In terms of the VMS market of MENA, there are five key segments: vitamins and minerals, fatty-acids, protein, probiotics, and other.
Over the last 12-months, key market drivers include increasing health consciousness amongst consumers, education and awareness of the benefits of preventative healthcare, rising aging populations, intolerances and other ailments such as diabetes, all of which have contributed to a vast number of the population choosing to adopt a heathier lifestyle.
In terms of market constraints, high price points and stringent regulations in certain countries have had a slightly negative impact on sales and brand growth.
Let’s look at some data to back this up. The wellness supplements market of the MENA region is anticipated to reach 16.61 billion USD by the end of 2021. And, thanks to an estimated CAGR of 6.24%, will reach 22.49 billion USD over the next five years.
As mentioned above, because of consumers’ willingness to add VMS products into their daily lives, through increased self-medication, the region offers several opportunities for international brands looking to enter the market. This is also helped thanks to expanding distribution networks across the region and an increasing number of chemists and pharmacies, making it easier for new brands to reach potential customers.