Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Southern Asia

Southern Asia

In Southern Asia, the revenue generated in the Vitamins & Minerals market market in 2024 amounts to US$3.43bn.
It is projected to experience an annual growth rate of 9.01% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue in this market, reaching US$5,328.00m in 2024.
In terms of per capita figures, each person in Southern Asia generates revenues of US$1.79 in 2024.
In Southern Asia, the demand for vitamins and minerals in the OTC pharmaceuticals market is driven by the growing health consciousness and increasing disposable income levels among consumers.

Key regions: Japan, United Kingdom, Australia, Germany, Europe

Market

Region

Region comparison

Currency

Analyst Opinion

The Vitamins & Minerals market in Southern Asia is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory.Customer preferences in Southern Asia are shifting towards a healthier lifestyle, with an increased focus on preventive healthcare. This has led to a growing demand for vitamins and minerals as consumers seek to supplement their diets with essential nutrients. Additionally, as the region becomes more urbanized and affluent, consumers have more disposable income to spend on health and wellness products.Trends in the market indicate a strong growth potential for the Vitamins & Minerals industry in Southern Asia. With increasing awareness about the importance of nutrition and a growing middle class, there is a rising demand for dietary supplements. This trend is further fueled by the influence of social media and digital platforms, which provide consumers with easy access to information about the benefits of vitamins and minerals.Local special circumstances also play a role in the development of the Vitamins & Minerals market in Southern Asia. Traditional medicine, such as Ayurveda in India and Traditional Chinese Medicine in countries like China and Malaysia, has a long history in the region. As a result, there is a cultural acceptance and preference for natural remedies and herbal supplements, which often contain vitamins and minerals. This has created a niche market for herbal and natural supplements in Southern Asia.Underlying macroeconomic factors also contribute to the growth of the Vitamins & Minerals market in Southern Asia. Economic growth and rising disposable incomes have led to an increase in consumer spending on healthcare and wellness products. Furthermore, governments in the region are increasingly investing in healthcare infrastructure and promoting preventive healthcare, which includes the use of vitamins and minerals. These factors create a favorable environment for the growth of the Vitamins & Minerals market in Southern Asia.In conclusion, the Vitamins & Minerals market in Southern Asia is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As consumers in the region increasingly prioritize health and wellness, the demand for vitamins and minerals is expected to continue to rise.

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.