Like single vitamins, a number of dietary supplements benefited from increasing awareness of the need to boost one’s immune system during the pandemic in 2020. Particularly strong performers were fish oils/omega fatty acids, calcium supplements, and combination non-herbal/traditional dietary supplements.
Probiotic supplements continued to benefit from perceptions of prevention, recording further double-digit growth in 2020. Digestive made the greatest share gain in terms of positioning within dietary supplements during the pandemic, and therefore probiotic supplements benefited from this trend, as it is positioned as supporting good gut health, although its higher than average price is likely to have been discouraging for some consumers due to decreasing disposable incomes, indicated in the slower volume growth compared to 2019.
The competitive landscape of dietary supplements is more fragmented than vitamins, with a strong presence of direct selling companies led by Omnilife Manufactura de Colombia Ltda, which regained its leadership from Sanofi-Aventis Pharma SA, due to the strong performance of its wide product portfolio which includes brands Omniplus, Aloe Beta and Starbien. Direct sellers are increasingly marketing their products by focusing more on improving one’s nutritional intake.
Dietary supplements is predicted to continue to record solid demand over the early part of the forecast period. This will be driven by a number of products as consumers continue to invest in preventative health due to heightened awareness of both the need to boost their immune systems, driving ongoing strong growth of probiotic supplements, as well as the longer-term benefits to their overall health and wellbeing.
Two of the main distribution channel for dietary supplements in Colombia are chemists/pharmacies and healthfood stores, in which companies such as Funat and Natural Freshly compete side by side. Direct selling on the other hand, continues to gradually lose ground, with players increasingly forced to adopt digital marketing strategies to strengthen relationships with customers through social media and messaging apps, in addition to transactional website sales in order to compete more strongly, while complementing the traditional role of sales representatives, a particularly relevant factor with the pandemic limiting face-to-face consultations.
Dietary supplements are only permitted to be sold in Colombia after obtaining INVIMA certification called VPN. This follows very strict regulations and any changes, either in infrastructure, format, or even packaging, means that a brand will have to obtain new certification.
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Understand the latest market trends and future growth opportunities for the Dietary supplements industry in Colombia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Dietary supplements industry in Colombia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Dietary supplements research and analysis database.
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