Key regions: Germany, Europe, South Korea, France, China
The Skin Treatment (Pharmacies) market in Ethiopia is experiencing significant growth due to customer preferences for natural and organic skincare products, as well as the increasing awareness of the importance of skincare in maintaining overall health and well-being. Customer preferences in the Ethiopian skincare market are shifting towards natural and organic products. Consumers are becoming more conscious of the ingredients in their skincare products and are actively seeking out products that are free from harmful chemicals and synthetic additives. This trend is driven by a desire for healthier and more sustainable options, as well as a growing awareness of the potential long-term effects of using products with artificial ingredients. As a result, pharmacies in Ethiopia are expanding their offerings to include a wider range of natural and organic skincare products to meet this increasing demand. Another factor contributing to the growth of the Skin Treatment (Pharmacies) market in Ethiopia is the rising awareness of the importance of skincare in maintaining overall health and well-being. Ethiopian consumers are becoming more educated about the benefits of proper skincare and are willing to invest in products that can improve the condition of their skin. This increased awareness is driving the demand for skincare products, particularly those that target specific skin concerns such as acne, aging, and hyperpigmentation. Pharmacies in Ethiopia are capitalizing on this trend by stocking a variety of skincare products that cater to different skin types and concerns. In addition to customer preferences, there are several local special circumstances that are contributing to the growth of the Skin Treatment (Pharmacies) market in Ethiopia. The country has a large and growing population, with a significant portion of the population falling within the target demographic for skincare products. This provides a large customer base for pharmacies to cater to and allows for economies of scale in sourcing and distribution. Furthermore, Ethiopia has a rapidly expanding middle class with increasing disposable income, which is driving consumer spending on skincare products. Underlying macroeconomic factors also play a role in the development of the Skin Treatment (Pharmacies) market in Ethiopia. The country's economy is experiencing steady growth, which has led to an increase in consumer purchasing power. This has resulted in higher demand for skincare products, as consumers are able to afford to spend more on personal care items. Additionally, the government of Ethiopia has implemented policies to promote domestic manufacturing and reduce reliance on imports. This has created opportunities for local skincare brands to thrive and has contributed to the overall growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in Ethiopia is developing due to customer preferences for natural and organic skincare products, increasing awareness of the importance of skincare, local special circumstances such as a growing population and expanding middle class, and underlying macroeconomic factors such as steady economic growth and government policies promoting domestic manufacturing.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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