Vitamins & Minerals - China

China

Highlights

In China, the revenue generated in the Vitamins & Minerals market market is projected to amount to US$5.33bn in 2024.
This market is expected to experience an annual growth rate of 8.44% (CAGR 2024-2029).
When compared globally, China generates the highest revenue in this market, with US$5.33bn in 2024.
On a per person basis, the revenue generated in 2024 is US$3.72.
China's growing health-conscious population is driving a surge in demand for vitamins and minerals in the OTC pharmaceuticals market.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vitamins & Minerals market in China has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Vitamins & Minerals market in China have shifted towards a more health-conscious lifestyle, with consumers increasingly seeking products that promote overall well-being. This trend is driven by a growing awareness of the importance of nutrition and the role that vitamins and minerals play in maintaining good health. As a result, there has been a surge in demand for products that offer specific health benefits, such as immune support, bone health, and cognitive function.Trends in the market reflect the changing needs and preferences of Chinese consumers. One notable trend is the increasing popularity of natural and organic vitamins and minerals. Consumers are becoming more conscious of the ingredients in their products and are seeking out options that are free from artificial additives and preservatives. This trend is also influenced by the rising demand for clean label products, as consumers look for transparency and authenticity in the products they consume.Another trend in the Vitamins & Minerals market in China is the growing interest in personalized nutrition. With advancements in technology, consumers now have access to personalized health assessments and recommendations, which guide them in selecting the right vitamins and minerals for their specific needs. This trend is driven by the desire for customized solutions that address individual health concerns and optimize overall well-being.Local special circumstances in China have also contributed to the development of the Vitamins & Minerals market. The country has a large aging population, which has led to an increased focus on health and wellness. As people age, the need for vitamins and minerals to support healthy aging becomes more pronounced, driving demand in the market.Underlying macroeconomic factors have also played a role in the growth of the Vitamins & Minerals market in China. The country's rising middle class and increasing disposable income have allowed consumers to prioritize their health and invest in products that support their well-being. Additionally, the government's focus on promoting a healthy lifestyle and preventive healthcare has further fueled the demand for vitamins and minerals.In conclusion, the Vitamins & Minerals market in China is experiencing growth due to changing customer preferences, emerging trends, and local special circumstances. Consumers are seeking products that promote overall well-being, with a focus on natural and organic options. The trend towards personalized nutrition is also driving the market, as consumers look for customized solutions to address their specific health needs. The country's large aging population and rising disposable income are further contributing to the growth of the market.

Data coverage:

Data encompasses B2C spend. Figures are based on the OTC Pharmaceuticals market values, representing revenues generated by both product sales which take place exclusively in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Modeling approach / Market size:

Market sizes are determined by a combined top-down and bottom-up approach, based on a specific rationale for each market market. As a basis for evaluating markets, we use data from national statistical offices, international institutions, trade associations, and self-medication associations. Next, we use relevant key market indicators and data from country-specific associations, such as consumer healthcare spending, out-of-pocket healthcare expenditure, health system accessibilities, and GDP. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. Whereas this market covers only OTC drugs, the Statista Pharmaceuticals market covers both OTC and prescription drugs.