Church & Dwight Chews On Strong Growth For Vitafusion As Consumers Stick To Category
Vitafusion gummy vitamins had 24% consumption growth in Q3 and Zicam homeopathic cold remedies had 40%. Church & Dwight plans to increase prices on 80% of portfolio by the end of the 2022 Q1.
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Cost increases initially spurred by supply chain disruptions by COVID-19 pandemic have been noted by businesses across consumer product industries since soon after novel coronavirus spread accelerated in early 2020. More recently, OTC drug, nutritional supplement and personal care product providers began noting inflation’s influence on costs.
Church & Dwight anticipates 15% growth for TheraBreath mouthwash brand in 2022 on larger sizes and wider distribution, especially outside US. It plans to acquire the firm for around $580m cash and close the deal before end of year
“We expect higher input costs and transportation costs to remain elevated for the rest of the year,” says CEO Matthew Farrell. Firms lowers full-year outlook for net sales growth from previous range of 5% to 6% to around 5%.