Boston, MA -- (SBWIRE) -- 06/16/2014 -- Ukrainians are tightly bound to their historic trust in medical herbs which grow plentifully in the country. For centuries, the people have been accumulating knowledge of curing diverse diseases with herbs and plants. Even nowadays dried herbs are sold at bazaars, even though dozens of herbs are sold packaged in pharmacies.
Since many consumer health categories are involved in herbal/traditional products, the sector is another fragmented area with a big number of players competing for market shares. Bionorica GmbH was the biggest one in 2013, having gained a 7% share of retail sales value with its famous herbal-based portfolio. Along with consumers finding its products efficient overall, the company regularly resorted to advertising support of its flagship brands Sinupret, Bronchipret and Tonsipret (all in cough and cold remedies). Almost with the same 7% share, the leader was chased by Reckitt Benckiser Household & Healthcare Ukraine TOV, particularly famous for Strepsils, another frequent participant in advertisement campaigns.
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Over the forecast period herbal/traditional products is anticipated to be a growth area with value sales up by 20% in constant value terms in total between 2013 and 2018. Ukrainians are expected to continue being drawn by medicines with herbal ingredients, especially if preventative medication is expected to be on the rise and drugs with fewer side effects will be preferred. The dynamics are expected to be higher than over the review period when sales advanced just by 13% (the peak of the crisis in 2009 had a negative effect on sales) as assortments of such products are likely to grow with manufacturers meeting shifting consumer preferences.
Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Ukraine 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 Ukraine, our research will save you time and money while empowering you to make informed, profitable decisions.
The Herbal/Traditional Products in Ukraine 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
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