Market Insights Health Pharmacies OTC Products

Vitamins & Minerals (Pharmacies) - Mauritius

Mauritius

Revenue in the Vitamins & Minerals market is projected to reach US$2.48m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.63%, resulting in a market volume of US$3.11m 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$1.91 are generated in 2024.

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

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Analyst Opinion

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

Customer preferences: Customers in Mauritius are becoming increasingly health-conscious and are actively seeking out products that promote overall well-being. This includes a growing interest in vitamins and minerals that can support a healthy lifestyle. As a result, there is a rising demand for these products in pharmacies across the country.

Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Mauritius is the growing popularity of natural and organic products. Customers are looking for supplements that are made from natural ingredients and free from artificial additives. This trend is driven by a desire for healthier and more sustainable options. Pharmacies are responding to this demand by stocking a wider range of natural and organic vitamins and minerals. Another trend in the market is the increasing availability of personalized supplements. Customers are seeking customized solutions that cater to their specific health needs. This includes personalized vitamin and mineral blends that are tailored to individual requirements. Pharmacies are offering personalized consultation services to help customers choose the right supplements for their needs, further driving the growth of the market.

Local special circumstances: Mauritius is known for its vibrant tourism industry, attracting visitors from around the world. Many tourists come to the country seeking wellness retreats and are interested in purchasing health supplements during their stay. This has created an additional customer base for the Vitamins & Minerals (Pharmacies) market in Mauritius, as pharmacies cater to the needs of both locals and tourists.

Underlying macroeconomic factors: The growing Vitamins & Minerals (Pharmacies) market in Mauritius can also be attributed to the country's overall economic development. As the economy continues to grow, disposable incomes are increasing, allowing individuals to prioritize their health and well-being. This has led to a greater willingness to spend on vitamins and minerals, contributing to the market's growth. In conclusion, the Vitamins & Minerals (Pharmacies) market in Mauritius is expanding due to customer preferences for health and wellness products, including natural and personalized supplements. The local special circumstances, such as the tourism industry, further contribute to the market's growth. Additionally, the country's economic development plays a significant role in driving the demand for vitamins and minerals.

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.