A tough influenza season coupled with a new wave of COVID-19 following the lifting of New Zealand’s restrictions has seen consumers flocking to pharmacies for remedies to boost their immunity, with this providing a boost to sales of vitamins in 2022. New Zealand has been slower to recover from the Omicron variant which hit the country in February/March 2022, with this being attributed to various factors including the slow uptake of the booster jab.
Industry players have developed specialised ranges of products that are marketed as practitioner-only to differentiate from mainstream products. Practitioner-only products refer to products that can only be supplied by qualified health practitioners before purchasing and tend to have a more concentrated dosage, thus these tend to command a higher price, attracting the interest of more manufacturers and brand owners looking to compete in vitamins.
Under the new draft Therapeutic Products Bill, which was submitted in 2021, vitamins is faced with pending changes in regulation including those surrounding therapeutic claims. The new-look regulator will likely demand robust evidence for the claims of natural remedies which could undermine the ability of manufacturers to promote their products.
Vitamins is expected to register moderate value growth over the forecast period (at constant 2022 prices). While vitamins hugely benefitted from the COVID-19 pandemic as consumers looked to boost their immunity, vitamins are in a way a victim of their own success, with competition increasing from other industries.
Opportunities for personalisation remain when it comes to new product development within vitamins, with the category still seen to be in its infancy in terms of innovation. The use of health questionnaires and lifestyle goals in subscription services remains the most common approach to personalisation and this is expected to evolve in terms of a more sophisticated product that can really respond to more individual health needs.
New local and niche players are anticipated to continue emerging over the forecast period, with products featuring local ingredients and local know how, including products that incorporate Rongoa Maori or traditional Maori healing. Rado Remedies, Viktual+ and Tutu Rongoa Maori are examples of existing products in the market that are following this trend.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Vitamins
This report originates from Passport, our Vitamins research and analysis database.
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