Vitamins and Dietary Supplements in Latin America

February 2021

There were stronger sales increases seen almost across the board in vitamins and dietary supplements in 2020, including explosive growth for vitamin C, as consumers looked to boost their immune systems, given the threat of Coronavirus (COVID-19). Vitamin D was another dynamic product perceived by some to offer protection against the virus. Growth will continue to be strong, with the pandemic possibly serving to help increase the prevention culture among the Latin American population.

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Key Findings

Sales spike for immunity-boosting products

Many consumers in the region, afraid of contracting COVID-19, and, despite there being no official recommendation to do so, are increasing their consumption of vitamins in order to improve their defences against the virus, in the same way they would try and protect themselves against a cold or the flu. Vitamin C sales in particular have benefited from this trend, with consumers believing this vitamin could help protect them from the virus. Single vitamins was therefore the most dynamic area of the market in 2020.

Rising awareness of preventative health

Consumers have been increasingly keen to maintain their health and wellbeing due to COVID-19, which has led to stronger growth in the overall category. While products linked with immunity are very much to the fore, general health products, such as multivitamins and combination dietary supplements, are also doing well against the backdrop of the pandemic.

Direct selling is the main non-store retailing channel

Although e-commerce continues to grow, with extra impetus provided to this channel’s sales in 2020 due to people spending more time at home as a result of measures to limit the spread of COVID-19, direct selling remains by far the biggest means of non-store distribution, holding the second largest share of retail sales. Only drugstores/parapharmacies accounts for more sales, with health and beauty specialist retailers as a whole making up almost two thirds of total retail value.

Economic impact of COVID-19

Although there is relative price inelasticity with regard to this industry’s products, many of the countries in the region are now experiencing economic difficulties due to the measures taken to contain the pandemic, which could have a negative effect on sales, or drive consumers towards cheaper or combination products.



Key findings

Regional Overview

Still low per capita consumption in Latin America
Further strong growth expected over 2020-2025
Strong growth in Brazil helps drive overall performance in 2020
Surge in sales of vitamins in the final year of the 2015-2020 period
Brazil and Mexico the main drivers of absolute growth
Immunity-boosting products driving sales during the COVID-19 pandemic
Health and beauty specialist retailers the main distributors
Health and beauty specialist retailers gain share in 2020

Leading Companies and Brands

Fragmented Latin American market sees “others” gaining ground
Booming sales of single vitamins help Bayer gain share in 2020
Mexico and Brazil account for the bulk of the leading players’ sales
Redoxon benefits from the dynamic growth in single vitamins

Forecast Projections

Brazil’s strong growth to drive overall regional performance in 2020-2025
Immunity and prevention to the fore in the coming years

Country Snapshots

Argentina: Market Context
Argentina: Competitive and Retail Landscape
Bolivia: Market Context
Bolivia: Competitive and Retail Landscape
Brazil: Market Context
Brazil: Competitive and Retail Landscape
Chile: Market Context
Chile: Competitive and Retail Landscape
Colombia: Market Context
Colombia: Competitive and Retail Landscape
Costa Rica: Market Context
Costa Rica: Competitive and Retail Landscape
Dominican Republic: Market Context
Dominican Republic: Competitive and Retail Landscape
Ecuador: Market Context
Ecuador: Competitive and Retail Landscape
Guatemala: Market Context
Guatemala: Competitive and Retail Landscape
Mexico: Market Context
Mexico: Competitive and Retail Landscape
Peru: Market Context
Peru: Competitive and Retail Landscape
Uruguay: Market Context
Uruguay: Competitive and Retail Landscape


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