Key regions: United Kingdom, India, Canada, Germany, China
The Vitamins & Minerals (Pharmacies) market in Morocco has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances.
Customer preferences: Customers in Morocco are becoming increasingly health-conscious, leading to a growing demand for vitamins and minerals. They are more aware of the importance of maintaining a healthy lifestyle and are actively seeking products that can support their overall well-being. As a result, there has been a shift towards preventive healthcare, with consumers looking for supplements to support their immune system, boost energy levels, and improve overall vitality. Additionally, there is a growing interest in natural and organic products, as customers are becoming more conscious of the ingredients they consume.
Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Morocco is the rising popularity of multivitamin supplements. These products offer a convenient way for consumers to meet their daily nutritional needs, as they contain a combination of essential vitamins and minerals. Multivitamins are particularly appealing to busy individuals who may not have the time or resources to consume a balanced diet. Moreover, the market is witnessing an increasing demand for specialized supplements targeting specific health concerns, such as bone health, heart health, and cognitive function. This trend reflects the growing awareness of the role that vitamins and minerals play in maintaining optimal health.
Local special circumstances: Morocco has a diverse population with varying dietary habits and nutritional needs. This diversity is reflected in the demand for different types of vitamins and minerals. For example, individuals following a vegetarian or vegan diet may require supplements to ensure they are meeting their nutritional requirements. Similarly, pregnant women and older adults have specific nutritional needs that may not be fully met through diet alone. As a result, there is a growing demand for specialized supplements catering to these specific groups.
Underlying macroeconomic factors: Morocco's growing middle class and increasing disposable income have contributed to the growth of the Vitamins & Minerals (Pharmacies) market. As people have more money to spend, they are willing to invest in their health and well-being. Additionally, the government's focus on healthcare and wellness initiatives has further fueled the market growth. The increasing number of pharmacies and health stores across the country has made vitamins and minerals more accessible to the general population. In conclusion, the Vitamins & Minerals (Pharmacies) market in Morocco is experiencing growth due to changing customer preferences towards preventive healthcare, the rising popularity of multivitamin supplements, and the diversity of the population's nutritional needs. The market is also supported by underlying macroeconomic factors such as the growing middle class and government initiatives promoting healthcare and wellness.
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.
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