Executive Summary

Oct 2019
PROSPECTS
Maturity of larger categories offset by increasing demand for niche supplements

Dietary supplements recorded low overall growth in 2019, due to the ongoing maturity of some of the largest categories including fish oils/omega fatty acids, and minerals. However, demand for probiotic supplements and protein supplements continued to record strong volume growth supported by ongoing health trends, with the latter in particular attractive to consumers who follow certain lifestyles such as veganism and look to these products to supplement their protein intake from other sources apart from animals.

Beauty from within supports demand for niche of co-enzyme Q10

Beauty from within appears to be a trend that is gaining traction in Finland, supported by beauty blogs, social media influencers and general media attention that all point to the results that can be obtained by feeding the skin and attaining healthy nails and hair through consuming various dietary supplements. This is boosting demand for supplements such as co-enzyme Q10 as beauty continues to gain ground within positioning, which is a similar trend witnessed in the niche of tonics.

Herbal/traditional dietary supplements continues to slowly gain share

Interest in herbal/traditional dietary supplements is slowing growing with this segment continuing to gain value share from the dominant standard products, leading to stable current value growth. However, due to its natural positioning the category also faces competition from outside of the market as some consumers look to incorporate certain herbs or spices that they perceive to be beneficial to their health through food and beverages, while others look to superfood powders full of antioxidants to add to smoothies.

COMPETITIVE LANDSCAPE
Highly fragmented landscape dominated by local and regional producers

Dietary supplements continued to be a highly fragmented competitive landscape dominated by local or regional companies, with the overall category being led by domestic player Midsona Finland Oy, followed by Hankintatukku Arno Latvus Oy and Verman Oy Ab. These players managed to maintain or improve their share, specifically targeting Finnish consumers in their marketing, with a focus on the safety aspect of their products.

Two distribution channels continue to gain notable share

Modern grocery retailing continued to gain value share of distribution within dietary supplements, having a positive impact on the presence of private label, with both S Group’s Rainbow and Kesko’s Pirkka maintaining highly ranked positions in 2019. Internet retailing also gained strong value share, offering consumers a wide range of products and prices from which to choose.

Minisun continues to perform well with wide portfolio

Minisun from Verman Oy Ab continued to improve its position within dietary supplements with a wide range of products including a respectable position within paediatric vitamins and dietary supplements, while its combination dietary supplements Minisun Super Defence continued to record impressive current value growth. This product targets consumers who want to help support their immune system, particularly through the winter season when they may be more susceptible to colds, with the lozenges comprising zinc, alongside lemon, ginger and honey.

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Dietary Supplements in Finland

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Overview

Discover the latest market trends and uncover sources of future market growth for the Dietary Supplements industry in Finland with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Dietary Supplements industry in Finland, our research will save you time and money while empowering you to make informed, profitable decisions.

The Dietary Supplements in Finland market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Dietary Supplements in Finland?
  • What are the major brands in Finland?
  • Are combination products with acetaminophen still popular?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Health market research database.

Dietary Supplements in Finland - Category analysis

HEADLINES

PROSPECTS

Maturity of larger categories offset by increasing demand for niche supplements
Beauty from within supports demand for niche of co-enzyme Q10
Herbal/traditional dietary supplements continues to slowly gain share

COMPETITIVE LANDSCAPE

Highly fragmented landscape dominated by local and regional producers
Two distribution channels continue to gain notable share
Minisun continues to perform well with wide portfolio

CATEGORY DATA

Table 1 Sales of Dietary Supplements by Category: Value 2014-2019
Table 2 Sales of Dietary Supplements by Category: % Value Growth 2014-2019
Table 3 Sales of Dietary Supplements by Positioning: % Value 2014-2019
Table 4 NBO Company Shares of Dietary Supplements: % Value 2015-2019
Table 5 LBN Brand Shares of Dietary Supplements: % Value 2016-2019
Table 6 Forecast Sales of Dietary Supplements by Category: Value 2019-2024
Table 7 Forecast Sales of Dietary Supplements by Category: % Value Growth 2019-2024

Consumer Health in Finland - Industry Overview

EXECUTIVE SUMMARY

Stable demand for consumer health as consumers increasingly look to self-care and prevention
Ongoing debate over restrictive OTC environment could lead to opening up of distribution
Orion holds fragile lead over fragmented consumer health, while GSK Consumer Healthcare vastly improves share through Pfizer deal
Modern grocery retailers and internet retailing continue to gain share from leading distribution channel chemists/pharmacies
Positive performance for consumer health despite a not so optimistic economic outlook

MARKET INDICATORS

Table 8 Consumer Expenditure on Health Goods and Medical Services: Value 2014-2019
Table 9 Life Expectancy at Birth 2014-2019

MARKET DATA

Table 10 Sales of Consumer Health by Category: Value 2014-2019
Table 11 Sales of Consumer Health by Category: % Value Growth 2014-2019
Table 12 NBO Company Shares of Consumer Health: % Value 2015-2019
Table 13 LBN Brand Shares of Consumer Health: % Value 2016-2019
Table 14 Penetration of Private Label in Consumer Health by Category: % Value 2014-2019
Table 15 Distribution of Consumer Health by Format: % Value 2014-2019
Table 16 Distribution of Consumer Health by Format and Category: % Value 2019
Table 17 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 18 Forecast Sales of Consumer Health by Category: % Value Growth 2019-2024

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine

SWITCHES

DEFINITIONS

SOURCES

Summary 1 Research Sources