Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - EU-27

EU-27

In EU-27, the revenue in the Vitamins & Minerals market market in 2024 amounts to US$3.09bn.
It is projected to experience an annual growth rate of 6.13% (CAGR 2024-2029).
When compared to other countries worldwide, in China generates the highest revenue at US$5,328.00m in 2024.
In terms of per capita figures, the revenue generated per person in EU-27 is US$6.91 in 2024.
Germany leads the EU-27 in the Vitamins & Minerals market, with a strong emphasis on natural and organic products.

Key regions: Canada, United Kingdom, India, Europe, Brazil

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Analyst Opinion

The Vitamins & Minerals market in EU-27 has been experiencing steady growth over the past few years, driven by increasing consumer awareness about the importance of a healthy lifestyle and the role of vitamins and minerals in maintaining overall well-being.

Customer preferences: Consumers in EU-27 are increasingly seeking out products that promote health and wellness, and this has led to a growing demand for vitamins and minerals. The market is driven by a combination of factors, including an aging population that is more focused on preventative healthcare, as well as younger consumers who are increasingly health-conscious. Additionally, the rise of social media and influencer marketing has played a significant role in raising awareness about the benefits of vitamins and minerals, further fueling consumer demand.

Trends in the market: One of the key trends in the Vitamins & Minerals market in EU-27 is the growing popularity of natural and organic products. Consumers are becoming more conscious about the ingredients in the products they consume and are actively seeking out natural alternatives. This has led to an increase in demand for vitamins and minerals derived from natural sources, such as fruits, vegetables, and herbs.Another trend in the market is the rise of personalized nutrition. Consumers are increasingly looking for products that are tailored to their specific needs and preferences. This has led to the development of customized vitamin and mineral supplements that are designed to address individual nutritional deficiencies.

Local special circumstances: Each country in EU-27 has its own unique set of circumstances that influence the Vitamins & Minerals market. For example, countries with a higher proportion of elderly population may have a higher demand for vitamins and minerals targeted towards age-related health issues. On the other hand, countries with a younger population may see a greater demand for vitamins and minerals targeted towards prenatal and postnatal health.

Underlying macroeconomic factors: The Vitamins & Minerals market in EU-27 is also influenced by macroeconomic factors such as GDP growth, disposable income levels, and consumer confidence. When the economy is performing well and consumers have more disposable income, they are more likely to spend on health and wellness products, including vitamins and minerals. On the other hand, during periods of economic uncertainty, consumers may cut back on non-essential purchases, which could impact the demand for vitamins and minerals.In conclusion, the Vitamins & Minerals market in EU-27 is experiencing steady growth due to increasing consumer awareness about the importance of health and wellness. The market is driven by customer preferences for natural and organic products, as well as the trend towards personalized nutrition. Each country in EU-27 has its own unique set of circumstances that influence the market, and macroeconomic factors also play a role in shaping consumer demand. Overall, the market is expected to continue growing as consumers prioritize their health and well-being.

Methodology

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.