Market Insights Health OTC Pharmaceuticals

Vitamins & Minerals - United States

United States

The revenue generated in the Vitamins & Minerals market market in the United States amounts to €4.24bn in 2024.
It is projected to grow annually by 4.84% (CAGR 2024-2029).
When compared globally, in China generates the highest revenue of €4,941.00m in 2024.
In terms of per person revenues, €12.41 is generated in the United States in 2024.
The United States is seeing a growing demand for personalized vitamins and minerals, as consumers prioritize individualized wellness solutions.

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

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Analyst Opinion

The Vitamins & Minerals market in United States is experiencing significant growth and development.

Customer preferences: Customers in the United States are increasingly becoming health-conscious and are actively seeking ways to improve their overall well-being. As a result, there is a growing demand for vitamins and minerals as consumers recognize the importance of these nutrients in maintaining good health. Additionally, with the rise of social media and the influence of health and wellness influencers, consumers are more aware of the benefits of specific vitamins and minerals and are seeking products that cater to their individual needs.

Trends in the market: One of the key trends in the Vitamins & Minerals market in United States is the increasing popularity of personalized nutrition. Consumers are looking for products that are tailored to their specific needs and are willing to pay a premium for personalized solutions. This trend has led to the emergence of personalized vitamin subscription services and the use of advanced technology to create customized vitamin blends based on individual health profiles.Another trend in the market is the growing demand for natural and organic vitamins and minerals. Consumers are becoming more conscious of the ingredients in the products they consume and are actively seeking out natural and organic alternatives. This has led to the development of a wide range of natural and organic vitamin and mineral supplements in the market.

Local special circumstances: The United States has a well-established health and wellness industry, with a large number of consumers actively seeking out products that can improve their overall health. This has created a favorable environment for the growth of the Vitamins & Minerals market. Additionally, the country has a highly developed retail infrastructure, with a wide range of distribution channels available for vitamin and mineral products. This allows manufacturers to reach a large number of consumers across the country.

Underlying macroeconomic factors: The growing interest in health and wellness, coupled with the increasing disposable income of consumers, has contributed to the growth of the Vitamins & Minerals market in the United States. As consumers prioritize their health, they are willing to spend more on products that can support their well-being. Additionally, the aging population in the country is also driving the demand for vitamins and minerals, as older adults are more likely to require supplements to meet their nutritional needs.In conclusion, the Vitamins & Minerals market in United States is experiencing significant growth and development due to the increasing health consciousness of consumers, the demand for personalized nutrition, the popularity of natural and organic products, and the favorable local circumstances and underlying macroeconomic factors.

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.