Operating conditions remain difficult in 2018 with players in sport nutrition products bearing the costs of importing products at the black market exchange rate. Prices reflect directly the constant weakening of the domestic currency and companies are facing the increasing risks of lower turnover rates.
In Venezuela, people view sports nutrition as the preserve of serious athletes or muscle builders. Sports nutrition is still underdeveloped with segmentation mainly based on the benefits offered to consumers.
After the closure of many General Nutrition Center stores across the country, consumers of sports nutrition products face a great deal of trouble finding trusted providers. A looming fear of recommending products that might have been adulterated is increasing among professional trainers, in particular regarding steroids and other sports supplements.
All products in this category are imported at the black market exchange rate and companies face the impending increase of replacement costs. Individual gyms, sports clubs and other organisations linked to the sports world are no longer offering sports nutrition products for this reason.
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Discover the latest market trends and uncover sources of future market growth for the Sports Nutrition industry in Venezuela with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Consumer Health market research database.