Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Northern Africa

Northern Africa

Northern Africa's revenue in the Vitamins & Minerals market market reaches US$0.77bn in 2024.
It is projected to experience a yearly growth rate of 7.00% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue with US$5,328.00m in 2024.
In terms of per capita income, each individual in Northern Africa generates US$2.93 in revenue in 2024.
In Northern Africa, there is a growing demand for natural and organic vitamins and minerals in the OTC Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Vitamins & Minerals market in Northern Africa has been experiencing steady growth in recent years. Customer preferences in the region have shifted towards a more health-conscious lifestyle, with a growing awareness of the importance of vitamins and minerals for overall well-being. Consumers are increasingly seeking out products that can help them meet their nutritional needs and support their immune system. This has led to an increased demand for vitamins and minerals supplements in Northern Africa.One of the key trends in the market is the rising popularity of natural and organic products. Consumers are becoming more conscious of the ingredients in the products they consume and are opting for natural alternatives. This trend is particularly strong in Northern Africa, where there is a rich tradition of herbal medicine and natural remedies. As a result, there has been a growing demand for vitamins and minerals derived from natural sources, such as fruits, vegetables, and herbs.Another trend in the market is the increasing focus on personalized nutrition. Consumers are looking for products that are tailored to their specific needs and preferences. This has led to the development of customized supplements that target specific health concerns, such as immune support, energy boost, or bone health. Companies in the region are investing in research and development to create innovative products that cater to these individual needs.Local special circumstances in Northern Africa also play a role in shaping the Vitamins & Minerals market. The region has a high prevalence of vitamin and mineral deficiencies, particularly among vulnerable populations such as children and pregnant women. This has led to increased government initiatives and public health campaigns to address these deficiencies and promote the consumption of fortified foods and supplements.Underlying macroeconomic factors have also contributed to the growth of the market. Northern Africa has experienced economic growth in recent years, which has led to an increase in disposable income and improved living standards. As a result, consumers are able to afford a wider range of products, including vitamins and minerals supplements.In conclusion, the Vitamins & Minerals market in Northern Africa is developing due to changing customer preferences towards a healthier lifestyle, the rising popularity of natural and organic products, the focus on personalized nutrition, local special circumstances such as vitamin and mineral deficiencies, and underlying macroeconomic factors such as economic growth and increased disposable income.

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.