PROSPECTS AND OPPORTUNITIES
Desire for more natural remedies to fuel sales of herbal/traditional products
Herbal/traditional products is poised to benefit from a recovery of the Hungarian economy over the forecast period, with steady growth in both value and volume terms. Sales should gradually pick up as inflationary pressures ease and purchasing power improves.
Innovation and promotional efforts to rise in herbal/traditional products
The growing demand for herbal/traditional products will result in higher levels of innovation and wider product availability as retailers seek to meet consumer demands. Improved efficacy, together with new formats and packaging, will be the primary focus for manufacturers when developing new products.
Further distribution gains projected for retail e-commerce
Retail e-commerce will continue to gain importance as a distribution channel in herbal/traditional products over the forecast period. This category has not been affected by legislation enacted in 2022 that effectively prohibits anyone other than licensed pharmacists from offering home delivery of OTC medications containing active pharmaceutical ingredients in Hungary.
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Overview:
Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Herbal/Traditional Products industry in Hungary, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Herbal/Traditional Products in Hungary report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Herbal/Traditional Products in Hungary?
- Which are the leading brands in Herbal/Traditional Products in Hungary?
- How are products distributed in Herbal/Traditional Products in Hungary?
- How has the regulatory and operating environment for Herbal/Traditional Products changed in Hungary?
- How are considerations such as stress, self-medication and shifting consumer lifestyles shaping demand for Herbal/Traditional Products
- How significant are wider health concerns and consumer awareness in determining sales?
- Where is future growth expected to be most dynamic?
Herbal/Traditional Products in Hungary - Category analysis
KEY DATA FINDINGS
Herbal/traditional products report lower sales growth
Mondelez Hungária Kft remains the leading player in a fragmented competitive landscape
Herbal/traditional products is most developed in cough, cold and allergy (hay fever) remedies
Desire for more natural remedies to fuel sales of herbal/traditional products
Innovation and promotional efforts to rise in herbal/traditional products
Further distribution gains projected for retail e-commerce
Consumer Health in Hungary - Industry Overview
Consumer health in 2024: The big picture
2024 key trends
Competitive landscape
Retailing developments
What next for consumer health?
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
DISCLAIMER
DEFINITIONS
The following categories and subcategories are included:
Herbal/Traditional Products
- Herbal/Traditional Topical Analgesics
- Herbal/Traditional Sleep Aids
- Herbal/Traditional Cough, Cold and Allergy (Hay Fever) Remedies
- Herbal/Traditional Digestive Remedies
- Herbal/Traditional Dermatologicals
- Herbal/Traditional Paediatric Dietary Supplements
- Herbal/Traditional Dietary Supplements
- Herbal/Traditional Tonics
Herbal/Traditional Products
Botanicals or traditional remedies are products that have a long tradition of use, decades of established reputation, and are considered alternative remedies to standard medicine. Traditional medicine remedies such as Ayurveda, Traditional Chinese Medicine (TCM), Unani, Kampo, etc. are included. Homeopathic remedies are excluded. Only packaged products are tracked.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Herbal/Traditional Products research and analysis database.
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