Vitamins & Minerals - Switzerland

Switzerland

Highlights

In Switzerland, the revenue generated in the Vitamins & Minerals market market in 2024 amounts to US$122.80m.
This market is projected to experience an annual growth rate of 4.78% (CAGR 2024-2029).
When compared globally, China generates the highest revenue in this market, reaching US$5.33bn in 2024.
In terms of per capita figures, each person in Switzerland contributes US$13.88 in revenue in 2024.
Switzerland's high standards for quality and safety in the Vitamins & Minerals market drive consumer trust and demand.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Vitamins & Minerals market in Switzerland has been experiencing steady growth in recent years. Customer preferences have shifted towards more natural and organic products, leading to an increased demand for vitamins and minerals derived from natural sources. Additionally, the growing awareness of health and wellness among consumers has fueled the demand for supplements to support overall well-being.

Customer preferences: Swiss consumers have become increasingly conscious of the ingredients in the products they consume. They are seeking out vitamins and minerals that are derived from natural sources, such as fruits, vegetables, and herbs. This preference for natural products is driven by a desire for healthier and more sustainable options. Consumers are also looking for supplements that are free from artificial additives and preservatives.

Trends in the market: One of the key trends in the Vitamins & Minerals market in Switzerland is the rising popularity of personalized nutrition. Consumers are seeking customized supplements that cater to their specific health needs. This trend is driven by advancements in technology, which allow for personalized health assessments and recommendations. Companies are offering personalized vitamin and mineral blends based on individual health profiles, providing consumers with targeted solutions.Another trend in the market is the increasing demand for immune-boosting supplements. The COVID-19 pandemic has heightened awareness of the importance of a strong immune system, leading to a surge in demand for vitamins and minerals that support immune health. Swiss consumers are seeking out products that contain immune-boosting ingredients such as vitamin C, vitamin D, and zinc.

Local special circumstances: Switzerland has a strong reputation for quality and precision in manufacturing, and this extends to the Vitamins & Minerals market. Swiss consumers place a high value on products that are made in Switzerland, as they perceive them to be of superior quality. This has led to the growth of domestic supplement brands that highlight their Swiss origins.Another special circumstance in the Swiss market is the strict regulations surrounding the sale and marketing of vitamins and minerals. The Swiss Federal Food Safety and Veterinary Office (FSVO) has established guidelines to ensure the safety and efficacy of supplements. This has created a level playing field for manufacturers and instilled consumer confidence in the products available in the market.

Underlying macroeconomic factors: The Swiss economy has remained stable in recent years, with a high standard of living and disposable income. This has allowed consumers to prioritize their health and invest in supplements to support their well-being. The strong economy has also attracted international players to the Swiss market, leading to increased competition and product innovation.Furthermore, the aging population in Switzerland has contributed to the growth of the Vitamins & Minerals market. As individuals age, they are more likely to experience nutrient deficiencies and seek out supplements to maintain their health. The aging population has created a significant customer base for vitamins and minerals, driving market growth.In conclusion, the Vitamins & Minerals market in Switzerland is experiencing growth due to customer preferences for natural and organic products, a focus on personalized nutrition, and an increased demand for immune-boosting supplements. The Swiss market benefits from a reputation for quality and precision, strict regulations, a strong economy, and an aging population. These factors contribute to the steady development of the market in Switzerland.

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.