DUBAI, UAE / ACCESSWIRE / July 13, 2020 / The MENA nutraceuticals market is expected to display an impressive 7.1% CAGR between 2015 and 2020. According to FMI reports, the current covid-19 pandemic is moderately impacting the MENA nutraceuticals industry, as supplies of products run out, despite high demand for preventive healthcare and dietary supplement products. Sales continue apace as consumers seek nutraceuticals for immune boosting properties against the covid-19 virus.
"The demand for dietary supplements is still nascent in the Middle East and North Africa region, which is rapidly growing owing to rise in self-medication, health awareness, the emergence of new brands, and investments in distribution networks, which will sustain sales growth long after the contagion comes under control," says the FMI analyst.
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MENA Nutraceuticals Market - Important Takeaways
- Probiotic supplements is a fast-growing segment, driven by consumer awareness about potential health benefits.
- Supermarkets and hypermarkets are the primary distribution channels for nutraceuticals in the MENA region, supported by a robust retail infrastructure.
- GCC is a key nutraceuticals market in MENA, aided by a large aging population and higher disposable income.
MENA Nutraceuticals Market - Driving Factors
- Rapid growth of the pharmacy and retail sectors supports sales of nutraceuticals in MENA.
- Strong demand for dietary supplements, propelled by health-conscious population bolsters sales.
- Rise in disposable incomes coupled with expenditure on health foods is aiding market growth.
MENA Nutraceuticals Market - Leading Constraints
- Poor regulatory standards governing the MENA nutraceuticals market is a major constraint to market growth.
- Lack of awareness about nutraceutical products, particularly in rural regions holds back sales and revenue.
Expected Impact on Market by COVID-19 Outbreak
Lockdown and social distancing measures to curb the outbreak are having a disruptive effect on nutraceutical supplies in the MENA region. In addition, restrictions on international trade is also affecting inventories, which will have a moderate impact on the MENA nutraceuticals market. Strong demand for nutraceuticals for preventive healthcare purposes will sustain market developments through and after the pandemic.
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Competition Landscape
Some of the top players operating in the MENA nutraceutical market are Kellogg's BASF SE, Danone, General Mills, Nestle SE, and Amway. Market players are pushing for strategic mergers and acquisitions to bolster market presence. For instance, Salt of the Earth is promoting clean label sodium reduction ingredients in nutraceuticals.
More on the Report
FMI's provides in-depth insights on the MENA nutraceutical market. The market is segmented in terms of ingredients (vitamin & mineral, herbal supplements, proteins & amino acids, fatty acids, probiotics, and others), and distribution channel (supermarket & hypermarket, pharmacies & drug stores, online channels, and others) across three key regions (GCC, North Africa, and Rest of Middle East).
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About FMI
FMI is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and MENA. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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