customer preferences towards products that promote overall well-being and support specific health concerns. Consumers are increasingly seeking out vitamins and minerals that can help boost their immune system, improve their energy levels, and support their heart health. They are also looking for products that are natural, organic, and free from artificial additives.

Trends in the market: One of the key trends in the Vitamins & Minerals market in Jordan is the rise in demand for personalized nutrition. Consumers are becoming more aware of their individual nutritional needs and are seeking products that are tailored to their specific requirements. This has led to the emergence of personalized vitamin and mineral supplements that are designed to address specific deficiencies or health concerns. Additionally, there is a growing trend towards natural and plant-based supplements, as consumers look for alternatives to synthetic products.Another trend in the market is the increasing popularity of online retail channels. The convenience and accessibility of online shopping have made it a preferred choice for many consumers, especially during the COVID-19 pandemic. Online platforms offer a wide range of vitamins and minerals, allowing consumers to compare products and prices easily. This has also given smaller, local brands the opportunity to reach a wider customer base and compete with larger multinational companies.

Local special circumstances: Jordan has a relatively young population, with a high percentage of millennials and Generation Z. These younger consumers are more health-conscious and willing to invest in their well-being. They are also more likely to research and seek out information on vitamins and minerals, leading to increased demand for these products. Additionally, Jordan has a growing middle-class population with increasing disposable incomes, which has contributed to the rising demand for vitamins and minerals.

Underlying macroeconomic factors: The growing demand for vitamins and minerals in Jordan is also influenced by several macroeconomic factors. The country has experienced stable economic growth in recent years, leading to an increase in disposable incomes. This has allowed consumers to prioritize their health and spend more on nutritional supplements. Additionally, the government in Jordan has been actively promoting healthy living and preventative healthcare, which has further fueled the demand for vitamins and minerals.In conclusion, the Vitamins & Minerals market in Jordan is experiencing growth due to changing customer preferences towards healthier lifestyles and preventative healthcare. The rise in demand for personalized nutrition and the increasing popularity of online retail channels are key trends in the market. The young population, growing middle-class, stable economic growth, and government initiatives are local special circumstances that have contributed to the development of the market.

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.