Key regions: United Kingdom, India, Canada, Germany, China
The Vitamins & Minerals (Pharmacies) market in Ethiopia has been experiencing significant growth in recent years.
Customer preferences: Ethiopian consumers are becoming increasingly health-conscious, leading to a growing demand for vitamins and minerals. As people become more aware of the importance of maintaining a balanced diet, they are turning to supplements to ensure they are getting all the necessary nutrients. Additionally, the rising middle class in Ethiopia has more disposable income to spend on healthcare products, including vitamins and minerals.
Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Ethiopia is the increasing popularity of natural and organic supplements. Consumers are seeking products that are free from artificial ingredients and chemicals, and are opting for natural alternatives. This trend is driven by a desire for healthier and more sustainable lifestyles. Another trend in the market is the growing availability of vitamins and minerals in different forms, such as gummies, powders, and liquids. These alternative forms of supplements are more appealing to consumers who have difficulty swallowing pills or who prefer a different method of consumption.
Local special circumstances: Ethiopia has a large population, with a high proportion of young people. This demographic trend is contributing to the growth of the Vitamins & Minerals (Pharmacies) market, as young people are more likely to be health-conscious and actively seek out supplements. Additionally, the government of Ethiopia has been promoting healthcare and wellness initiatives, which has further increased awareness and demand for vitamins and minerals.
Underlying macroeconomic factors: The growing economy of Ethiopia has had a positive impact on the Vitamins & Minerals (Pharmacies) market. With increasing disposable income, consumers have more money to spend on healthcare products, including supplements. Additionally, the government's focus on improving healthcare infrastructure and access to healthcare services has also contributed to the growth of the market. In conclusion, the Vitamins & Minerals (Pharmacies) market in Ethiopia is experiencing significant growth due to increasing customer preferences for health-conscious products, such as natural and organic supplements, as well as the availability of supplements in alternative forms. The local special circumstances, such as a large population and government initiatives, are also contributing to the growth. The underlying macroeconomic factors, including the growing economy and government focus on healthcare, are further driving the market.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
