PROSPECTS AND OPPORTUNITIES
Multivitamins likely to see a recovery in consumer demand
As consumers continue to adjust to the post-pandemic landscape, there is a potential for renewed interest in multivitamins. With a growing focus on overall wellness and preventive health, multivitamins are likely to remain a go-to for those looking for a simple, all-in-one solution to maintain their health.
Personalised and targeted health solutions will capture consumer interest
As consumers become more health-conscious and informed about how to support their health, they will increasingly look for vitamins and supplements that address specific health needs rather than just opting for general multivitamins. This trend is driven by a desire for more effective and tailored health products, with a focus on single vitamins like Vitamin D for immune support or Omega-3 for heart health.
Innovation will be crucial to brand differentiation
With the competitive landscape becoming more crowded in vitamins, innovation will be crucial for companies aiming to stand out. This could involve introducing new delivery methods, such as chewable vitamins, soluble powders or sprays, as well as formulations that combine multiple benefits in a single product, appealing to the convenience-driven consumer.
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Overview:
Understand the latest market trends and future growth opportunities for the Vitamins industry in Latvia 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 Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Vitamins in Latvia report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Vitamins in Latvia?
- Which are the leading brands in Vitamins in Latvia?
- How are products distributed in Vitamins in Latvia?
- How has the regulatory and operating environment for Vitamins changed in Latvia?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Vitamins
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Vitamins in Latvia - Category analysis
KEY DATA FINDINGS
Consumers are more selective in vitamin purchases
Vitamin D sales decline but consumption levels are still high by historic standards
Private label attracts price sensitive shoppers
Multivitamins likely to see a recovery in consumer demand
Personalised and targeted health solutions will capture consumer interest
Innovation will be crucial to brand differentiation
Consumer Health in Latvia - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Vitamins
- Multivitamins
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- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin E
- Other Single Vitamins
Why buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Vitamins research and analysis database.
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