Vitamins & Minerals (Pharmacies) - Tanzania

Revenue in the Vitamins & Minerals market is projected to reach US$37.13m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.11%, resulting in a market volume of US$52.34m by 2029.
In global comparison, most revenue will be generated China (US$4.41bn in 2024).
In relation to total population figures, per person revenues of US$0.53 are generated in 2024.

Definition:
The Vitamins and Minerals market encompasses a range of over-the-counter (OTC) natural and synthetic food supplements available through pharmacies. This includes products like multivitamin preparations, minerals, vitamins, tonics, and cod liver oil, presented in various forms such as capsules, dragees, pills, granulate, ampoules, solutions, powders, and syrups for oral consumption. Excluded from this market are prescription medications, items not explicitly categorized as food supplement drugs (e.g., muscle-building preparations), or those primarily intended for cosmetic use. Prominent examples of top-selling vitamin and mineral products include Vitasprint, Orthomol, magnesium granulate, Curazink, and Centrum. This market exclusively covers product sales through pharmacies.

Additional information:
The Vitamins and Minerals market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Vitamin preparations
Mineral preparations (zinc, calcium, magnesium)
Cod liver oil

Prescription medicines
Homeopathic remedies
Probiotics and food products

The Vitamins & Minerals (Pharmacies) market in Tanzania is experiencing steady growth due to increasing customer preferences for health and wellness products, as well as the country's unique local special circumstances.

Customer preferences: Customers in Tanzania are becoming more health-conscious and are actively seeking out vitamins and minerals to support their overall well-being. This shift in preferences is driven by a growing awareness of the importance of preventive healthcare and the desire to lead a healthier lifestyle. As a result, there is a rising demand for vitamins and minerals in pharmacies across the country.

Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Tanzania is the increasing popularity of natural and organic products. Customers are increasingly looking for products that are free from artificial additives and chemicals, and are opting for vitamins and minerals that are sourced from natural ingredients. This trend is in line with the global movement towards clean and sustainable products, and is driving the growth of natural and organic vitamin and mineral supplements in the Tanzanian market. Another trend in the market is the growing demand for personalized nutrition. Customers are seeking customized solutions that meet their specific health needs and goals. This has led to the development of personalized vitamin and mineral formulations, where customers can choose the specific nutrients they require based on their individual requirements. This trend is driven by the increasing understanding of the role that nutrition plays in overall health, and the desire to optimize individual health outcomes.

Local special circumstances: Tanzania has a unique set of local circumstances that contribute to the growth of the Vitamins & Minerals (Pharmacies) market. The country has a large population, with a significant portion of the population living in urban areas. This urbanization trend has led to increased access to pharmacies and healthcare facilities, making it easier for customers to purchase vitamins and minerals. Additionally, Tanzania has a growing middle class population with increasing disposable income. This has resulted in a higher spending power and a greater willingness to invest in health and wellness products, including vitamins and minerals. The government of Tanzania has also implemented policies and initiatives to promote healthcare and improve access to essential medicines, further driving the growth of the Vitamins & Minerals (Pharmacies) market.

Underlying macroeconomic factors: The overall economic growth and stability of Tanzania play a crucial role in the development of the Vitamins & Minerals (Pharmacies) market. A stable economy and increasing per capita income contribute to higher consumer spending on healthcare and wellness products. Furthermore, the government's focus on improving healthcare infrastructure and promoting preventive healthcare creates a conducive environment for the growth of the Vitamins & Minerals (Pharmacies) market. In conclusion, the Vitamins & Minerals (Pharmacies) market in Tanzania is experiencing growth due to increasing customer preferences for health and wellness products, such as natural and organic supplements, as well as personalized nutrition. The country's unique local circumstances, including urbanization and a growing middle class population, further contribute to the growth of the market. The overall economic stability and government initiatives to improve healthcare also play a significant role in the development of 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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.