The COVID-19 pandemic has boosted demand for vitamins, particularly those associated with enhancing the immune system, including multivitamins and vitamin C. Indeed, the surge in demand for vitamin C led to it being out of stock in many stores in the initial phase of lockdown.
The uncertain conditions prevailing during the COVID-19 pandemic have encouraged consumers to go back to the security of their roots and demand natural, plant-based ingredients that are perceived to be safe and supported by long traditions of consumption. As a result, there has been a significant rise in demand for Ayurvedic products during the pandemic, which has led companies without an Ayurvedic positioning to incorporate traditional Indian ingredients such as amla, curcumin, turmeric, and black pepper in their vitamins offer.
Amway India Enterprises Pvt Ltd remains the largest player in vitamins in the Indian market thanks to its strong Nutrilite range of products across multivitamins and single vitamins, which includes Nutrilite Daily in multivitamins and Natural C and B in single vitamins. The company’s core direct selling model has been negatively impacted by the COVID-19 pandemic because it primarily relies on face-to-face contact.
COVID-19 is set to consolidate the existing trend towards rising consumer health-consciousness and bolster the interest in preventive health measures rather than responding to problems when they arise. This is expected to drive growing demand for vitamins during the forecast period.
Lockdown significantly strengthened online sales of vitamins, with e-commerce reducing the risk of viral transmission through social contact, as well as providing convenience and competitive pricing. This shift in consumer behaviour is likely to endure during the forecast period, even beyond the pandemic, supported by the demand for convenience amongst busy consumers and, importantly, the capacity to offer competitive prices in the context of the challenging economic conditions resulting from efforts to contain COVID-19.
The general rise in demand for natural products is likely to provide a foundation for the revival of interest in traditional Ayurvedic medicine to persist during the forecast period. Many consumers have turned to Ayurvedic products during the COVID-19 pandemic, while the range of products available has expanded significantly.
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