Boston, MA -- (SBWIRE) -- 06/18/2014 -- Aside from the competitive prices that herbal/traditional products usually sell at, they are likewise preferred by consumers due to the belief that they are safer alternatives to chemical-based remedies. Products derived from natural ingredients bear the image of providing more benefits than harm to one's health, consequently facilitating trial of new product launches amongst consumers.
Universal Robina Corp remained the leader in herbal/traditional products with a 44% value share in 2013. The company's dominance was driven by the lead of its Maxx brand in medicated confectionery. With the product being distributed even through sari-sari stores or local neighbourhood stores, it enjoys popularity amongst consumers not just as a remedy for sore throat but also as a hard menthol candy which can be consumed at one's pleasure. The product likewise is available in several flavour variants, is affordably priced and can be bought even amongst peddlers, all of which contribute to its wide patronage amongst consumers.
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Consumer preference for herbal/traditional products is expected to be sustained and grow over the forecast period amidst the growing awareness of the harms of chemical ingredients to one's health. New product launches containing ingredients traditionally used for curing illnesses are expected to be well received in the market. Those containing novel herbal ingredients, on the other hand, may raise doubts amongst consumers on their effectiveness or safety, leading to reservations on their trial.
Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Philippines with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Herbal/Traditional Products industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.
The Herbal/Traditional Products in Philippines market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- What is the market size of Herbal/Traditional Products in Philippines?
- What are the major brands in Philippines?
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