COVID-19 will have a positive impact on the growth of vitamins in 2020. Retail volume sales particularly boomed in March, when the government introduced the new lockdown restrictions.
Private label products will continue to see strong growth in 2020, as an increasingly price conscious consumer base seeks out lower cost products. With the demand for vitamins high, a number of large pharmacy chains are taking the opportunity to launch their own vitamin products, which are then distributed through their pharmacy network.
In 2020, local player Hipocrate 2000 will strengthen its lead in vitamins. Hipocrate offers a wide range of vitamin products under brands such as Vitamax, Eurovita and Ascovit.
According to a study released by RASCI, vitamins is the go-to product for Romanians facing problems with stress, tiredness and lack of energy. 48% of Romanians responded that vitamin products are the first remedy that they try when suffering from any of these conditions.
Vitamins is likely to remain subject to high levels of competition over the forecast period and leading players are expected to step up their efforts to develop higher levels of brand recognition. New product development is set to be an important tool for gaining the interest of more consumers, especially products that are extensions of brands that are already well known.
The forecast period is set to see multivitamins remain the most popular vitamins. Consumers tend to prefer multivitamins as they offer a far broader range of health benefits in comparison with single vitamins.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Romania 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 Romania, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Vitamins research and analysis database.
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