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Vitamins & Minerals (Pharmacies) - Poland

Poland

Revenue in the Vitamins & Minerals market is projected to reach €0.53bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.42%, resulting in a market volume of €0.69bn by 2029.
In global comparison, most revenue will be generated in China (€4,051.00m in 2024).
In relation to total population figures, per person revenues of €13.06 are generated in 2024.

Key regions: United Kingdom, India, Canada, Germany, China

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Analyst Opinion

The Vitamins & Minerals (Pharmacies) market in Poland has experienced significant growth in recent years, driven by changing customer preferences and trends in the market.

Customer preferences: Customers in Poland are increasingly focused on maintaining their health and well-being, leading to a growing demand for vitamins and minerals. This trend is driven by a number of factors, including an aging population, rising healthcare costs, and a greater emphasis on preventive healthcare. As a result, consumers are turning to pharmacies as a convenient and trusted source for their vitamin and mineral needs.

Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Poland is the growing popularity of natural and organic products. Consumers are becoming more conscious about the ingredients in the products they consume and are seeking out natural alternatives. This has led to an increase in demand for vitamins and minerals derived from natural sources, such as fruits, vegetables, and herbs. Another trend in the market is the rise of personalized nutrition. Consumers are increasingly looking for customized solutions to meet their specific health needs. This has led to the development of personalized vitamin and mineral supplements, tailored to individual requirements. Pharmacies are well-positioned to offer these personalized solutions, as they can provide expert advice and guidance to customers.

Local special circumstances: Poland has a well-developed pharmacy network, with a high number of pharmacies per capita compared to other European countries. This provides easy access to vitamins and minerals for consumers across the country. Additionally, pharmacies in Poland are regulated by the government and must meet strict quality standards, ensuring that customers can trust the products they purchase.

Underlying macroeconomic factors: The Vitamins & Minerals (Pharmacies) market in Poland is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, leading to increased disposable income levels. This has allowed consumers to spend more on healthcare and wellness products, including vitamins and minerals. Furthermore, the COVID-19 pandemic has further accelerated the growth of the market. The pandemic has heightened awareness of the importance of maintaining a strong immune system, leading to increased demand for vitamins and minerals that support immune health. Pharmacies have played a crucial role during the pandemic, providing essential healthcare products to consumers. In conclusion, the Vitamins & Minerals (Pharmacies) market in Poland is developing due to changing customer preferences, including a focus on health and well-being, the popularity of natural and organic products, and the rise of personalized nutrition. The country's well-developed pharmacy network and strong regulatory framework also contribute to the growth of the market. Additionally, underlying macroeconomic factors, such as economic growth and the impact of the COVID-19 pandemic, have further fueled the demand for vitamins and minerals in pharmacies.

Methodology

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.