Vitamins is anticipated to largely benefit from the COVID-19 pandemic in 2020 overall. Since the global health crisis began, many consumers across the globe have begun taking greater care of their health, with North Macedonia being no exception.
In 2020, Krka Farma, the local subsidiary of the Slovenian company Krka dd Novo Mesto, will remain the leading player in vitamins. However, the company’s shares are continuing to decline, due primarily to significantly stronger competition from smaller and lesser-known companies and brands.
In North Macedonia, consumers tend to purchase vitamins for a variety of reasons. Their purchasing decisions are mostly driven by needs dictated by their age.
After largely benefiting from the pandemic, vitamins is anticipated to continue performing well over the forecast period. The outbreak of COVID-19 has caused many Macedonian people to question their overall health and make some changes in order to become healthier.
In recent years, the way companies advertise their products have undergone drastic changes. With the rise of social media platforms such as Instagram and YouTube, many companies have begun promoting their products via influences with large followings.
Towards the end of the review period, chemists/pharmacies began slowly losing value shares. After years of being the main source of vitamins, chemists/pharmacies have had its shares absorbed by supermarkets and beauty specialist retailers, which is expected to continue over the forecast period.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in North Macedonia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Vitamins research and analysis database.
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