Although the consumption rate of food complements per capita is low, 3.5 euor/year, the growth pace of the local market in the past few years and of food complements will register a break-even annual result at the most, due to financial crisis.
“In 2008, the value of food complement market rose 17%, in pharmacies reaching to nearly 60 million euro without VAT, and 100 million euro with VAT. This year, the best case scenario is a stagnation of the market and a possible decline”, Catalin Vicol (photo) managing director of Walmark Romania (21.7 market share in 2008) told Wall-Street.
Walmark representative said the small companies and newcomers would take the heaviest loss. “At this point, there are 80 companies in food complement market in Romania, but in 2009 I think the small and inexperienced players will take a full-fledged blow of the economic crisis”, he said.
Despite these forecasts, Vicol remains optimistic on Walmark’s evolution in Romania. “For 2009, we expect a 12-15% growth in lei, which would boost our market share up to 25%. However, it will heavily depend upon the macroeconomic factors, which we cannot control”, said the head of Walmark Romania, company with a roughly 17 million euro turnover in 2008, up 20% from the year-ago period.
Some of the best-sold products in 2008 were ArhtroStop, designed for protection and regeneration of joints which geared 20-30% of last year’s turnover, GinkoPrim which improves the blood flow, brain functions, concentration and memory, Varixinal that fights against chronic vessel insufficiency, Martians vitamins for the protection of children against bacterial and viral diseases and for the strengthening and stimulation of their immunity system or Prostenal, recommended for problems with the prostate, the company selling over 4 million products last year.
In order to achieve these objectives, Wal