Market Insights Health Pharmacies OTC Products

Vitamins & Minerals (Pharmacies) - Jordan

Jordan

Revenue in the Vitamins & Minerals market is projected to reach US$82.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.74%, resulting in a market volume of US$103.70m 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$7.22 are generated in 2024.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Vitamins & Minerals (Pharmacies) market in Jordan is experiencing steady growth due to increasing customer preferences for health and wellness products.

Customer preferences: Customers in Jordan are becoming more conscious about their health and are seeking ways to improve their overall well-being. This has led to a growing demand for vitamins and minerals, as these products are seen as essential for maintaining good health. Customers are particularly interested in products that can boost their immune system, improve their energy levels, and enhance their cognitive function. They are also looking for natural and organic options, as they are becoming more aware of the potential side effects of synthetic supplements.

Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Jordan is the increasing popularity of personalized nutrition. Customers are seeking customized solutions that are tailored to their specific health needs and goals. This has led to the emergence of personalized vitamin and mineral packs, where customers can choose the specific nutrients they need in the right dosage. This trend is driven by advancements in technology, which allow for easy customization and personalization of products. Another trend in the market is the growing demand for online purchasing. Customers are increasingly turning to online pharmacies to buy their vitamins and minerals, as it offers convenience and a wider range of products. Online platforms also provide customers with the ability to compare prices, read reviews, and access expert advice, which further enhances their shopping experience.

Local special circumstances: The Vitamins & Minerals (Pharmacies) market in Jordan is influenced by the country's unique cultural and religious factors. Jordan has a predominantly Muslim population, and as a result, there is a demand for halal-certified products. Customers in Jordan are more likely to purchase vitamins and minerals that are certified as halal, as it aligns with their religious beliefs and dietary restrictions.

Underlying macroeconomic factors: The growing Vitamins & Minerals (Pharmacies) market in Jordan can be attributed to several macroeconomic factors. The country has a stable economy with a growing middle class, which has led to an increase in disposable income. As a result, customers have more purchasing power and are willing to spend on health and wellness products. Additionally, the government of Jordan has been actively promoting a healthy lifestyle and encouraging its citizens to prioritize their health. This has created a favorable environment for the growth of the Vitamins & Minerals (Pharmacies) market.

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.