Vitamins & Minerals (Pharmacies) - Eastern Africa

  • Eastern Africa
  • Revenue in the Vitamins & Minerals market is projected to reach US$280.20m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.56%, resulting in a market volume of US$403.40m 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$0.61 are generated in 2024.

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

 
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Analyst Opinion

The Vitamins & Minerals (Pharmacies) market in Eastern Africa is experiencing steady growth and development.

Customer preferences:
Customers in Eastern Africa have shown a growing interest in maintaining their health and well-being, leading to an increased demand for vitamins and minerals. With rising awareness about the importance of a balanced diet and the role of supplements in filling nutritional gaps, consumers are turning to pharmacies as a convenient source for these products. Additionally, the aging population in the region is driving the demand for vitamins and minerals to support healthy aging and address age-related health concerns.

Trends in the market:
One prominent trend in the Vitamins & Minerals (Pharmacies) market in Eastern Africa is the growing popularity of natural and organic supplements. Consumers are increasingly seeking products that are free from artificial additives and chemicals, and are opting for natural alternatives. This trend is driven by a desire for healthier options and a preference for products that are perceived as more sustainable and environmentally friendly. Another trend in the market is the increasing availability of personalized supplements. Pharmacies are now offering customized vitamin and mineral formulations tailored to individuals' specific needs and health goals. This trend is fueled by advancements in technology and the growing understanding of personalized nutrition. Customers are seeking supplements that are designed to address their unique requirements, such as age, gender, and specific health conditions.

Local special circumstances:
Eastern Africa is a region with a diverse population and varying dietary habits. Traditional herbal remedies and natural ingredients have long been used in local healthcare practices. This cultural background has influenced the demand for vitamins and minerals in the region. Customers in Eastern Africa often prefer supplements that incorporate traditional ingredients or are derived from local plants and herbs. Pharmacies are catering to this preference by offering a range of products that combine traditional remedies with modern nutritional science.

Underlying macroeconomic factors:
The growing middle class in Eastern Africa is a key driver of the Vitamins & Minerals (Pharmacies) market. As disposable incomes rise, more individuals are able to afford nutritional supplements and are willing to invest in their health. Additionally, urbanization and changing lifestyles have led to a shift in dietary patterns, with an increased consumption of processed foods and a decrease in the intake of fresh fruits and vegetables. This has created a need for supplements to bridge the nutritional gap. The healthcare infrastructure in Eastern Africa is also improving, with an increasing number of pharmacies and healthcare facilities, making vitamins and minerals more accessible to the population. In conclusion, the Vitamins & Minerals (Pharmacies) market in Eastern Africa is experiencing growth due to customer preferences for natural and personalized supplements, local cultural influences, and underlying macroeconomic factors such as a growing middle class and changing dietary patterns. As the region continues to develop, the market is expected to expand further, providing opportunities for both local and international players in the industry.

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.

Overview

  • Revenue
  • Analyst Opinion
  • Global Comparison
  • Methodology
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