While vitamins looks set to record another contraction in volume terms in 2024, the rate of decline should be significantly lower than in the previous two years as purchasing power among Hungarians starts to recover in line with an anticipated easing of inflationary pressures. Volume sales are then projected to return to positive territory in 2025 and increase steadily over the remainder of the forecast period.
After having witnessed the steepest declines over 2022-2023, vitamin D is expected to be by far the most dynamic performer in volume and current value growth terms over the forecast period. This category is particularly well placed to profit from population ageing and the preventive health trend, as in addition to being essential for strong bones and muscles, vitamin D has anti-inflammatory effects and plays a key role in regulating the immune system.
Unlike OTC medications containing active pharmaceutical ingredients, vitamins can still be sold online in Hungary. It is expected e-commerce will continue to gain importance as a distribution channel in this category over the forecast period, as having recently become more comfortable with online shopping due to changes resulting from COVID-19, many Hungarians now have a greater appreciation for the convenience, extensive range of choices and potential for better price deals this method affords.
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Understand the latest market trends and future growth opportunities for the Vitamins industry in Hungary 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 Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Vitamins
This report originates from Passport, our Vitamins research and analysis database.
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