Market Insights Health Pharmacies OTC Products

Vitamins & Minerals (Pharmacies) - Algeria

Algeria

Revenue in the Vitamins & Minerals market is projected to reach US$64.97m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.23%, resulting in a market volume of US$64.24m by 2029.
In global comparison, most revenue will be generated in China (US$4,414.00m in 2024).
In relation to total population figures, per person revenues of US$1.40 are generated in 2024.

Key regions: United Kingdom, India, Canada, Germany, China

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Analyst Opinion

The Vitamins & Minerals (Pharmacies) market in Algeria is experiencing significant growth due to various factors. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to the development of this market. Customer preferences in Algeria have shifted towards a greater focus on health and wellness. As people become more aware of the importance of maintaining a balanced diet and taking care of their overall well-being, the demand for vitamins and minerals has increased. Consumers are increasingly seeking out these products to supplement their diets and ensure they are getting the necessary nutrients. Trends in the market also play a role in the growth of the Vitamins & Minerals (Pharmacies) market in Algeria. The global trend towards natural and organic products has influenced the Algerian market as well. Consumers are increasingly looking for vitamins and minerals that are derived from natural sources and free from artificial additives. This trend is driving the demand for organic and plant-based supplements. Local special circumstances in Algeria further contribute to the development of the Vitamins & Minerals (Pharmacies) market. The country has a high prevalence of vitamin and mineral deficiencies, particularly among certain population groups such as pregnant women and children. This has created a strong need for supplementation and has led to increased demand for vitamins and minerals in pharmacies. Underlying macroeconomic factors also play a role in the growth of the Vitamins & Minerals (Pharmacies) market in Algeria. The country has experienced steady economic growth in recent years, leading to an increase in disposable incomes. As people have more money to spend, they are willing to invest in their health and well-being, including purchasing vitamins and minerals from pharmacies. In conclusion, the Vitamins & Minerals (Pharmacies) market in Algeria is developing due to shifting customer preferences towards health and wellness, global trends towards natural and organic products, local special circumstances such as vitamin and mineral deficiencies, and underlying macroeconomic factors such as economic growth and increased disposable incomes. This market is expected to continue growing as consumers prioritize their health and seek out products to support their well-being.

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.