PROSPECTS AND OPPORTUNITIES
Growing focus on preventative healthcare will help to drive performance as economy improves
The vitamins market in Nigeria holds significant growth potential over the forecast period. Although sales have risen steadily as awareness increases, per-capita consumption remains relatively low.
Vitamin C and multivitamins will continue to lead category performance
Vitamin C is expected to maintain strong growth in retail volume terms over the forecast period. This vitamin will continue to benefit from its widely held reputation as being essential for boosting immunity, particularly in preventing or reducing the severity of cold symptoms.
Premium brands will perform well, driven by upper-income consumer base
High unit prices are expected to continue affecting vitamin sales, prompting manufacturers and retailers to offer a diverse range of brands to cater to different consumer segments. Despite this, the core market remains middle- to upper-income consumers, leading international companies to prioritise premium brands with higher profit margins.
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Overview:
Understand the latest market trends and future growth opportunities for the Vitamins 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 Vitamins 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 Vitamins 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 Vitamins in Nigeria?
- Which are the leading brands in Vitamins in Nigeria?
- How are products distributed in Vitamins in Nigeria?
- How has the regulatory and operating environment for Vitamins changed in Nigeria?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Vitamins
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Vitamins in Nigeria - Category analysis
KEY DATA FINDINGS
Economic conditions impact sales of vitamins
Multivitamins and vitamin C see strongest performances
Diverse range of offerings cater to low- and upper-income consumers
Growing focus on preventative healthcare will help to drive performance as economy improves
Vitamin C and multivitamins will continue to lead category performance
Premium brands will perform well, driven by upper-income consumer base
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:
Vitamins
- Multivitamins
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- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Other Single Vitamins
Why 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 Vitamins research and analysis database.
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