Dietary Supplements in Guatemala

PROSPECTS

Consumers take preventative measures including dietary supplements

The positive forecast for dietary supplements is driven mainly by rising consumer awareness of the importance of maintaining health and wellness in order to prevent illnesses, rather than be forced to treat ailments with prescribed or OCT remedies. In Guatemala, consumers benefit from the large range of dietary supplements that are on offer; from economy domestic players such as Ferridoce, to premium offerings such as GNC.

Combination dietary supplements have high levels of demand

Dietary supplements include herbal/traditional products, such as echinacea, evening primrose oil, ginseng, flaxseed/linseed and garlic, and non-herbal products like co-enzyme Q10, fish oils/omega fatty acids, glucosamine, minerals, protein supplements, probiotic supplements and lecithin. In 2019 combination products saw high levels of demand.

Innovation is mainly seen from international, premium brands

Innovation is mostly seen from international brands, such as GNC and Vitamin Shoppe. Both players import new offerings and formulas from large companies that invest in research and development; resulting in a premium offering.

COMPETITIVE LANDSCAPE

Direct selling leads the competitive environment

Strong and long-established direct selling companies, led by Omnilife, Herbalife and Nature’s Sunshine Products, which offer a wide range of dietary supplements within their portfolios, dominate the competitive environment. These companies rely on affordable prices and well-developed distribution networks of direct sellers, who have strong incentives to sell their items.

Farmamédica launches Sukrol Pro and Contrasa introduces Castilla

In 2019, Farmamédica launched Sukrol Pro, a combination dietary supplement available in gel tablets, that benefits physical and mental energy; improving memory, mood and concentration. Sukrol Pro is a combination dietary supplement with a formula including Coenzyme Q10, Phosphorous, and Thiamine.

Marketing campaigns commonly focus on the benefits of ingredients

Marketing campaigns are commonly seen for dietary supplements, mainly from leading offerings such Vital Fuerte and Sukrol Vigor. These both advertise across television, radio and billboards, highlighting benefits such as energy and increased general wellbeing; a tactic that most dietary supplements focus on in their advertising.

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