Market Insights Health Pharmacies OTC Products

Vitamins & Minerals (Pharmacies) - Croatia

Croatia

Revenue in the Vitamins & Minerals market is projected to reach US$20.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 4.22%, resulting in a market volume of US$23.83m by 2028.
In global comparison, most revenue will be generated in China (US$4,414.00m in 2024).
In relation to total population figures, per person revenues of US$5.07 are generated in 2024.

Key regions: Europe, China, France, Germany, South Korea

Market

Region

Region comparison

Currency

Analyst Opinion

The Vitamins & Minerals (Pharmacies) market in Croatia has been experiencing significant growth in recent years.

Customer preferences: Croatian consumers are increasingly becoming health-conscious and are actively seeking ways to improve their overall well-being. This has led to a growing demand for vitamins and minerals, as people are becoming more aware of the benefits these supplements can provide. Additionally, there is a rising trend of self-care and preventive healthcare, with individuals taking a proactive approach to maintaining their health. As a result, consumers are turning to pharmacies as a trusted source for their vitamin and mineral needs, as they offer a wide range of products and professional advice.

Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Croatia is the increasing popularity of natural and organic supplements. Consumers are becoming more conscious of the ingredients in the products they consume and are seeking natural alternatives to synthetic vitamins and minerals. This trend is driven by a desire for cleaner and more sustainable options, as well as a perception that natural supplements are more effective. As a result, pharmacies are expanding their offerings to include a wider range of natural and organic products to meet this growing demand. Another trend in the market is the rise of personalized nutrition. Consumers are increasingly looking for supplements that are tailored to their specific needs and health goals. This has led to the development of personalized vitamin and mineral packs, where customers can choose the specific nutrients they want to include in their daily regimen. Pharmacies are capitalizing on this trend by offering customized supplement solutions, either through in-store consultations or online platforms.

Local special circumstances: Croatia has a well-developed pharmacy network, with pharmacies being easily accessible to the majority of the population. This makes it convenient for consumers to purchase their vitamins and minerals from these establishments. Additionally, pharmacies in Croatia are highly regulated and must adhere to strict quality standards, providing consumers with confidence in the products they purchase.

Underlying macroeconomic factors: The growing Vitamins & Minerals (Pharmacies) market in Croatia can also be attributed to favorable macroeconomic factors. The country has experienced steady economic growth in recent years, resulting in increased disposable income for many consumers. This has allowed individuals to allocate more of their budget towards health and wellness products, including vitamins and minerals. Furthermore, the aging population in Croatia is driving demand for supplements that support healthy aging and address age-related health concerns. In conclusion, the Vitamins & Minerals (Pharmacies) market in Croatia is thriving due to the increasing health-consciousness of consumers, the popularity of natural and organic supplements, the rise of personalized nutrition, the accessibility of pharmacies, and favorable macroeconomic factors. As the market continues to evolve, it is expected that pharmacies will play a crucial role in meeting the growing demand for vitamins and minerals in Croatia.

Methodology

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.