Key regions: United Kingdom, India, Canada, Germany, China
The Vitamins & Minerals (Pharmacies) market in EU-27 is experiencing steady growth due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Customers in the EU-27 region are increasingly prioritizing their health and wellness, leading to a growing demand for vitamins and minerals. With a rising awareness of the importance of preventive healthcare, consumers are seeking products that can support their immune system, boost energy levels, and improve overall well-being. As a result, there is a growing preference for natural and organic supplements that are perceived to be safer and more effective.
Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in the EU-27 is the increasing popularity of personalized nutrition. Customers are seeking customized vitamin and mineral supplements that are tailored to their specific needs and health goals. This trend is driven by advancements in technology, such as genetic testing and wearable devices, which enable individuals to gain insights into their unique nutritional requirements. Pharmacies are responding to this trend by offering personalized consultations and recommending customized supplements. Another trend in the market is the growing demand for plant-based vitamins and minerals. As the awareness of environmental sustainability and ethical considerations increases, customers are shifting towards plant-based alternatives. This trend is particularly prominent in countries with a strong vegetarian and vegan population. Pharmacies are expanding their product offerings to include a wide range of plant-based supplements to cater to this growing demand.
Local special circumstances: In certain EU-27 countries, there are specific regulations and policies that impact the Vitamins & Minerals (Pharmacies) market. For example, some countries have restrictions on the sale of certain vitamins and minerals over the counter, requiring customers to obtain a prescription from a healthcare professional. This can affect the accessibility and availability of certain products in these markets. Additionally, the competitive landscape of the Vitamins & Minerals (Pharmacies) market varies across the EU-27 region. In some countries, there is a strong presence of local and regional pharmacy chains, which have established brand loyalty and customer trust. In contrast, other countries have a more fragmented market with a mix of local and international players. Understanding these local dynamics is crucial for companies operating in the market.
Underlying macroeconomic factors: The Vitamins & Minerals (Pharmacies) market in the EU-27 is influenced by various macroeconomic factors. Economic growth, disposable income levels, and consumer confidence play a significant role in driving the demand for vitamins and minerals. As the economy improves, consumers have more purchasing power and are willing to spend on products that support their health and well-being. Furthermore, the aging population in the EU-27 region is a key driver for the Vitamins & Minerals (Pharmacies) market. As the population ages, there is a higher demand for supplements that can support healthy aging, improve cognitive function, and manage chronic conditions. Pharmacies are capitalizing on this trend by offering a range of products targeted towards the elderly population. In conclusion, the Vitamins & Minerals (Pharmacies) market in the EU-27 is experiencing growth due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for personalized nutrition, plant-based supplements, and products targeted towards the aging population are driving the market forward. Pharmacies that understand and adapt to these trends and circumstances are well-positioned to capitalize on the growing demand for vitamins and minerals in the EU-27 region.
Data coverage:
The data encompasses B2C enterprises. Figures are based on offline and online spending by consumers, including VAT. Not included are B2B and B2G sales, or other pharmaceutical sales through hospitals or retail stores such as supermarkets.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market market. As a basis for evaluating markets, we use industry associations, third-party studies and reports and survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per country, consumer healthcare spending, GDP and internet penetration. 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 relevant market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. For forecasting digital trends such as the online-pharmacy sales share we use exponential trend smoothing and the s-curve method. The main drivers are healthcare expenditure per country and consumer healthcare spending.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. GCS data is reweighted for representativeness.
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