Market Insights Health Pharmacies OTC Products

Skin Treatment (Pharmacies) - Morocco

Morocco

Revenue in the Skin Treatment market is projected to reach US$47.76m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.56%, resulting in a market volume of US$62.59m by 2029.
In global comparison, most revenue will be generated in the United States (US$3,319.00m in 2024).
In relation to total population figures, per person revenues of US$1.25 are generated in 2024.

Key regions: Germany, Europe, South Korea, France, China

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Analyst Opinion

The Skin Treatment (Pharmacies) market in Morocco has been experiencing significant growth in recent years. Customer preferences have shifted towards natural and organic skincare products, driving the demand for these products in the market. Additionally, local special circumstances and underlying macroeconomic factors have also contributed to the development of the market. Customer preferences in the Skin Treatment (Pharmacies) market in Morocco have been influenced by a growing awareness of the harmful effects of harsh chemicals found in many skincare products. Consumers are now seeking safer and more sustainable alternatives, leading to an increased demand for natural and organic skincare products. This trend is in line with global market preferences, as consumers worldwide are becoming more conscious of the ingredients they put on their skin. Trends in the market indicate that Moroccan consumers are increasingly opting for skincare products that are made from natural ingredients such as argan oil, rose water, and shea butter. These ingredients are known for their nourishing and moisturizing properties, making them highly desirable in skincare products. As a result, Moroccan pharmacies are expanding their offerings to include a wider range of natural and organic skincare products to cater to the growing demand. Local special circumstances in Morocco have also played a role in the development of the Skin Treatment (Pharmacies) market. Morocco is known for its rich natural resources, including argan oil, which is widely used in skincare products. The availability of these local ingredients has made it easier for pharmacies to source and produce natural skincare products, further fueling the market growth. Underlying macroeconomic factors have also contributed to the growth of the Skin Treatment (Pharmacies) market in Morocco. The country's economy has been steadily growing, leading to an increase in disposable income among consumers. As a result, consumers are willing to spend more on skincare products, including those that are natural and organic. This rise in purchasing power has created a favorable market environment for the skincare industry, driving the growth of the market. In conclusion, the Skin Treatment (Pharmacies) market in Morocco is developing due to shifting customer preferences towards natural and organic skincare products, local special circumstances such as the availability of natural ingredients, and underlying macroeconomic factors such as a growing economy. These factors have contributed to the increasing demand for skincare products in Moroccan pharmacies and are likely to continue driving the growth of the market in the future.

Methodology

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.