COVID-19 was a boon for vitamins. In fact, vitamins registered the second highest current value growth after analgesics in 2020 and it is expected that it will also register healthy value growth in 2021, though value growth will be significantly lower.
Vitamins is a fragmented, competitive landscape. However, unlike many other consumer health product areas, it is led by a Hungarian player.
E-commerce is an important channel for vitamins and it is one of the more popular consumer health products sold online. The pandemic further accelerated this growth and this is likely to continue over the forecast period.
Vitamins will register healthy constant value growth over the forecast period and this growth will be from a higher baseline, due to the elevated value sales that have come about due to concerns around COVID-19. Even when the COVID-19 virus is brought under control, consumers will still continue to be wary for some time and place an ongoing higher value on their health, with the taking of vitamins becoming more common as an ongoing lifestyle trend.
Consumers in Hungary are becoming increasingly conscious of the importance of different vitamins in their diet for supporting growth, immunity, and a range of other health benefits such as eye, bone, and heart health. This trend will be intensified following the outbreak of COVID-19 as the pandemic had made people more mindful of their health.
Personalisation is becoming increasingly important to consumers in Hungary when it comes to their diets and consumer health habits. Adjacent to the movement around greater adoption of supplementation is the desire among a growing sub-culture of consumers (especially among younger cohorts) to consume products built for their particular needs and around their characteristics.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Hungary 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.
If you're in the Vitamins industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Vitamins
This report originates from Passport, our Vitamins research and analysis database.
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