Though COVID-19 cannot be called a good news story, value sales of vitamin benefitted from the health crisis, with double-digit value growth expected in 2020. While multivitamins are by far the largest product area, it is single vitamins, and in particular vitamin C that is expected to register the highest current value growth in 2020.
Comercial Miclar SRL retains leadership position. However, it has consistently been losing value share over the review period and this expected to continue in 2020.
Though vitamin B was not the star performer in 2020, vitamin B has been registering healthy value growth over the review period. Many Bolivians believe that vitamin B protects against mosquito bites, though this has not been medically proven, and in particular Bolivians take to vitamin B to protect them from dengue fever, which is transmitted through mosquito bites.
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 during the health crisis may cease their consumption. On the other hand, solid growth is expected throughout the forecast period and as more consumers have become used to taking vitamins during the pandemic, some are likely to maintain this habit in the forecast period, leading to a higher current value growth rate in the forecast period than was seen in the review period.
Notwithstanding the effects of COVID-19 on consumer behaviour, rising health-awareness, underpinned by factors such as government efforts to address public health issues are driving a trend towards greater preventive healthcare among Bolivians. This is reflected in increasing consumption of vitamins as part of daily life.
Child malnutrition is one of the main public health problems in Bolivia and the government has looked to address the issue by developing preventive nutritional programmes and giving priority to high-risk groups, including pregnant women, children and seniors. These preventive campaigns are called Chispitas (for children) and Carmelos (for the elderly) and include the distribution of free vitamins (mainly vitamin A, vitamin D and vitamin C) in public health centres and could therefore potentially affect future sales of vitamins in distribution channels such as pharmacies and supermarkets.
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This report originates from Passport, our Vitamins research and analysis database.
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