Vitamins & Minerals (Pharmacies) - Switzerland

Revenue in the Vitamins & Minerals market is projected to reach US$111.50m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.27%, resulting in a market volume of US$144.10m by 2029.
In global comparison, most revenue will be generated China (US$4.41bn in 2024).
In relation to total population figures, per person revenues of US$12.59 are generated in 2024.

Definition:
The Vitamins and Minerals market encompasses a range of over-the-counter (OTC) natural and synthetic food supplements available through pharmacies. This includes products like multivitamin preparations, minerals, vitamins, tonics, and cod liver oil, presented in various forms such as capsules, dragees, pills, granulate, ampoules, solutions, powders, and syrups for oral consumption. Excluded from this market are prescription medications, items not explicitly categorized as food supplement drugs (e.g., muscle-building preparations), or those primarily intended for cosmetic use. Prominent examples of top-selling vitamin and mineral products include Vitasprint, Orthomol, magnesium granulate, Curazink, and Centrum. This market exclusively covers product sales through pharmacies.

Additional information:
The Vitamins and Minerals market comprises revenues, average revenue per capita and average revenue per pharmacy. Revenues include VAT. The market only displays B2C revenues, hence B2B and B2G revenues are not included.
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Vitamin preparations
Mineral preparations (zinc, calcium, magnesium)
Cod liver oil

Prescription medicines
Homeopathic remedies
Probiotics and food products

The Vitamins & Minerals (Pharmacies) market in Switzerland is experiencing steady growth due to several factors. Customer preferences for natural and organic products, increasing health consciousness, and a growing aging population are driving the demand for vitamins and minerals in the country. Customer preferences in Switzerland have shifted towards natural and organic products in recent years. Consumers are becoming more aware of the potential health benefits of natural ingredients and are willing to pay a premium for products that are free from artificial additives and preservatives. This trend is particularly evident in the vitamins and minerals market, where customers are seeking out products that are sourced from natural ingredients and are free from synthetic chemicals. As a result, there has been an increase in the availability of organic vitamins and minerals in pharmacies across the country. Another factor contributing to the growth of the vitamins and minerals market in Switzerland is the increasing health consciousness among consumers. People are becoming more aware of the importance of maintaining a healthy lifestyle and are actively seeking ways to improve their overall well-being. Vitamins and minerals play a crucial role in supporting various bodily functions and are seen as essential for maintaining good health. This awareness has led to an increased demand for these products, as consumers look for convenient and accessible ways to meet their nutritional needs. The aging population in Switzerland is also driving the growth of the vitamins and minerals market. As the population ages, there is a greater emphasis on maintaining good health and preventing age-related diseases. Vitamins and minerals are seen as a way to support overall health and well-being, and as a result, there is a growing demand for these products among older adults. Pharmacies are catering to this demographic by offering a wide range of vitamins and minerals specifically targeted towards the needs of older adults. In addition to customer preferences, there are also local special circumstances that are influencing the development of the vitamins and minerals market in Switzerland. The country has a well-established healthcare system, with a strong emphasis on preventive care. This focus on preventive healthcare has led to an increased awareness of the importance of nutrition and the role that vitamins and minerals play in maintaining good health. As a result, there is a high demand for these products in pharmacies, which are seen as trusted sources of healthcare information and advice. Underlying macroeconomic factors, such as the stable economy and high disposable income levels in Switzerland, also contribute to the growth of the vitamins and minerals market. The country has a high standard of living and consumers are willing to spend more on products that promote their health and well-being. Pharmacies in Switzerland are well-positioned to cater to this demand, offering a wide range of vitamins and minerals to meet the diverse needs of consumers. Overall, the Vitamins & Minerals (Pharmacies) market in Switzerland is experiencing growth due to customer preferences for natural and organic products, increasing health consciousness, a growing aging population, local special circumstances, and underlying macroeconomic factors. As these trends continue to shape the market, pharmacies in Switzerland can expect to see sustained demand for vitamins and minerals in the coming years.

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.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

The global online pharmacy sector was estimated at 32 billion U.S. dollars by the end of 2023. In the United States, forecasts indicate that this figure would reach approximately 5.7 billion, solidifying its position as one of the largest online pharmacy markets. However, China dominates the pharma e-commerce industry worldwide, generating nearly 8.5 billion dollars in revenue. With China at the forefront, it is no wonder digital pharmacies make up the fastest-growing segment in the Asian digital health market.