The Consumer Health industry is about to boom after COVID | So Good News
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In this blog, we try to share ideas about the positive effects this change will have on the self-care industry and what challenges the industry will face in the next 2-3 years!
The consumer health industry has been extremely resilient over the last three years of COVID-19. Growth did not slow down even during the peak of the epidemic when groups like Vitamins, minerals and supplements (VMS) stepped in to protect against Cold/Flu and Pain, during lockdowns and conflicts.
As countries and retailers begin to return to normal in mid-2021, the growth of the overall consumer health market will be higher than before the pandemic. As of MAT Q2 2022, the industry is tracking +11.3% value growth (Exhibit 1) and is poised to continue growing +6% over the next 5 years. In 2022, we also see positive effects of inflation and lower demand from previous years. These effects will begin to decrease from Q4 2022.
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