Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Saudi Arabia

Saudi Arabia

In Saudi Arabia, the revenue generated in the Vitamins & Minerals market market in 2024 amounts to US$51.35m.
It is projected that the market will experience an annual growth rate of 10.37% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, with US$5,328.00m in 2024.
In terms of per person revenues, in Saudi Arabia generates US$1.37 in 2024.
Saudi Arabia's growing health consciousness is driving an increased demand for vitamins and minerals in the OTC Pharmaceuticals market.

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

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Analyst Opinion

The Vitamins & Minerals market in Saudi Arabia is experiencing significant growth and development.

Customer preferences: Customers in Saudi Arabia 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 supplements for maintaining good health. Saudi Arabian consumers are particularly interested in vitamins and minerals that can boost their immune system, improve their energy levels, and enhance their overall vitality. They are also looking for products that are natural, organic, and free from artificial additives or preservatives.

Trends in the market: One of the key trends in the Vitamins & Minerals market in Saudi Arabia is the rising popularity of dietary supplements. Many consumers are turning to supplements as a convenient and effective way to meet their nutritional needs. This trend is driven by factors such as busy lifestyles, limited access to fresh and healthy food options, and a desire for quick and easy solutions to health concerns. As a result, there is a growing demand for a wide range of vitamins and minerals in various formats, including tablets, capsules, powders, and liquids.Another trend in the market is the increasing availability of vitamins and minerals in retail stores and online platforms. Previously, these products were primarily sold in pharmacies and specialized health stores. However, with the growing demand, they are now more widely available in supermarkets, convenience stores, and online marketplaces. This increased accessibility has made it easier for consumers to purchase vitamins and minerals, further driving the market growth.

Local special circumstances: Saudi Arabia has a young and growing population, which is contributing to the expansion of the Vitamins & Minerals market. Younger consumers are more proactive about their health and are more likely to incorporate vitamins and minerals into their daily routines. Additionally, the government of Saudi Arabia has been actively promoting healthy lifestyles and preventive healthcare, which has further increased awareness and demand for vitamins and minerals.

Underlying macroeconomic factors: The growing Vitamins & Minerals market in Saudi Arabia is also influenced by macroeconomic factors. The country has a strong economy and high disposable income levels, which allows consumers to spend more on health and wellness products. Additionally, Saudi Arabia has a well-developed healthcare infrastructure and a robust regulatory framework, ensuring the safety and quality of vitamins and minerals available in the market. These factors contribute to the overall growth and development of the market.In conclusion, the Vitamins & Minerals market in Saudi Arabia is witnessing significant growth and development due to increasing customer preferences for health and wellness products, the rising popularity of dietary supplements, the increasing availability of vitamins and minerals in retail stores and online platforms, the young and growing population, and the underlying macroeconomic factors.

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.