Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Southern Europe

Southern Europe

In Southern Europe, the revenue generated in the Vitamins & Minerals market market reached a substantial amount of US$0.92bn in 2024.
It is projected to experience a steady annual growth rate of 5.63% (CAGR 2024-2029).
When compared to other countries worldwide, in China leads the market with a staggering revenue of US$5,328.00m in 2024.
In terms of per capita figures, each individual in Southern Europe generates revenues of US$3.87 in 2024.
In Southern Europe, Spain is experiencing a growing demand for natural and organic vitamins and minerals in the OTC Pharmaceuticals market.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Vitamins & Minerals market in Southern Europe is experiencing significant growth and development. Customer preferences in the region are driving this trend, with a strong demand for health and wellness products. Additionally, local special circumstances and underlying macroeconomic factors are contributing to the market's expansion.Customer preferences in Southern Europe are shifting towards a healthier lifestyle, leading to an increased demand for vitamins and minerals. Consumers are becoming more conscious of their health and are actively seeking products that can support their well-being. This growing awareness has resulted in a surge in the consumption of dietary supplements and fortified food and beverages that are rich in vitamins and minerals.Trends in the market indicate a rising interest in natural and organic products. Consumers are seeking products that are free from artificial additives and preservatives, and are instead opting for natural sources of vitamins and minerals. This trend is driven by a desire for clean and sustainable products, as well as a preference for ingredients that are locally sourced.Local special circumstances in Southern Europe also contribute to the development of the Vitamins & Minerals market. The Mediterranean diet, which is rich in fruits, vegetables, and whole grains, is widely recognized for its health benefits. As a result, there is a strong cultural inclination towards consuming products that are naturally rich in vitamins and minerals. This cultural preference creates a favorable environment for the growth of the market.Underlying macroeconomic factors further support the expansion of the Vitamins & Minerals market in Southern Europe. The region has experienced economic growth in recent years, leading to an increase in disposable income. As a result, consumers have more purchasing power and are willing to spend on products that promote their health and well-being. This economic stability and growing affluence contribute to the market's growth.In conclusion, the Vitamins & Minerals market in Southern Europe is developing rapidly due to customer preferences, local special circumstances, and underlying macroeconomic factors. The region's shift towards a healthier lifestyle, preference for natural and organic products, cultural inclination towards a Mediterranean diet, and economic growth all contribute to the market's expansion. As the demand for health and wellness products continues to rise, the Vitamins & Minerals market in Southern Europe is expected to experience further growth in the coming years.

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.