Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Mozambique

Mozambique

In Mozambique, the Vitamins & Minerals market market generates a revenue of US$12.19m in 2024.
It is projected to experience an annual growth rate of 3.98% (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 person revenues, in Mozambique generates US$0.35 in 2024.
Despite the growing awareness of the importance of vitamins and minerals in Mozambique, the market still faces challenges in terms of accessibility and affordability for the majority of the population.

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

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Analyst Opinion

The Vitamins & Minerals market in Mozambique is experiencing significant growth and development. Customer preferences are shifting towards a healthier lifestyle, leading to an increased demand for vitamins and minerals. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the growth of this market.Customer preferences in Mozambique are changing as people become more health-conscious. With increasing awareness about the benefits of vitamins and minerals, consumers are incorporating these supplements into their daily routines. This shift in preferences is driven by a desire to maintain overall well-being and prevent nutritional deficiencies. As a result, the demand for vitamins and minerals is on the rise.Trends in the market indicate a growing interest in natural and organic products. Consumers are increasingly seeking vitamins and minerals derived from natural sources, as they perceive them to be safer and more effective. This trend is in line with the global market, where natural and organic products are gaining popularity. Manufacturers are responding to this demand by introducing a wider range of natural and organic vitamins and minerals in the market.Local special circumstances in Mozambique also contribute to the development of the Vitamins & Minerals market. The country has a high prevalence of malnutrition, especially among children and pregnant women. This has led to increased government initiatives and programs to address malnutrition and improve access to essential nutrients. As a result, there is a growing awareness and demand for vitamins and minerals to combat malnutrition and improve overall health.Underlying macroeconomic factors also play a role in the growth of the Vitamins & Minerals market in Mozambique. The country's economy has been growing steadily in recent years, leading to an increase in disposable income. As people have more purchasing power, they are able to afford nutritional supplements, including vitamins and minerals. This rise in disposable income has contributed to the expansion of the market and the availability of a wider range of products.In conclusion, the Vitamins & Minerals market in Mozambique is experiencing growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards a healthier lifestyle, the demand for natural and organic products, government initiatives to address malnutrition, and the increase in disposable income are all contributing to the expansion of this market. As the market continues to evolve, it is expected to offer more diverse and innovative products to meet the growing demand for vitamins and minerals in Mozambique.

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.