COVID-19 boosted demand for vitamins in Peru in 2020, in particular in March and April, with many fearing shortages and limited access to stores. With news spreading about the importance of a strong immune system for defending against the virus, and consumers more aware of the importance of their health and wellbeing, sales of vitamins saw a steep increase.
Bayer leads vitamins in Peru in 2020 with its Redoxon brand. Although it started selling its products via supermarkets in late 2017, this channel still only accounts for a small share of its value sales.
Making a consumer’s life easier is an important factor that brand owners need to take into account. People are adverse to taking lots of different supplements and pills, and, when taking vitamins, consumers prefer to use multivitamin products.
A number of new innovative developments are expected to be seen into the forecast period, adding interest to vitamins in Peru. For example, Laboratorios Bagó is looking to introduce vitamins with added probiotics and prebiotics, while a number of other companies are testing new additives to extend their product lines.
Big pharmacies have introduced their own private label lines of vitamins at lower prices than those of the principal companies in vitamins and this is expected to negatively affect sales of branded vitamins in coming years. While popular brands have built up a high level of trust in consumers, offering assurance on the effectiveness, quality and safety of products, the recommendation of a pharmacist is likely to remain a key influence for consumers purchasing vitamins in Peru.
Consumers are expected to remain influenced by recommendations from pharmacists into the forecast period, although they also like to see the products in pharmacies or other distribution outlets. They will also continue to be keen to check the packaging to study the product and its ingredients, with vitamins and dietary supplements having a very large share of herbal/traditional products, as well as the in-store location.
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This report originates from Passport, our Vitamins research and analysis database.
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