Vitamins & Minerals - Morocco

Morocco

Highlights

In Morocco, the revenue in the Vitamins & Minerals market market is projected to reach US$97.23m in 2024.
This market is expected to grow annually by 0.62% (CAGR 2024-2029).
When compared globally, China generates the highest revenue in this market, amounting to US$5.33bn in 2024.
In terms of per person revenues, in Morocco generates US$2.54 in 2024.
In Morocco, there is a growing trend among consumers to prioritize natural and organic vitamins and minerals in the OTC Pharmaceuticals market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vitamins & Minerals market in Morocco has been experiencing steady growth in recent years.

Customer preferences: Moroccan consumers have become increasingly health-conscious, leading to a growing demand for vitamins and minerals. With a rising awareness of the importance of a balanced diet and the role of vitamins and minerals in maintaining good health, consumers are actively seeking out products that can supplement their nutritional needs. Additionally, the aging population in Morocco is driving the demand for vitamins and minerals, as older individuals often require additional supplements to support their overall well-being.

Trends in the market: One of the key trends in the Vitamins & Minerals market in Morocco is the growing popularity of natural and organic products. Consumers are becoming more discerning about the ingredients in the products they consume and are opting for natural alternatives. This trend is also influenced by the global movement towards sustainability and eco-friendly practices. As a result, manufacturers in the market are increasingly focusing on developing and promoting natural and organic vitamins and minerals.Another trend in the market is the rise of personalized nutrition. Consumers are seeking customized solutions that cater to their specific health needs and goals. This has led to the emergence of personalized vitamin and mineral supplements that are tailored to individual requirements. Advances in technology have made it easier for consumers to access personalized nutrition solutions, further driving the growth of this trend.

Local special circumstances: Morocco is known for its rich agricultural resources, including a variety of fruits and vegetables. This has created opportunities for local producers to tap into the vitamins and minerals market. Moroccan companies are leveraging the abundance of natural resources to develop and manufacture vitamin and mineral supplements using locally sourced ingredients. This not only supports the local economy but also appeals to consumers who prefer products with a local origin.

Underlying macroeconomic factors: The growing middle class in Morocco is a significant driver of the Vitamins & Minerals market. As disposable incomes rise, consumers have more purchasing power and are willing to invest in their health and well-being. This has created a favorable environment for the market to thrive.Furthermore, the government of Morocco has been actively promoting healthcare and wellness initiatives, which has further contributed to the growth of the Vitamins & Minerals market. The government's focus on preventive healthcare and the promotion of a healthy lifestyle has increased awareness among consumers and encouraged them to incorporate vitamins and minerals into their daily routines.In conclusion, the Vitamins & Minerals market in Morocco is experiencing steady growth due to increasing customer preferences for healthier lifestyles, the emergence of natural and organic products, and the rise of personalized nutrition. Local special circumstances, such as the availability of agricultural resources, and underlying macroeconomic factors, including a growing middle class and government initiatives, have also contributed to the market's development.

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.