PROSPECTS AND OPPORTUNITIES
Anticipated recovery in demand as the cost-of-living crisis abates
As the cost-of-living crisis begins to ease in the second half of 2024, and price rises begin to slow, a gradual strengthening of retail volume growth is expected over the course of the forecast period. The easing of financial pressures is expected to increase consumers’ spending power, enabling them to allocate more funds towards discretionary and non-essential products.
Opportunity for hyperpersonalised solutions in vitamins
As consumer preference shifts towards more tailored health and wellness options, there is expected to be growing demand for vitamins that address specific individual needs. This trend will be driven by increasing health awareness and a desire for customised health solutions that cater to consumers’ personal health goals and conditions.
Vitamins is poised to encounter growing competition from functional wellness products
Despite the fact that vitamins are evolving to incorporate value-added ingredients that blur the distinction between multivitamins and combination dietary supplements, traditional vitamins are facing significant competition from functional wellness products. The forecast period is expected to see intensified rivalry as functional wellness products gain traction across various industries in New Zealand.
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Overview:
Understand the latest market trends and future growth opportunities for the Vitamins industry in New Zealand 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 New Zealand, 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 New Zealand 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 New Zealand?
- Which are the leading brands in Vitamins in New Zealand?
- How are products distributed in Vitamins in New Zealand?
- How has the regulatory and operating environment for Vitamins changed in New Zealand?
- 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 New Zealand - Category analysis
KEY DATA FINDINGS
Price rises drive value growth, while volume growth is weak amidst ongoing cost-of-living crisis
Multivitamins shifts from a generalised to a personalised approach, concentrating on specific health concerns
Vitamins embrace an enjoyable consumption experience
Anticipated recovery in demand as the cost-of-living crisis abates
Opportunity for hyperpersonalised solutions in vitamins
Vitamins is poised to encounter growing competition from functional wellness products
Consumer Health in New Zealand - 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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