Executive Summary

Oct 2019
PROSPECTS
Multivitamins continues to suffer from shift towards more targeted products

The slowdown in sales of multivitamins continued in 2019 after growth slowed sharply in the category in 2018. The main reason for the slower growth in the category towards the end of the review period is maturity of demand, combined with the rising consumer interest in rival products.

Vitamin D registers a strong performance, rising from a low base

In single vitamins, the highest sales growth in 2019 was registered in vitamin D. This can be attributed partially to the category rising from a smaller sales base than either vitamin B or vitamin C.

Premiumisation spurs value growth as consumers seek more sophisticated products

The outlook for vitamins during the forecast period is very positive. In particular, value sales are likely to be driven by the premiumisation trend, with the largest category of multivitamins maturing and more niche products categorised under single vitamins increasingly preferred by more sophisticated consumers with higher awareness of the importance of taking vitamins for maintaining good health.

COMPETITIVE LANDSCAPE
Supravit continues to benefit from its convenient delivery format and low prices

Supravit remained the leading brand in vitamins in 2019, outperforming the category to extend its lead and underline its position as the leading name in vitamins in Bulgaria. Supravit’s parent company Kendy Swisse AG continues to focus on developing the brand, marketing it as a product that offers higher levels of added value at prices that are highly competitive with level products, notably those offered by direct selling companies.

International brands continue to lead sales, registering dynamic growth in 2019

International brands remained in control of sales of vitamins and 2019, with Supravit, Doppelherz, Citrovit Vitamin C, Centrum, Sanostol and Supradyn prominent among the leading names in the category. In addition, many of the most dynamic names in a category during the year are also international brands.

Direct selling continues to expand its presence in vitamins

Direct selling continues to expand as a retail channel and Bulgaria and consumer health remains a major product area for many of the country’s leading direct selling companies. In addition, with the leading direct selling companies generally focusing on premium products, the increasing influence of direct selling companies is contributing to the premiumisation trend being seen across the category.

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OVERVIEW

Discover the latest market trends and uncover sources of future market growth for the Vitamins industry in Bulgaria with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Vitamins industry in Bulgaria, our research will save you time and money while empowering you to make informed, profitable decisions.

The Vitamins in Bulgaria market research report includes:
  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as: 
  • What is the market size of Vitamins in Bulgaria?
  • What are the major brands in Bulgaria?
  • Are combination products with acetaminophen still popular?
Why buy this report?
  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Consumer Health market research database.

Vitamins in Bulgaria - Category analysis

HEADLINES

PROSPECTS

Multivitamins continues to suffer from shift towards more targeted products
Vitamin D registers a strong performance, rising from a low base
Premiumisation spurs value growth as consumers seek more sophisticated products

COMPETITIVE LANDSCAPE

Supravit continues to benefit from its convenient delivery format and low prices
International brands continue to lead sales, registering dynamic growth in 2019
Direct selling continues to expand its presence in vitamins

CATEGORY DATA

Table 1 Sales of Vitamins by Category: Value 2014-2019
Table 2 Sales of Vitamins by Category: % Value Growth 2014-2019
Table 3 Sales of Multivitamins by Positioning: % Value 2014-2019
Table 4 NBO Company Shares of Vitamins: % Value 2015-2019
Table 5 LBN Brand Shares of Vitamins: % Value 2016-2019
Table 6 Forecast Sales of Vitamins by Category: Value 2019-2024
Table 7 Forecast Sales of Vitamins by Category: % Value Growth 2019-2024

Consumer Health in Bulgaria - Industry Overview

EXECUTIVE SUMMARY

Consumer health continues to benefit from economic develop and rising incomes
Limited spending power continues to suppress sales growth
The industry remains highly consolidated, with tight regulation stifling competition
Growth is recorded in internet retailing as online shopping begins to take off
Moderate sales growth expected in consumer health over the forecast period

MARKET INDICATORS

Table 8 Consumer Expenditure on Health Goods and Medical Services: Value 2014-2019
Table 9 Life Expectancy at Birth 2014-2019

MARKET DATA

Table 10 Sales of Consumer Health by Category: Value 2014-2019
Table 11 Sales of Consumer Health by Category: % Value Growth 2014-2019
Table 12 NBO Company Shares of Consumer Health: % Value 2015-2019
Table 13 LBN Brand Shares of Consumer Health: % Value 2016-2019
Table 14 Distribution of Consumer Health by Format: % Value 2014-2019
Table 15 Distribution of Consumer Health by Format and Category: % Value 2019
Table 16 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 17 Forecast Sales of Consumer Health by Category: % Value Growth 2019-2024

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches

DEFINITIONS

SOURCES

Summary 1 Research Sources