In 2020, vitamins is expected to see slightly higher current value growth than in the previous year. Although this is partly likely to be due to price growth, consumers in Australia also increased their demand for vitamins due to COVID-19 in 2020, in particular during the panic-buying period in March and April, with many fearing shortages and limited access to stores.
A factor which is expected to hamper growth in 2020 is the halt to arrivals in the country by non-citizens or permanent residents, due to COVID-19. Demand for Australian dietary supplements amongst Chinese consumers had fuelled a rise in specialist personalised cross-border professional shoppers, or daigou, who used to visit the country and return with suitcases full of tax-free vitamins.
Sanofi-Aventis Australia is expected to continue to lead vitamins in Australia in 2020, with its Cenovis, Ostelin and Nature's Own brands. However, all its brands are set to see slight share declines in this year, bringing it closer to the second and third players in terms of value share.
After the expectation of a slight increase in the current value growth rate of vitamins in 2020, the growth rate in 2021 is expected to drop back slightly. As the number of cases of COVID-19 falls, some consumers are expected to consume fewer types of vitamins, and some who turned to them in a time of health crisis may cease their consumption.
Several companies launched new products in 2020, to respond to the higher demand for immunity-boosting products due to COVID-19. Launches were particularly evident in vitamin C.
Many of the leading players in vitamins rely on partnerships with celebrities and athletes for the promotion of their respective product ranges. Indeed, celebrity endorsement is expected to remain one of the most common marketing strategies in vitamins in the forecast period.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Australia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Vitamins research and analysis database.
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