Key regions: Europe, China, France, Germany, South Korea
The Vitamins & Minerals (Pharmacies) market in Portugal has been experiencing steady growth in recent years, driven by changing customer preferences and local special circumstances. Customer preferences in the Vitamins & Minerals (Pharmacies) market in Portugal have shifted towards a greater focus on health and wellness. As consumers become more health-conscious, they are increasingly seeking out vitamins and minerals to supplement their diets and improve their overall well-being. This trend is supported by the growing popularity of alternative medicine and natural remedies, as consumers look for more holistic approaches to healthcare. Additionally, the aging population in Portugal has also contributed to the increased demand for vitamins and minerals, as older individuals often require additional supplements to support their health. In terms of trends in the market, there has been a noticeable shift towards online purchasing of vitamins and minerals in Portugal. The convenience and accessibility of online shopping have made it an attractive option for consumers, especially for those who may have limited access to physical pharmacies. This trend is expected to continue as e-commerce continues to grow in popularity and more consumers become comfortable with purchasing healthcare products online. Another trend in the Vitamins & Minerals (Pharmacies) market in Portugal is the increasing demand for personalized and customized products. Consumers are looking for vitamins and minerals that are tailored to their specific needs and preferences. This has led to the rise of personalized supplement companies that offer customized formulations based on individual health profiles and goals. This trend highlights the growing desire for personalized healthcare solutions and the willingness of consumers to invest in products that are specifically designed for them. Local special circumstances in Portugal have also influenced the development of the Vitamins & Minerals (Pharmacies) market. The country's healthcare system is highly regarded, and there is a strong emphasis on preventive care and self-care. This has created a favorable environment for the growth of the vitamins and minerals market, as consumers are encouraged to take an active role in maintaining their health. Additionally, Portugal's status as a popular tourist destination has also contributed to the market's growth, as tourists often purchase vitamins and minerals to supplement their travel diets and support their overall well-being. Underlying macroeconomic factors have also played a role in the development of the Vitamins & Minerals (Pharmacies) market in Portugal. The country's stable economy and increasing disposable income levels have allowed consumers to spend more on healthcare products, including vitamins and minerals. Additionally, the government's focus on promoting a healthy lifestyle and preventive care has further supported the growth of the market. Overall, the Vitamins & Minerals (Pharmacies) market in Portugal is experiencing growth due to changing customer preferences, including a greater focus on health and wellness, the increasing popularity of online shopping, and the demand for personalized products. Local special circumstances, such as Portugal's healthcare system and status as a tourist destination, have also contributed to the market's development. These trends are supported by underlying macroeconomic factors, including the country's stable economy and increasing disposable income levels.
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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