COVID-19 will not affect growth in value sales of vitamins in Serbia during 2020. Indeed, 2020 will be the first year during the review period that value sales growth did not decelerate, with growth in value sales of vitamin A actually seeing a significant increase.
Growth in value sales is mainly being driven by the perception that a regular intake of vitamins is key to health maintenance. This perception is fostered by the rising number of articles in the specialised press and more importantly on the internet, particularly social media platforms.
CaliVita International, Hemofarm ad and Galenika ad remain the top three players in vitamins. They all have a strong reputation for quality among consumers and continue to make significant investments in marketing.
There has been an increase in negative media coverage of vitamins in Serbia during the latter part of the review period, with a growing number of articles maintaining that they are superfluous if a person is consuming a balanced diet. However, this has yet to impact value sales growth in any significant way and is not likely to do so during the review period: The notion that vitamins are good for one’s health is well established in Serbia and may even be deepening on the back of the burgeoning health and wellness trend.
Most multivitamins sold in Serbia lack a specific positioning. Among the few that are positioned, the most popular are for women and pregnancy.
Although private label currently accounts for a negligible share of value sales in vitamins, it has not disappeared. When German discounter Lidl entered Serbia in the middle of the review period, it launched its Optisana private label line of vitamins.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Serbia 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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