Key regions: Europe, China, France, Germany, South Korea
The Vitamins & Minerals (Pharmacies) market in Southern Europe is experiencing steady growth, driven by increasing customer preferences for health and wellness products.
Customer preferences: Customers in Southern Europe are becoming more health-conscious and are actively seeking products that can support their overall well-being. Vitamins and minerals are seen as essential for maintaining good health and preventing nutrient deficiencies. As a result, there is a growing demand for these products in the region. Additionally, customers are increasingly looking for natural and organic options, as they perceive them to be safer and more beneficial for their health. This preference for natural products is also driving the growth of the market.
Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Southern Europe is the rising popularity of personalized nutrition. Customers are seeking products that are tailored to their specific needs and health goals. This has led to the development of customized vitamin and mineral supplements, which are formulated based on individual requirements. These personalized products are gaining traction among customers, as they offer a more targeted approach to nutrition. Another trend in the market is the increasing availability of online channels for purchasing vitamins and minerals. Customers are increasingly turning to e-commerce platforms to buy their health and wellness products, including vitamins and minerals. Online shopping offers convenience and a wider range of products to choose from, which has contributed to its growing popularity. Pharmacies in Southern Europe are also embracing this trend by expanding their online presence and offering home delivery services.
Local special circumstances: Southern Europe is known for its Mediterranean diet, which is rich in fruits, vegetables, and whole grains. This dietary pattern is associated with various health benefits and is considered to be a key factor in the region's relatively low rates of chronic diseases. However, it may also result in lower demand for vitamin and mineral supplements, as the population is already obtaining many essential nutrients from their diet. As a result, the market for these products may be more niche compared to other regions.
Underlying macroeconomic factors: The Vitamins & Minerals (Pharmacies) market in Southern Europe is influenced by various macroeconomic factors. The region has been facing economic challenges in recent years, which has impacted consumer spending. However, health and wellness products, including vitamins and minerals, are often seen as essential and are less likely to be affected by economic downturns. Additionally, the aging population in Southern Europe is driving the demand for products that support healthy aging and address age-related health concerns. This demographic trend is expected to contribute to the growth of the market in the coming years. Overall, the Vitamins & Minerals (Pharmacies) market in Southern Europe is poised for continued growth, driven by customer preferences for health and wellness products, the rise of personalized nutrition, the increasing availability of online channels, and underlying macroeconomic factors.
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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