SECTOR CAPSULE: VITAMINS IN COLOMBIA

10 October 2023

KEY DATA FINDINGS

Retail value sales grow by 1% in current terms in 2023 to COP313 billion
Multivitamins is the best performing category in 2023, with retail value sales growing by 3% in current terms to
COP224 billion
JGB SA, Laboratorios is the leading player in 2023, with a retail value share of 19%
Retail sales are set to grow at a current value CAGR of 7% (2023 constant value CAGR of 4%) over the forecast
period to COP442 billion

Market size Vitamins

Retail Value RSP - COP billion - 2009-2028
312
Forecast
500

400

300

200

100

0
2009 2023 2028
Source: Passport by Euromonitor International

Sales Performance Vitamins

%Y-O-Y Retail Value RSP-Growth 2009-2028
0.8%
Forecast
60%

40%

20%

0%

-20%

-40%

-60% 2009 2023 2028

Source: Passport by Euromonitor International

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 2023 DEVELOPMENTS
After the COVID-19 crisis, the demand for vitamins shrunk. With a significant reduction in COVID-19 cases and less
severe disease, consumers withdrew their attention from vitamins, especially those that they did not have the habit of
regularly consuming before the pandemic. Coupled with the loss of interest, another important reason to drop vitamins is
the impact of high inflation on consumers' budgets. As the threat from COVID-19 diminished and consumers became
more budget conscious, prevention lost relevance, and, instead, Colombians became reactive, focusing on purchasing
products that provide relief. Nevertheless, sales of vitamins remain at higher levels than seen immediately before the
outbreak of COVID-19.
It is widely recognised that, in Colombia, discounters have become one of the preferred channels for consumers
across all income segments. Despite the generally high rate of inflation, discounters’ prices remain competitive compared
to other retail channels, and the range of products on offer is constantly evolving and expanding across different
categories. The popularity of discounters has also caught the attention of companies, which have recognised it as a crucial
channel that contributes to driving sales of their products. Vitamins are no exception to this general trend, and, at D1,
well-liked brands like Tarrito Rojo JGB, Cebion, and Emulsion de Scott are yielding positive results for their respective
companies, making discounters the fastest-growing channel. Other companies, such as Procaps, have also entered the
market and developed smaller presentations of 10 capsules at a more affordable price than the traditional presentations
of 30 or more capsules. Some of the vitamins offered by Procaps include a multivitamin, B complex, and vitamin D + grape
extract, amongst others.

Company Shares of Vitamins

% Share (NBO) - Retail Value RSP - 2023

GlaxoSmithKline Colombia ... 18.16%

Tecnoquímicas SA 13.62%
Procaps SA, Laboratorios 9.89%
Procter & Gamble de Colom... 7.08%
Bayer de Colombia SA 4.68%
HLF Colombia Ltda 4.37%
Amway Colombia SA 2.96%
Others 20.49%

Increasing share Decreasing share No change

Source: Passport by Euromonitor International

NATIONAL BRAND OWNERS TABLE

Company Name (NBO) Brand (GBO)
Amway Colombia SA Nutrilite (Amway Corp)
Bayer de Colombia SA Redoxon (Bayer AG)
Biogen de Colombia SA,
Vitabion (Grünenthal GmbH)
Laboratorios
GlaxoSmithKline Colombia SA Centrum (Haleon plc), Z-bec (Haleon plc)
Healthy America Colombia SAS Healthy America Colombia Vitamina E (Healthy America Colombia SAS)
HLF Colombia Ltda Herbalife Nutrition (Herbalife Nutrition Ltd)
Innovate Nutrition SAS Solgar (Nestlé SA)
IPEF Ltda Sundown Naturals (Nestlé SA)
JGB SA, Laboratorios Kola Granulada JGB (JGB SA, Laboratorios)
Laboratorios Funat Ltda Vitasource (Laboratorios Funat Ltda)
Laboratorios Genéricos
Genfar Complejo B (Sanofi), Genfar Vitamin C (Sanofi)
Farmacéuticos SA
Kola Granulada Complejo B (Laboratorios Lister SA), Lister Vitamina C (Laboratorios
Laboratorios Lister SA
Lister SA)

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 Nature's Sunshine Products de
Nature's Sunshine (Nature's Sunshine Products Inc)
Colombia SAS
Dual C Mix (Omnilife SA de CV, Grupo), Fem (Omnilife SA de CV, Grupo), Homo
Omnilife Manufactura de Colombia
(Omnilife SA de CV, Grupo), Newghurt (Omnilife SA de CV, Grupo), One Per Meal
Ltda
(Omnilife SA de CV, Grupo)
Oriflame de Colombia SA Oriflame (Oriflame Cosmetics SA)
Aquasol E (Procaps SA, Laboratorios), B-vit (Procaps SA, Laboratorios), Lemovit C
Procaps SA, Laboratorios (Procaps SA, Laboratorios), Procaps Vitamina E (Procaps SA, Laboratorios),
Rainforest (Procaps SA, Laboratorios)
Procter & Gamble de Colombia SA Cebion (Procter & Gamble Co, The)
Kola Granulada MK (Tecnoquímicas SA), Vitafull MK (Tecnoquímicas SA), Vitamina
Tecnoquímicas SA
MK (Tecnoquímicas SA)
Usana Health Sciences Colombia
USANA (USANA Health Sciences Inc)
SAS
Source: Passport by Euromonitor International

DEFINITIONS AND METHODOLOGY

VITAMINS
This is the aggregation of multivitamins and single vitamins.
METHODOLOGY
This report is derived from Euromonitor International’s Passport information system. Industry research is carried out by a
global team of more than 600 in-country analysts and is based on a core set of research techniques:

National-level desk research, company research and analysis, store checking, trade interviewing with national
players and market analysis
International-level desk research, multinational company research and analysis, trade interviewing with
international players and market analysis

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