The Mena nutraceuticals market is primarily driven by the increasing health consciousness among the population of the MENA region. Nutraceuticals products such as probiotics, prebiotics, and dietary supplements provide several health benefits such as improved digestion, immune system support, heart health, joint health, and others. The growing trend of preventive healthcare and the rising cases of lifestyle diseases in the region are fueling the demand for nutraceuticals.
Key players operating in the Mena nutraceuticals market are BASF SE, Herbalife Nutrition, Danone, Amway, Nestle, and Abbott Nutrition.
The Global Mena nutraceuticals market is estimated to be valued at US$ 34 Billion in 2024 and is expected to exhibit a CAGR of 8% over the forecast period 2024–2029.
Key Takeaways
Key players: Key players operating in the Mena nutraceuticals market are BASF SE, Herbalife Nutrition, Danone, Amway, Nestle, and Abbott Nutrition. These players are focusing on new product launches, enhancing their distribution networks across emerging markets, and adopting strategic mergers and acquisitions to expand their regional presence.
Key opportunities: The untapped rural markets in the MENA region present lucrative growth opportunities for nutraceutical manufacturers. Moreover, the improving healthcare infrastructure and rising disposable incomes are expected to create a favorable environment for industry players over the coming years.
Global expansion: Leading nutraceutical companies are actively partnering with local distributors and retailers to tap into the high-potential nutraceuticals markets in the MENA region. They are also investing in marketing activities to raise awareness regarding health benefits. This is helping them to rapidly scale up their operations across Middle Eastern and North African countries.
Market Drivers
The key driver for the growth of the Mena Nutraceuticals Market Demand is the growing health awareness among the population of the MENA region. With the prevalence of sedentary lifestyle and unhealthy dietary habits, common ailments like obesity, diabetes, cardiovascular diseases are on the rise. This has triggered preventive healthcare approach and people are more inclined towards adopting healthy eating and fitness regimes. Furthermore, the growing influence of globalization has exposed Middle Eastern consumers to international nutrition and diet trends that are fueling the adoption of nutraceuticals supplements. The market is also driven by aggressive promotional activities by industry players and rising affordability of premium health products.
PEST Analysis
Political: The Middle Eastern governments are working towards improving the health of its citizens by promoting nutraceutical products and supporting related research. Nutraceutical players need to follow the regulatory guidelines of individual countries.
Economic: High disposable income and health awareness is driving the demand for nutraceutical products in the region. Fluctuation in oil prices could impact the economic conditions and purchasing power.
Social: People are adopting a preventive healthcare approach and proactively taking nutraceutical supplements to manage lifestyle diseases. Social media marketing helps increase awareness and trials among the younger population.
Technological: Laboratories in the region are focusing on developing indigenous plant-based nutraceutical formulations and standardized herbal extracts. Blockchain can be leveraged to ensure supply chain transparency and authenticity of products.
The Mena nutraceuticals market in terms of value is currently concentrated in GCC countries such as Saudi Arabia, United Arab Emirates and Qatar owing to high spending ability and awareness. The demand is primarily driven by multi-vitamins, omega fatty acids, probiotics and herbal/traditional plant extracts which are widely used for general wellness and lifestyle disease management.
Turkey is emerging as the fastest growing market for Mena nutraceuticals as research and manufacturing capabilities are improving. Local companies are launching innovative products targeting specific health issues like joint pain, digestion, immunity etc which are resonating well with customers. E-commerce is boosting product reach while influencing factors like changing consumer needs and rising chronic diseases will further support market growth in Turkey over the coming years.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)