Following moderate growth after economic deceleration earlier in the review period, the Bolivian economy slowed slightly in 2019, in line with domestic consumption. As 2019 is a presidential election year, Bolivians are displaying more cautious purchasing behaviour, resulting in moderate consumer health growth.
The shift towards preventive healthcare continues among Bolivian consumers, driven largely by a middle class with greater purchasing power than previous generations. The behaviour of millennials is also a particularly important influence on the growth of certain categories.
The largest consumer health categories continue to be dominated by imported products. Importers such as Comercial Miclar (Herbalife) and Omnilife de Bolivia hold the top two positions in both weight management and wellbeing, and vitamins and dietary supplements thanks to the breadth of their product offering and extensive direct sales networks.
Bolivian consumers are increasingly likely to purchase OTC products in pharmacy chains. As a result, there was a decline in the number of independent retailers offering these types of products over the review period.
The Bolivian economy is expected to continue to see moderate growth during the forecast period. A growing emphasis on healthcare and wellbeing on the part of increasingly informed consumers is also expected, providing a favourable environment for the development of consumer health products.
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