After seeing solid current value growth for most of the review period, in 2020 vitamins is expected to see a strong increase in its growth rate. In addition to demand being supported by the ageing of the population, consumers have been seeking out vitamins to maintain better health in the hope of being able to avoid contracting COVID-19, or at least to have a better outcome if they do.
There have been developments in paediatric vitamins in terms of product variants, and formulae with different claims of high levels of specific vitamins or other ingredients, real fruit juice and DHA content. These include vitamins in jelly gummy or chewable tablet format, such as: LC Vit Junior Chewable Cereal Mixed Berry Flavored Tablet from Giffarine; products touting their calcium content for increasing height; Cholin Kids and Brainie Sweetcorn Flavored for brain function; Phyto Kids for children who do not eat vegetables; Beta Glu Kids for immune enhancement, Prebionie for easing constipation problems and LC Vit Junior eye supplement.
Direct selling player Amway (Thailand) is expected to continue to lead vitamins overall in value terms in 2020, thanks to its leadership in multivitamins, which remains the single biggest category within vitamins. In 2020 Amway launched the new product Nutrilite Double X PHYTO BLEND – a combination of vitamins, minerals and plant concentrates.
Vitamins is expected to see a year of particularly strong current value growth in 2020. Although in the forecast period the growth rates are expected to return to levels more reminiscent of those seen in the review period, they are expected to remain high.
It is expected that more brands could enter vitamins in the forecast period, with potential newcomers interested in the category due to the rising demand amongst local consumers, especially for multivitamins and single vitamins such as B and C. With more consumers becoming connected digitally, their purchasing behaviour is likely to become more sophisticated, as they increasingly access information on new product developments with better formulae, product reviews and health-related discussions on websites and social media platforms.
Personalised vitamins products and services are present in consumer health in Thailand, but this remains a very new development and they are still only available from clinics and hospitals. However, Vitaboost offers personalised vitamins with a home delivery service, including blood testing and consultation.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Thailand 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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