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Market Research Report
Consumer Health in Costa Rica |
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| Published by | Euromonitor International | Product code | 972706 | ||||
| Published | Content info | 91 Pages Delivery time: 1-2 business days |
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| Consumer Health in Costa Rica | ||
| Published: November 17, 2020 | Content info: 91 Pages |
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The main developments in consumer health in Costa Rica in 2020 as a result of COVID-19 are related to the sudden spike in the sales of vitamins and dietary supplements, particularly those associated to immunity responses. For example, echinacea has gained significant awareness amongst local consumers in 2020. COVID-19 resulted in shortages of vitamins as well as certain OTC analgesics at the onset of lockdown as consumers adopted stockpiling measures. This was particularly the case for vitamin C...
Euromonitor International's Consumer Health in Costa Rica report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data 2015-2019, allowing you to identify the sectors driving growth. Forecasts to 2024 illustrate how the market is set to change.
Product coverage: Allergy Care, Herbal/Traditional Products, OTC, Paediatric Consumer Health, Sports Nutrition, Vitamins and Dietary Supplements, Weight Management and Wellbeing.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
List OF CONTENTS AND TABLES
EXECUTIVE SUMMARY
COVID-19 impact on consumer health
COVID-19 country impact
Company response
Retailing shift
What next for consumer health?
MARKET INDICATORS
MARKET DATA
APPENDIX
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
DISCLAIMER
DEFINITIONS
SOURCES
KEY DATA FINDINGS
2020 IMPACT
Consumers begin to stockpile certain types of analgesics at the onset of lockdown in 2020, resulting in a temporary shortage
Sales begin to normalise in the second half of 2020 while major players turn to online marketing efforts to boost demand
International manufacturers lead in 2020 thanks to strong manufacturing capabilities and growing brand name recognition
RECOVERY AND OPPORTUNITIES
Availability and affordable pricing will continue to set the pace
Opportunity for development of private label at chained retailers
Combination products set to gain momentum due to increasing demand for targeted formulas
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
COVID-19 encourages preventative stockpiling measures in 2020, causing inventory shortages for cough remedies and combination products
The adoption of a preventative health approach strengthens the performance of combination products in 2020
International players continue to strengthen their positions due to their strong brand awareness and focus on product segmentation
RECOVERY AND OPPORTUNITIES
Development opportunity for combination products with proven antiviral effects over the forecast period
Preventative health approach will raise importance of functional ingredients and product efficacy
Segmentation allows players to reach a broader consumer base
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
COVID-19 has a moderate impact on digestive remedies, with most consumers prioritizing other consumer health categories related to immunity
Change in eating habits and increased levels of stress drive sales in 2020
New functional positioning with natural added ingredients ensures success of major global players in digestive remedies in 2020
RECOVERY AND OPPORTUNITIES
Rising consumer awareness and interest in digestive health ensures further growth throughout the forecast period
Natural proposals anticipated to rise
Consumer's integral health approach will encourage major players to focus on preventative digestive health
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Opposing forces impact dermatologicals, with the greatest effect in 2020 witnessed in changing spending patterns
Greatest impact of COVID-19 seen in topical germicidals/antiseptics
International players continue to dominate dermatologicals in 2020, with Bayer's Canesten brand leading the way
RECOVERY AND OPPORTUNITIES
New development opportunities lie in effective herbal-based dermatological proposals, with a specific focus on millennial buyers
More specialised topical germicidals/antiseptics offerings are expected in the forecast period as health authorities facilitate the increase in per capita consumption
Anticipated economic contraction increases potential for new economy and private label product launches
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Lockdown leads to decreased demand for wound care in 2020
Segmentation helps maintain growth in 2020
Major global manufacturers continue to lead in 2020, while local and regional players increase competition in gauze, tape and other wound care
RECOVERY AND OPPORTUNITIES
Additional levels of innovation are expected as manufacturers seek to provide affordable wound care proposals
Development of natural-based products with botanical extracts expected to gain momentum amongst millennial
Demand for complete wound care lines is anticipated to gain momentum
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
The surge in demand for vitamin C early in the pandemic results in inventory shortages from March to May 2020
Vitamins enjoy sustained growth in 2020 following the initial stockpiling behaviour
International players continue to lead in 2020, shifting to focus on expanding their e-commerce platforms
RECOVERY AND OPPORTUNITIES
Preventative health approach set to drive growth of vitamins over the forecast period
Online selling platforms and affordable alternatives set to gain momentum
Consumers will remain focused on boosting their immune responses
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Higher value growth in 2020 driven by consumer demand for immunity associated formulas
Major players respond to consumer demand by offering immunity packages in 2020
Ronav SA continues to lead in 2020, but competitive pressure mounts from GNC Costa Rica and direct players
RECOVERY AND OPPORTUNITIES
Immunity, energy and mood/anxiety claims set to drive growth over the forecast period
Potential approval of medical cannabis will influence new product development over the forecast period
New distribution opportunities anticipated over the forecast period
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Stagnant growth in 2020 a result of shifting consumer interest due to COVID-19
COVID-19 interrupts busy lifestyles that drove growth towards the end of the review period
While major players such as Herbalife struggle with low-demand in 2020, GNC Costa Rica SA benefitted from expanded distribution networks and continuous innovation
RECOVERY AND OPPORTUNITIES
Weight loss supplements anticipated to drive growth over the forecast period
Affordable positioning will gain relevance by consumers most impacted by the economic downturn
Added-value, herbal products that not only promote weight loss, but also support mood and energy levels will become increasingly appealing to consumers
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Sudden decrease in disposable income levels leads consumers to move sports nutrition to a secondary priority in 2020
Healthier home food shopping and preparation lower demand for additional sports nutrition support
GNC strengthens its lead in 2020 due to increased distribution and strong online selling platform
RECOVERY AND OPPORTUNITIES
Return to active lifestyles set to boost growth over the forecast period
Increasing segmentation and more specialised products expected to drive future sales
Private label developments and further development of online sales set to benefit future sales
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Demand for natural immunity oriented products drives growth in 2020
Consumers turn to natural alternatives to calm their anxiety levels and support better sleep
GNC and Ayurveda Centroamericana continue to lead in 2020, but local brands continue expanding their offers to compete
RECOVERY AND OPPORTUNITIES
Higher growth expected for herbal/traditional sleep aids over the forecast period as lives become more stressful
Potential for development of CBD products hinges on approval of medical cannabis
Local brands and direct sellers set to increase competition
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Natural proposals with immune support drive growth in 2020, although parents remain cautious of paediatric self-medication
School closures limit consumption opportunities for certain products
Major international players continue to dominate, leveraging their distribution capacities to reach more consumers
RECOVERY AND OPPORTUNITIES
New development opportunities in immune boosters and private label over the forecast period
Dynamic online selling platforms set to support growth over the forecast period
Preventative health approach drives interest in herbal/traditional remedies due to perceived safety
CATEGORY DATA
