Key regions: United Kingdom, India, Canada, Germany, China
The Vitamins & Minerals (Pharmacies) market in Japan has been experiencing significant growth in recent years.
Customer preferences: Japanese consumers have shown a growing interest in maintaining their health and well-being, leading to an increased demand for vitamins and minerals. This can be attributed to several factors, including an aging population, rising healthcare costs, and a greater emphasis on preventive healthcare. As a result, consumers are turning to pharmacies as a convenient and trusted source for their nutritional needs.
Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Japan is the growing popularity of personalized nutrition. Consumers are increasingly seeking products that are tailored to their specific health needs and preferences. This has led to a rise in the availability of customized vitamin and mineral supplements in pharmacies, allowing consumers to address their unique nutritional requirements. Additionally, there has been a shift towards natural and organic products, with consumers showing a preference for supplements that are free from artificial additives and preservatives.
Local special circumstances: Japan has a strong culture of health and wellness, with a focus on longevity and disease prevention. This cultural mindset has contributed to the growth of the Vitamins & Minerals (Pharmacies) market, as consumers prioritize their health and actively seek out products that can support their well-being. Additionally, the presence of a well-established pharmacy network in Japan has made it easier for consumers to access vitamins and minerals, further driving market growth.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the development of the Vitamins & Minerals (Pharmacies) market in Japan. The country's aging population has created a significant market for health and wellness products, as older consumers seek to maintain their health and vitality. Additionally, rising healthcare costs have prompted consumers to take a proactive approach to their health, leading to increased demand for vitamins and minerals. Furthermore, the Japanese government has implemented policies to promote preventive healthcare, which has further fueled market growth. In conclusion, the Vitamins & Minerals (Pharmacies) market in Japan is experiencing growth due to customer preferences for personalized nutrition, the popularity of natural and organic products, and the country's cultural focus on health and wellness. The presence of a well-established pharmacy network and underlying macroeconomic factors such as an aging population and rising healthcare costs have also contributed to market development.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
