Market Trends of South Africa Nutraceuticals Industry
This section covers the major market trends shaping the South Africa Nutraceuticals Market according to our research experts:
Rising Healthcare Costs and Focus on Preventive Health Management
South Africa is a large, diverse, and complex nation that presents health policymakers with contradictions and challenges. The country allocates a fairly respectable 8.7% of its GDP towards healthcare and, in absolute terms, spends more on healthcare than any other African country. South Africa's health burden is commonly broken down into three components: an alarmingly high rate of infectious disease, a slew of health challenges affecting women and girls, young children, and babies, and a growing problem of non-communicable diseases. The country has a two-tier healthcare system with a large subsidized public sector and a small but high-quality private sector. With significant funding and the best specialists going to the private sector, there has been a major gap between the public and private healthcare facilities across the country.
Supermarkets/Hypermarkets Hold the Largest share
Supermarkets and Hypermarkets are some of the most visited and desired locations for nutraceutical manufacturers to showcase their product portfolios. Over the last decade, Supermarkets and Hypermarkets have been experiencing an immense expansion across the country and, therefore, are some of the most dominant channels for the sales of nutraceuticals. The availability of various brands has been a key factor in catering to various consumer preferences. This, in turn, increased the sales of nutraceuticals, thereby boosting the growth of the market in the country over the study period. The sales of nutraceuticals through supermarkets/hypermarkets were hampered in the initial months of the pandemic but were soon back on track and are expected to grow further in the coming years.
