Practising sports is much more common among Bolivia’s population today than in the past, when poverty and political instability restricted regular leisure-time activities. With the sustained growth of the Bolivian economy over the last decade, there has been an improvement in the quality of life and available disposable incomes for recreational and sports activities, with the middle class continuing to expand steadily.
Bolivia has witnessed an explosion in the number of gyms across the country as a result of several factors, including higher levels of obesity, a growing emphasis on physical appearance, and the fact that these facilities are also centres for socialising among millennials. According to state agency, Fundempresa, a total of 222 gym companies were registered in Bolivia in 2018.
The average price of sports nutrition products is considered to be expensive by the majority of the Bolivian population, thus constraining potential for expansion. Among the factors affecting prices in the marketplace are the lack of domestic production and the considerable impact of import taxes.
Sports nutrition is led by Omnilife de Bolivia, which offers the widest range of products in the category. The company’s main product, Magnus, specifically targets athletes and claims to provide up to six hours of continuous energy, thus helping to eliminate fatigue and improve mood.
Comercial Miclar ranked second within sports nutrition in 2019 due to the popularity of its Herbalife 24 Rebuild Strength and CR7 brands, with the latter only recently being launched on the market. In response to slow growth related to high prices, the distributor managed to convince its manufacturer to accept lower profit margins – a development which should help to boost growth in the future.
Sports nutrition has a very specific target market comprising professional and amateur athletes with a certain level of purchasing power. Distribution channels are also very specialised, with sales being dominated by direct selling.
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This industry report originates from Passport, our Consumer Health market research database.