PROSPECTS AND OPPORTUNITIES
Further gains over the forecast period, in line with growing consumer awareness and acceptance of natural remedies
Herbal/traditional products is expected to see steady retail current value growth in New Zealand over the forecast period, as a growing number of consumers show an interest in alternative remedies to cure long-term and short-term health issues. This trend will be particularly evident for herbal/traditional sleep aids and herbal/traditional analgesics, which are categories in which standard products are perceived to carry potential side-effects, especially if used over a prolonged period.
Increased competition expected as consumers gravitate towards herbal/traditional alternatives
As New Zealanders increasingly shift towards more natural alternatives, herbal/traditional products is expected to attract more players. With the increased competition, companies are likely to forge strategic partnerships with major retailers to secure prominent shelf space, and effectively market their products, including via social media, to capture consumers’ attention.
Herbal/traditional sleep aids expected to continue to see the strongest growth over the forecast period
Herbal/traditional sleep aids is expected to remain the strongest performing category in herbal/traditional products over the forecast period in retail current value terms, largely due to the escalating incidence of sleep disorders amongst the local populace. Although concerns about COVID-19 have passed, New Zealanders are now grappling with fresh sources of anxiety, ranging from the escalating cost of living to global conflicts.
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Overview:
Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in New Zealand 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 New Zealand, 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 New Zealand 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 New Zealand?
- Which are the leading brands in Herbal/Traditional Products in New Zealand?
- How are products distributed in Herbal/Traditional Products in New Zealand?
- How has the regulatory and operating environment for Herbal/Traditional Products changed in New Zealand?
- 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 New Zealand - Category analysis
KEY DATA FINDINGS
Further growth for herbal/traditional products
Local players leverage the growing consumer preference for sustainable products
Sleep aids remains the strongest performer within herbal/traditional products
Further gains over the forecast period, in line with growing consumer awareness and acceptance of natural remedies
Increased competition expected as consumers gravitate towards herbal/traditional alternatives
Herbal/traditional sleep aids expected to continue to see the strongest growth over the forecast period
Consumer Health in New Zealand - 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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