A growing demand for vitamins and dietary supplements (VDS) in Africa will generate billions within the next three years, a recent analysis from global research group, Euromonitor has revealed.
As consumers and public health agencies aim to reduce and prevent chronic diseases and increase healthy life spans, demand for supplements as a tool to prevent medical conditions and stay healthy has increased.
According to Euromonitor’s researchers, trends towards healthy lifestyles and disease prevention are generating growth opportunities and challenges for VDS firms, especially among consumers looking to avoid expensive healthcare costs and enjoy healthier lives. However, regulation is simultaneously becoming stricter.
Companies are adjusting to a new, connected and more informed consumer demanding clean label supplements. Creating healthier, more diverse portfolios will drive growth in this new scenario. Consumers have increased their expenditure on VDS since 2011.
Vitamins and dietary supplements are an emerging market in Middle East and Africa, driven by growing health awareness, increasing self-medication, expansion of distribution networks, and the entrance of new brands.
The Euromonitor team said “This region offers several opportunities for vitamins and dietary supplements as consumers willingly include such products as part of their daily lives. In most markets in this region, the growth of vitamins and dietary supplements is supported by rising health awareness among consumers increasingly focused on taking better care of themselves”.
In fact, the market for VDS in the Middle East and Africa is projected to grow at the fastest pace reaching over $2 billion by 2021.
The number of chemists and pharmacies in the region is rising, in turn increasing access to vitamins and dietary supplements and thus aiding further growth.
North America, Australasia and Asia Pacific saw the highest increase in VDS purchases. Greater awareness about healthy ageing and the broader availability of products with specific positioning around functional health claims have contributed to this increase. However, contamination and adulteration of VDS remains a global concern.
Euromonitor believes that in the Middle East and Africa, the VDS industry will become more interactive.
“The combination of direct-to-consumer genetic testing and use of self-monitoring devices, web and mobile apps and easy remote access to medical consultations are transforming prevention. This is a great opportunity for the VDS industry to connect and monitor consumers more closely to better match their needs, while creating more partnerships with health facilities around prevention,” the research team concluded.