Retail sales of vitamin C have skyrocketed in 2020, as consumer awareness about the preventive benefits of vitamin C against cold and flu, and as providing immune support, increase in Bulgaria. The sales of vitamin C increased 3 to 4 times as a result of COVID-19, with consumers stockpiling the product in preparation for shortages.
In single vitamins, the highest current retail value sales growth in 2020 will be in vitamin D. This can be attributed partially to the category rising from a smaller sales base than either vitamin B or vitamin C, and also the important role vitamin D role plays in regulating immune system function, an important for protecting against COVID-19 crisis.
Local players, such as Teva Pharmaceuticals and Sopharma, with a well-established presence in popular products such as vitamin C, are expected to see strong growth throughout the year in 2020 as they leverage their strong positions to introduce a range of brand expansions and new products. For example, many companies are seeking to introduce more concentrated formulas or innovative new formats such as the sachet format or products which promise longer lasting effects.
Solid growth is expected throughout the forecast period, with the future outlook for vitamins seeming bright. Even after the impact of COVID-19 has lessened, it is likely that the demand for vitamins in Bulgaria will remain strong, with stressful lifestyles, poor diet, the reduced nutritional value of industrial food and high pollution levels in Bulgarian cities leading to common deficiencies of vitamins.
Vitamins are expected to become increasingly attractive for private label brands into the forecast period, with a number of companies likely to launch their own ranges. Vitamins has high potential as a popular lifestyle category and the future looks positive for the product.
Multivitamins are expected to continue to drive overall growth in vitamins in Bulgaria into the forecast period, as it remains the dominant vitamins category, appealing to consumers by offering greater ease and wide health benefits. However, in response to the shift towards more targeted products, the leading players in multivitamins are likely to continue to expand their ranges of more customised products, targeting them towards specific consumer segments.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Bulgaria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Vitamins research and analysis database.
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