Vitamins & Minerals - Estonia | Statista Market Forecast

In 2024, the revenue in the Vitamins & Minerals market market in Estonia amounts to US$16.93m.
It is projected to experience an annual growth rate of 10.66% from 2024 to 2029 (CAGR 2024-2029).
When compared to other countries, China leads the market with a revenue of US$5.33bn in 2024.
In terms of per person revenues, in Estonia generates US$12.83 per person in 2024.
The demand for vitamins and minerals in the OTC Pharmaceuticals market in Estonia has been steadily increasing due to the growing health-consciousness among the population.

Definition:
The Vitamins and Minerals market comprises over-the-counter natural and synthetic food supplements like multivitamin preparations, minerals, vitamins, tonics and cod liver oil. Vitamins and minerals include preparations in the form of capsules, dragees, pills, granulate, ampoules, solutions, powders, syrups for oral use. Not included are prescription medicines, preparations that are not explicit food supplement drugs (e.g. muscle-building preparations) or primarily serve cosmetic purposes. Among the top-selling vitamin and mineral products are Vitasprint, Orthomol, magnesium granulate, Curazink, Centrum. It includes both products which are exclusively sold in pharmacies and products which can be purchased elsewhere. Sales by hospitals are not included.

Additional information:
The market comprises revenues, average revenue per capita. Sales channels show online and offline revenue. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Vitamin preparations
Mineral preparations (zinc, calcium, magnesium)
Cod liver oil

Prescription medicines
Homeopathic remedies
Probiotics and food products

The Vitamins & Minerals market in Estonia is experiencing steady growth driven by changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.Customer preferences in the Vitamins & Minerals market in Estonia are shifting towards a more health-conscious lifestyle. Consumers are becoming more aware of the importance of maintaining a balanced diet and incorporating essential vitamins and minerals into their daily routine. This growing awareness is driving the demand for a wide range of vitamin and mineral supplements in Estonia.Trends in the market are also contributing to the development of the Vitamins & Minerals market in Estonia. One notable trend is the rising popularity of natural and organic products. Consumers are increasingly seeking out supplements that are made from natural ingredients and free from artificial additives. This trend aligns with the overall global shift towards clean and sustainable products, and it is driving the growth of natural and organic vitamins and minerals in Estonia.Another trend in the market is the increasing focus on personalized nutrition. Consumers are looking for supplements that are tailored to their specific health needs and goals. This has led to the rise of personalized vitamin and mineral formulations, where individuals can customize their supplements based on their unique requirements. This trend is driven by advancements in technology and the availability of personalized nutrition services, and it is expected to continue driving growth in the Vitamins & Minerals market in Estonia.Local special circumstances also play a role in the development of the Vitamins & Minerals market in Estonia. The country has a well-developed healthcare system and a high level of health awareness among its population. This creates a favorable environment for the growth of the Vitamins & Minerals market, as consumers are actively seeking ways to improve their health and well-being.Underlying macroeconomic factors, such as rising disposable incomes and an aging population, are also contributing to the growth of the Vitamins & Minerals market in Estonia. As the economy continues to grow and individuals have more purchasing power, they are willing to invest in their health and well-being. Additionally, the aging population in Estonia is driving the demand for supplements that support healthy aging and address age-related health concerns.In conclusion, the Vitamins & Minerals market in Estonia is developing due to changing customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. The shift towards a health-conscious lifestyle, the popularity of natural and organic products, the focus on personalized nutrition, the well-developed healthcare system, and the growing disposable incomes and aging population are all 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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global pharmaceutical industry has experienced significant growth during the past two decades, with revenues totaling around 1.6 trillion U.S. dollars in 2023. With growth like that, the industry's size is now comparable to the gross domestic products (GDPs) of countries like Spain, Mexico, or Australia.