Key regions: United Kingdom, India, Canada, Germany, China
The Vitamins & Minerals (Pharmacies) market in Australia & Oceania is experiencing steady growth and development.
Customer preferences: Customers in Australia & Oceania have shown a growing interest in maintaining their health and well-being, leading to an increased demand for vitamins and minerals. This can be attributed to a variety of factors, including a growing awareness of the importance of a healthy lifestyle, an aging population, and a focus on preventive healthcare. Additionally, there is a trend towards natural and organic products, with customers seeking out vitamins and minerals derived from natural sources.
Trends in the market: One of the key trends in the Vitamins & Minerals (Pharmacies) market in Australia & Oceania is the increasing popularity of online shopping. Customers are increasingly turning to online platforms to purchase their vitamins and minerals, due to the convenience and wide range of products available. This trend has been further accelerated by the COVID-19 pandemic, which has led to an increase in online shopping across all sectors. Another trend in the market is the growing demand for personalized vitamins and minerals. Customers are seeking products that are tailored to their specific needs and preferences, such as vitamins for specific age groups or health conditions. This trend is driven by the desire for customized healthcare solutions and the increasing availability of personalized products in the market.
Local special circumstances: Australia & Oceania has a unique environment and climate, which has a direct impact on the Vitamins & Minerals (Pharmacies) market. The region is known for its abundant natural resources, including a wide variety of fruits, vegetables, and herbs that are rich in vitamins and minerals. This has led to the development of a strong local industry for natural and organic supplements, with customers seeking out products that are sourced locally. Additionally, Australia & Oceania has a high level of health consciousness among its population. The region has a well-developed healthcare system and a strong emphasis on preventive healthcare. This has created a favorable environment for the growth of the Vitamins & Minerals (Pharmacies) market, as customers are actively seeking out products that can help them maintain their health and well-being.
Underlying macroeconomic factors: The Vitamins & Minerals (Pharmacies) market in Australia & Oceania is also influenced by underlying macroeconomic factors. The region has a stable and growing economy, with a high level of disposable income among its population. This has contributed to increased consumer spending on health and wellness products, including vitamins and minerals. Furthermore, the region has a strong pharmaceutical industry, which supports the development and distribution of vitamins and minerals. The presence of well-established pharmaceutical companies and pharmacies ensures a steady supply of products and provides customers with confidence in the quality and safety of the products they purchase. In conclusion, the Vitamins & Minerals (Pharmacies) market in Australia & Oceania is experiencing growth and development due to customer preferences for health and wellness products, the popularity of online shopping, the demand for personalized solutions, the unique local circumstances, and the underlying macroeconomic factors. As customers continue to prioritize their health, the market is expected to continue its upward trajectory in the coming years.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
