Vitamins in Argentina

PROSPECTS

Retailers to drive growth

The improving economy is set to support sales of vitamins over the forecast period. However, high inflation is set to continue to erode purchasing power, which is likely to be the most important threat to vitamins as sales are highly dependent on disposable incomes.

Imported products set to gain ground

Imported vitamins are expected to gain ground during the forecast period, driven by a more flexible protectionist policy and fuelled by the appreciation of the local currency against the dollar. Vitamins is in a growth phase, with more companies likely to enter the area soon as import barriers are relaxed and the business environment normalised for international companies seeking to bring products into the local market.

Internet sales to gain ground over coming years

Internet retailing is offering increasingly strong competition to drugstores/parapharmacies. Internet sales of vitamins registered the strongest average annual growth over 2013-2018, largely due to the area’s low sales base.

COMPETITIVE LANDSCAPE

High level of concentration

Vitamins is a highly concentrated area, with Bayer Argentina, Instituto Serotera´pico Argentina SAIC, Boehringer Ingelheim (Argentina) and Laboratorio Temis Lostalo´ jointly accounting for the vast majority of retail value sales. The remainder of sales are shared between over 30 companies, mostly domestic manufacturers.

Imports lose ground

Imported vitamins lost significant ground over the review period due to import restrictions, although the main imported brands, such as Good N Natural and Natural Life, began to grow again over the 2016-2017 period.

New multivitamin positioned for sports and entry of private label

In September 2016, Laboratorios Gramo´n Millet introduced 102 Sports Max, a multivitamin marketed as a brand extension of 102 Plus. The product is marketed as a multivitamin aimed at those active in sports activities.

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