Middle East and Africa Wellness Supplements Market Trends and Outlook
The Middle East and Africa Wellness Supplements Market growth & size was valued at nearly USD 17 billion during 2022 and is predicted to be rising at a CAGR of 6.24%, to reach nearly USD 23 billion by 2028. The foremost drivers behind this progressive growth can be accredited to different aspects. Initially, the growing elderly populace plays a significant role, as it leads to a greater Middle East and Africa Wellness Supplements Market Demand for health-concerned products and services. Secondly, there is a noticeable move in preference from traditional pharmaceuticals to nutraceuticals, propelled by the growing emphasis on preventive healthcare. Thirdly, the rising interest in customized nutrition is also underwriting this trend. In addition, customers are progressively prioritizing self-directed care, which aligns with the rising trend toward personal health and well-being.
Middle East and Africa Wellness Supplements Market Driving Factors
The Middle East and Africa region has observed a regular uptick in the sales of customer healthcare goods during the present period, with this trend predicted to pursue and even prolong further. Over the past decade, healthcare expenditures have been progressively on the growth around different regions, and the Middle East and Africa are no exception. This increment in spending can greatly be accredited to delicate health consciousness and transforms in lifestyle choices. The increment in the consumption of customer healthcare products signifies an increasing concern among individuals for their well-being, as they strive to deliver their bodies with compulsory nutrition.
According to data from the World Bank, Saudi Arabia’s healthcare expenditure has presented a noteworthy augment, growing from USD 48,226.4 million during 2017 to USD 55,410.68 million during 2021. A substantial portion of customers during the region are aggressively products that bolster immunity, comprising probiotics, and herbal supplements.
The growth of the wellness supplements market in the Middle East and Africa can be accredited to different aspects. Firstly, there is a notable increment in health consciousness among the populace. Customers are progressively identifying the benefits of preventive healthcare and are making a move towards healthier lifestyles. Supplements are seen as a worthwhile addition to a balanced diet, giving that extra boost required for optimal well-being. Furthermore, the region’s aging populace is underwriting the market’s enlargement.
Nonetheless, common health problems such as lactose intolerance and diabetes are propelling the requirement for wellness products. These aspects cooperatively underscore the upward move in the Middle East and Africa Wellness Supplements market demand.
Predicted Growth in the Middle East and Africa Wellness Supplements Market Trend
The Middle East and Africa Wellness Supplements market has been dignified for progressive expansion during the recent period, commonly propelled by an increasing emphasis on health and well-being. Growing levels of disposable income, amalgamated with the prevalence of unhealthy lifestyles leading to different health problems, are underwriting the growing market share of wellness supplements in the MEA region.
In addition, an augmenting deficiency of essential vitamins among the populace, coupled with growing awareness of the health advantages linked with supplement consumption, is propelling market growth. In addition to this, producers’ continuous innovation and the entry of new players into the market are further fostering the growth of the Middle East and Africa wellness supplements market
Middle East and Africa Wellness Supplements Market Segmentation
In terms of geographical segmentation, the Middle East and Africa Wellness Supplements Market can be classified into different regions, involving the UAE, KSA, Israel, the rest of the GCC region, South Africa, Ethiopia, Kenya, Sudan, Egypt, and the remaining locations of the MEA.
This region holds significant potential for innovation and growth. While presently considered the smallest market around the globe, the underdeveloped locations within South Africa, Saudi Arabia, and the UAE hold promise as developing growth hubs within the wellness supplements market.
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