Vitamins and Dietary Supplements
Total report count: 3
Total report count: 3
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Sales in Latin America went into decline in real value terms in 2022, although this was understandable, given the strong growth seen during the pandemic, particularly in 2020, when consumers had been actively seeking out immunity-boosting products.. In spite of the difficult economic environment due to local and global inflationary pressures, the 2022 decline is expected to be a one-off, with healthy annual growth rates expected in the region from 2023.
Vitamins and dietary supplements is an area of consumer health that has been doing well during the pandemic. People have been trying to look after their health with the Coronavirus (COVID-19) at large, for example seeking out immunity-boosting products such as vitamin C or ginseng. With health and wellness remaining important for consumers, sales will continue to grow over the forecast period in Asia Pacific.
The older consumer segment is growing rapidly globally, driving the need for genuine innovation to cater to older adults’ evolving and diverse demands. Older consumers are also becoming more important in the digital sphere, given their rising tech adoption. Recent innovation trends in industries such as education, e-commerce, home and tech, food and beauty and health have shown that innovating for older consumers could be one of the most compelling investments for future success.
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