The COVID-19 pandemic outbreak has had a significant impact on various industries, with the Vitamins industry being no exception. However, in contrast to other industries, COVID-19’s effect on the Vitamins industry has been surprisingly positive, with a significant increase in demand for immune-boosting products, especially Vitamin D, also known as the ‘sunshine’ Vitamin. Moreover, as South Africa awaits the roll-out of the COVID-19 vaccine, consumers have been increasingly seeking immune-boosting products to mitigate the risk of contracting the virus.
Insight Survey’s latest South African Vitamins Industry Landscape Report 2021, carefully uncovers the global and local Vitamins market (including the impact of COVID-19), based on the latest intelligence and research. In particular, it describes the latest global and local market trends, innovation and technology, drivers and challenges, to present an objective insight into the South African Vitamins industry environment and its future.
Globally, the Vitamins market was estimated to be worth approximately US$5.4 billion in 2020. Furthermore, as per the graph below, the global Vitamins market value is forecast to increase by a compound annual growth rate (CAGR) of 6.1%, to reach approximately US$8.2 billion by 2027. The growth of the global Vitamins market is set to be driven by an increased focus on health and wellness, along with a predicted increase in demand for immune-boosting Vitamins, such as Vitamins C and D, due to its reported benefits in fighting COVID-19 and other diseases.
Source: GIIResearch. Graphics by Insight Survey
Similarly to the global context, the South African Vitamins market is set to experience strong future growth, driven by the COVID-19 pandemic in the short-term, and increased health and wellness awareness in the longer-term. As a result, the market is predicted to continue to grow at a CAGR of 8.6% for the forecast period, 2021 to 2025. This is evidenced by Dis-Chem and Clicks both reporting a boost in demand for, and sales of, preventative healthcare and immunity-building Vitamins and supplements.
This demand has been particularly focused on the increased purchase of Vitamin C, Vitamin D, and Multivitamins, as more consumers have attempted to improve their immunity during the COVID-19 pandemic. In addition, recent research studies have linked Vitamin D deficiency to more severe cases of COVID 19, as countries with people with lower levels of Vitamin D witnessed higher rates of severe COVID 19 cases and deaths.
To capitalise on the current focus on immunity, industry players have introduced new and innovative products, to meet consumer needs. One such example is Pharma Dynamics’s new immunity-focused ‘BOOST’ range, an extension of the company’s efferflu-C IMMUNE BOOSTER product. This range consists of three new products, namely MAGBOOST, ENERBOOST, and DAILYBOOST, which are all aimed at assisting the body’s natural ability to remain strong and healthy.
Furthermore, BIOMEDCAN has released its CBD IMMUNE BOOST CAPSULES, which is a Multivitamin and mineral supplement that also offers the additional benefits associated with cannabidiol (CBD). This product assists with boosting the immune system, by supporting the body’s natural defence against viral infections, which is particularly desirable for those looking to avoid contracting COVID-19.
The South African Vitamins Industry Landscape Report 2021 (120 pages) provides a dynamic synthesis of industry research, examining the local and global Vitamins industry (including the impact of COVID-19) from a uniquely holistic perspective, with detailed insights into the entire value chain – from key global and South African market trends, innovation and technology, drivers, and challenges, as well as manufacturer, distributor, retailer, and pricing analysis.
Some key questions the report will help you to answer:
- What are the current market dynamics of the global and South African Vitamins industry?
- What are the latest global and South African Vitamins industry trends, innovation and technology, drivers, and challenges?
- What are the market value and volume trends in the South African Vitamins industry (2015-2020) and forecasts (2021-2025), including the impact of COVID-19?
- Who are the key manufacturers, distributors, and retail players in the South African Vitamins industry?
- What are the prices of popular Vitamin brands and products across South African retail outlets and pharmacies?
Please note that the 120-page full report is available for purchase for R27,500.00 (excluding VAT). Alternatively, individual sections can be purchased for R12,500.00 (excluding VAT). For additional information simply contact us at firstname.lastname@example.org or directly on (021) 045-0202 or (010) 140- 5756.
For a full brochure please go to: South African Vitamins Industry Landscape Brochure 2021
About Insight Survey:
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