Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - Netherlands

Netherlands

In the Netherlands, the revenue generated in the Vitamins & Minerals market market is projected to reach €188.10m in 2024.
It is expected that the market will experience an annual growth rate of 4.36% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of €4,941.00m in 2024.
In terms of per capita figures, in the Netherlands generates a revenue of €10.65 per person in 2024.
The Netherlands is seeing a growing demand for natural and organic vitamins and minerals in the OTC pharmaceuticals market.

Key regions: Canada, United Kingdom, India, Europe, Brazil

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Analyst Opinion

The Vitamins & Minerals market in Netherlands has been experiencing steady growth in recent years. Customer preferences are shifting towards healthier lifestyles, leading to an increased demand for dietary supplements. Additionally, the aging population and rising awareness about the importance of maintaining good health have also contributed to the growth of the market.

Customer preferences: Customers in Netherlands are increasingly focused on maintaining good health and preventing diseases. This has led to a growing interest in dietary supplements, including vitamins and minerals. Many consumers are looking for natural and organic products that are free from artificial additives and preservatives. They are also seeking products that are easy to consume and offer convenience in their daily lives.

Trends in the market: One of the key trends in the Vitamins & Minerals market in Netherlands is the growing popularity of personalized nutrition. Consumers are increasingly looking for products that are tailored to their specific needs and preferences. This has led to the development of customized vitamin and mineral supplements that address individual health concerns and deficiencies.Another trend in the market is the increasing use of online platforms for purchasing vitamins and minerals. The convenience and wide range of products available online have made it a popular choice among consumers. Online retailers are also offering discounts and promotions, further driving the growth of the market.

Local special circumstances: The Netherlands has a well-developed healthcare system and a high level of health consciousness among its population. The government has implemented various initiatives to promote healthy lifestyles and preventive healthcare. This has created a favorable environment for the growth of the Vitamins & Minerals market.

Underlying macroeconomic factors: The strong economy in Netherlands has contributed to the growth of the Vitamins & Minerals market. Consumers have higher disposable incomes, allowing them to spend more on healthcare and wellness products. The aging population is also a key factor driving the market, as older individuals tend to have higher healthcare needs and are more likely to use dietary supplements.In conclusion, the Vitamins & Minerals market in Netherlands is experiencing steady growth due to changing customer preferences towards healthier lifestyles, the aging population, and rising awareness about the importance of maintaining good health. The market is characterized by a growing demand for personalized nutrition and the increasing use of online platforms for purchasing dietary supplements. The favorable healthcare system and strong economy in Netherlands have also contributed to the growth of the market.

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.