| Product Code: ETC5329973 | Publication Date: Nov 2023 | Updated Date: Nov 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 60 | No. of Figures: 30 | No. of Tables: 5 |
Armenia import trend for the vitamin B12 market witnessed a decline in growth rate from 2023 to 2024, with a -6.15% decrease. However, the compound annual growth rate (CAGR) for the period 2020-2024 stood at a positive 10.44%. This shift could be attributed to changing consumer preferences or adjustments in trade policies impacting the market stability.
The vitamin B12 market in Armenia is experiencing growth driven by the rising awareness of health and nutrition. Vitamin B12 supplements are essential for addressing deficiencies and supporting overall health, particularly for individuals with dietary restrictions. The market is supported by increasing healthcare initiatives, the growing popularity of dietary supplements, and the emphasis on preventive healthcare.
The growing awareness of the health benefits associated with vitamin B12 supplementation drives the market in Armenia. Increasing cases of vitamin B12 deficiency due to dietary habits and lifestyle changes also contribute to the demand for supplements. Additionally, the rising geriatric population, which is more prone to vitamin B12 deficiency, fuels the market growth.
Challenges include fluctuations in raw material prices, stringent regulatory requirements for supplements, and competition from both local and international brands. Additionally, there is the need to educate consumers about the benefits of Vitamin B12 supplementation.
The government of Armenia supports the vitamin B12 market through regulations that ensure the quality and safety of supplements. Policies include subsidies for local production, import tax reductions for raw materials, and public health campaigns to raise awareness about the importance of vitamin B12. These efforts aim to improve public health outcomes and support local businesses in the nutritional supplements industry.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Armenia Vitamin B12 Market Overview |
3.1 Armenia Country Macro Economic Indicators |
3.2 Armenia Vitamin B12 Market Revenues & Volume, 2021 & 2031F |
3.3 Armenia Vitamin B12 Market - Industry Life Cycle |
3.4 Armenia Vitamin B12 Market - Porter's Five Forces |
3.5 Armenia Vitamin B12 Market Revenues & Volume Share, By Dosage Form, 2021 & 2031F |
3.6 Armenia Vitamin B12 Market Revenues & Volume Share, By Route of Administration, 2021 & 2031F |
3.7 Armenia Vitamin B12 Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Armenia Vitamin B12 Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing awareness about the importance of vitamin B12 in maintaining overall health |
4.2.2 Growing focus on preventative healthcare and wellness trends |
4.2.3 Rising prevalence of vitamin B12 deficiency in the population |
4.3 Market Restraints |
4.3.1 Limited availability of fortified foods and supplements containing vitamin B12 |
4.3.2 Lack of access to healthcare services for diagnosis and treatment of vitamin B12 deficiency |
4.3.3 High cost associated with vitamin B12 supplements and injections |
5 Armenia Vitamin B12 Market Trends |
6 Armenia Vitamin B12 Market Segmentations |
6.1 Armenia Vitamin B12 Market, By Dosage Form |
6.1.1 Overview and Analysis |
6.1.2 Armenia Vitamin B12 Market Revenues & Volume, By Syrups, 2021-2031F |
6.1.3 Armenia Vitamin B12 Market Revenues & Volume, By Injection, 2021-2031F |
6.1.4 Armenia Vitamin B12 Market Revenues & Volume, By Tablets, 2021-2031F |
6.1.5 Armenia Vitamin B12 Market Revenues & Volume, By Powder, 2021-2031F |
6.1.6 Armenia Vitamin B12 Market Revenues & Volume, By Nasal Spray, 2021-2031F |
6.2 Armenia Vitamin B12 Market, By Route of Administration |
6.2.1 Overview and Analysis |
6.2.2 Armenia Vitamin B12 Market Revenues & Volume, By Oral, 2021-2031F |
6.2.3 Armenia Vitamin B12 Market Revenues & Volume, By Intravenous, 2021-2031F |
6.2.4 Armenia Vitamin B12 Market Revenues & Volume, By Subcutaneous, 2021-2031F |
6.2.5 Armenia Vitamin B12 Market Revenues & Volume, By Nasal, 2021-2031F |
6.3 Armenia Vitamin B12 Market, By Distribution Channel |
6.3.1 Overview and Analysis |
6.3.2 Armenia Vitamin B12 Market Revenues & Volume, By Hospital Pharmacy, 2021-2031F |
6.3.3 Armenia Vitamin B12 Market Revenues & Volume, By Retail Pharmacy, 2021-2031F |
6.3.4 Armenia Vitamin B12 Market Revenues & Volume, By Online Pharmacy, 2021-2031F |
7 Armenia Vitamin B12 Market Import-Export Trade Statistics |
7.1 Armenia Vitamin B12 Market Export to Major Countries |
7.2 Armenia Vitamin B12 Market Imports from Major Countries |
8 Armenia Vitamin B12 Market Key Performance Indicators |
8.1 Number of health awareness campaigns or initiatives promoting the benefits of vitamin B12 |
8.2 Percentage of healthcare professionals recommending vitamin B12 supplements to patients |
8.3 Rate of vitamin B12 deficiency cases diagnosed and treated effectively |
9 Armenia Vitamin B12 Market - Opportunity Assessment |
9.1 Armenia Vitamin B12 Market Opportunity Assessment, By Dosage Form, 2021 & 2031F |
9.2 Armenia Vitamin B12 Market Opportunity Assessment, By Route of Administration, 2021 & 2031F |
9.3 Armenia Vitamin B12 Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Armenia Vitamin B12 Market - Competitive Landscape |
10.1 Armenia Vitamin B12 Market Revenue Share, By Companies, 2024 |
10.2 Armenia Vitamin B12 Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations | 13 Disclaimer |