Vitamins & Minerals - Pakistan

Pakistan

Highlights

In Pakistan, the revenue in the Vitamins & Minerals market market stands at US$88.70m in 2024.
Looking ahead, the market is projected to witness an annual growth rate of 11.80% (CAGR 2024-2029).
When compared to other countries globally, China leads the way with a revenue of US$5.33bn in 2024.
Taking population figures into account, per person revenues amount to US$0.36 in 2024.
Pakistan's growing middle class is driving the demand for vitamins and minerals in the OTC pharmaceuticals market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

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

Customer preferences: Customers in Pakistan are increasingly becoming health-conscious and are seeking ways to improve their overall well-being. This has led to a growing demand for vitamins and minerals, as they are seen as essential nutrients that can help support a healthy lifestyle. Additionally, the rising prevalence of lifestyle diseases such as diabetes and obesity has also contributed to the increased demand for these products.

Trends in the market: One of the key trends in the Vitamins & Minerals market in Pakistan is the growing popularity of natural and organic products. Consumers are becoming more aware of the potential health benefits of natural ingredients and are actively seeking out products that are free from artificial additives and preservatives. This trend is driving the demand for vitamins and minerals derived from natural sources such as fruits, vegetables, and herbs. Manufacturers are responding to this trend by introducing a wide range of natural and organic products to cater to the evolving preferences of consumers.Another trend in the market is the increasing availability of fortified food and beverages. Fortification involves adding essential vitamins and minerals to food and beverages to enhance their nutritional value. This trend is particularly prevalent in the dairy and cereal sectors, where products such as fortified milk and breakfast cereals are gaining popularity among consumers. The fortification of food and beverages is seen as a convenient way for consumers to meet their daily nutritional requirements, especially for those who may have limited access to fresh fruits and vegetables.

Local special circumstances: Pakistan has a large population, with a significant portion of the population living in rural areas. This presents unique challenges in terms of access to healthcare and nutritious food. Many people in rural areas may not have easy access to fresh fruits and vegetables, which can lead to nutritional deficiencies. As a result, there is a greater need for vitamins and minerals to supplement the diet and address these deficiencies. Additionally, the prevalence of malnutrition in certain segments of the population, such as children and pregnant women, further drives the demand for these products.

Underlying macroeconomic factors: Pakistan has been experiencing economic growth in recent years, which has led to an increase in disposable income among consumers. This has allowed more people to afford vitamins and minerals as part of their daily routine. Additionally, the growing middle class in Pakistan has also contributed to the increased demand for these products. As people become more aware of the importance of good health, they are willing to spend more on products that can help them achieve and maintain a healthy lifestyle.In conclusion, the Vitamins & Minerals market in Pakistan is growing due to the increasing health-consciousness among consumers, the popularity of natural and organic products, the availability of fortified food and beverages, the unique challenges in terms of access to healthcare and nutritious food, and the underlying macroeconomic factors such as economic growth and the growing middle class.

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.