Key regions: United Kingdom, India, Canada, Germany, China
The Vitamins & Minerals (Pharmacies) market in GCC has been experiencing steady growth in recent years. Customer preferences for health and wellness products have been a major driver of this growth. Additionally, local special circumstances and underlying macroeconomic factors have contributed to the positive development of the market. Customer preferences in the GCC region have shifted towards a greater focus on health and wellness. With increasing awareness about the importance of maintaining a healthy lifestyle, consumers are actively seeking out vitamins and minerals to supplement their diets. The growing popularity of fitness and wellness trends has also led to an increased demand for these products. Customers are looking for high-quality vitamins and minerals that can help them achieve their health goals. Trends in the Vitamins & Minerals (Pharmacies) market in the GCC region reflect the global market trends. There has been a rise in the demand for natural and organic products, as consumers are becoming more conscious about the ingredients they consume. This has led to an increase in the availability of organic vitamins and minerals in pharmacies across the region. Additionally, there is a growing demand for specialized vitamins and minerals that target specific health concerns, such as immune support, bone health, and cognitive function. Local special circumstances in the GCC region have also contributed to the growth of the Vitamins & Minerals (Pharmacies) market. The region has a high prevalence of lifestyle diseases, such as diabetes and obesity, which has created a greater need for preventive healthcare. As a result, consumers are increasingly turning to vitamins and minerals to support their overall health and well-being. Furthermore, the GCC countries have a large expatriate population, who often have limited access to fresh and nutritious food. This has further fueled the demand for vitamins and minerals as a way to bridge nutritional gaps. Underlying macroeconomic factors have played a significant role in the development of the Vitamins & Minerals (Pharmacies) market in the GCC region. The GCC countries have experienced strong economic growth in recent years, leading to an increase in disposable incomes. This has allowed consumers to allocate a larger portion of their budgets towards health and wellness products, including vitamins and minerals. Additionally, the region has a well-established healthcare infrastructure, with a large number of pharmacies offering a wide range of vitamins and minerals. This accessibility has further contributed to the growth of the market. In conclusion, the Vitamins & Minerals (Pharmacies) market in the GCC region is developing due to customer preferences for health and wellness products, global market trends, local special circumstances, and underlying macroeconomic factors. As consumers continue to prioritize their health and well-being, the demand for vitamins and minerals is expected to further increase in the coming years.
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)
