PROSPECTS AND OPPORTUNITIES
Strong growth for dietary supplements amid rising health awareness
There is significant potential for dietary supplements to thrive in Nigeria over the forecast period, driven by an improved economy that is set to boost consumer spending power. Furthermore, rising health awareness will continue to drive the need for nutritional supplementation as consumers seek to prevent illness and improve overall wellbeing.
Strong demand for fish oils and combination dietary supplements
Fish oils/omega fatty acids and combination dietary supplements are poised to maintain strong performances over the forecast period. These products are viewed as essential by consumers, with combination dietary supplements particularly valued for their effectiveness in promoting immune health and overall wellness.
Local brands have considerable scope for expansion
High unit prices and inflationary pressures will continue to limit the growth potential of dietary supplements over the forecast period. Demand for these products heavily relies on consumers' disposable incomes, meaning that reduced spending power will negatively impact the category.
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Overview:
Understand the latest market trends and future growth opportunities for the Dietary supplements industry in Nigeria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Dietary supplements industry in Nigeria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Dietary supplements in Nigeria report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Dietary supplements in Nigeria?
- Which are the leading brands in Dietary supplements in Nigeria?
- How are products distributed in Dietary supplements in Nigeria?
- How has the regulatory and operating environment for Dietary supplements changed in Nigeria?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Dietary supplements
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Dietary Supplements in Nigeria - Category analysis
KEY DATA FINDINGS
Rising unit prices drive strong value growth as volumes decline
Combination dietary supplements lead growth
Smaller brands offer affordable alternatives
Strong growth for dietary supplements amid rising health awareness
Strong demand for fish oils and combination dietary supplements
Local brands have considerable scope for expansion
Consumer Health in Nigeria - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Dietary supplements
- Combination Dietary Supplements
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- Aloe
- Combination Herbal/Traditional Dietary Supplements
- Cranberry
- Echinacea
- Evening Primrose Oil
- Garlic
- Ginkgo Biloba
- Ginseng
- St John's Wort
- Other Herbal/Traditional Dietary Supplements
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- Co-Enzyme Q10
- Combination Non-Herbal/Traditional Dietary Supplements
- Eye Health Supplements
- Fish Oils/Omega Fatty Acids
- Glucosamine
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- Calcium Supplements
- Mineral Supplements
- Probiotic Supplements
- Protein Supplements
- Other Non-Herbal/Traditional Dietary Supplements
Dietary supplements
It is the aggregation of all dietary supplements: Minerals, fish oils/omega fatty acids, garlic, ginseng, ginkgo biloba, evening primrose oil, Echinacea, St John's Wort, protein supplements, probiotic supplements, eye health supplements, co-enzyme Q10, glucosamine, combination herbal/traditional supplements, non-herbal/traditional supplements, and all other dietary supplements specific to country coverage.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Dietary supplements research and analysis database.
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