Key regions: Europe, China, France, Germany, South Korea
The Vitamins & Minerals (Pharmacies) market in Eastern Asia is experiencing steady growth due to a combination of customer preferences, market trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Eastern Asia are driving the demand for vitamins and minerals in pharmacies. With an increasing focus on health and wellness, consumers in this region are becoming more conscious about their overall well-being. They are seeking out products that can help boost their immune system, improve their energy levels, and enhance their overall health. As a result, the demand for vitamins and minerals has been on the rise. Trends in the market also contribute to the growth of the Vitamins & Minerals (Pharmacies) market in Eastern Asia. One of the key trends is the growing popularity of natural and organic products. Consumers in this region are increasingly opting for products that are free from artificial additives and preservatives. They are looking for vitamins and minerals that are derived from natural sources, such as fruits, vegetables, and herbs. This trend is driving the demand for organic and natural supplements in pharmacies. Another trend in the market is the increasing availability of personalized vitamins and minerals. Consumers in Eastern Asia are looking for products that are tailored to their specific needs and preferences. They are seeking out vitamins and minerals that are formulated to address their individual health concerns, such as skin health, digestion, or joint support. This trend is driving the development of customized supplements in pharmacies, which cater to the unique needs of each customer. Local special circumstances also play a role in the development of the Vitamins & Minerals (Pharmacies) market in Eastern Asia. One such circumstance is the aging population in countries like Japan and South Korea. As the population ages, there is a growing need for vitamins and minerals to support healthy aging. This demographic factor contributes to the increasing demand for supplements in pharmacies. Underlying macroeconomic factors also contribute to the growth of the Vitamins & Minerals (Pharmacies) market in Eastern Asia. The region has been experiencing steady economic growth, which has led to an increase in disposable income. As consumers have more purchasing power, they are able to afford and prioritize their health and wellness needs, including vitamins and minerals. Additionally, the rising middle class in countries like China and South Korea is driving the demand for high-quality healthcare products, including supplements. In conclusion, the Vitamins & Minerals (Pharmacies) market in Eastern Asia is developing due to customer preferences for health and wellness products, market trends such as the demand for natural and personalized supplements, local special circumstances like the aging population, and underlying macroeconomic factors such as economic growth and the rising middle class. This market is expected to continue growing as consumers in the region prioritize their health and well-being.
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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