PROSPECTS AND OPPORTUNITIES
Evolving demographics will boost demand for herbal/traditional topical analgesics
The market for herbal and traditional products in Singapore is poised for continued growth, with topical analgesics leading the way. The ageing population, particularly those aged 65 and over, will play a significant role in this expansion.
Herbal/traditional dietary supplements will benefit from holistic approach to health
As Singaporean consumers increasingly prioritise holistic health, demand for herbal and traditional dietary supplements is expected to remain strong. Many consumers favour traditional remedies over "Western" options due to their familiarity with the ingredients, which have been passed down through generations.
Players will need to address consumer concerns over safety and transparency
Recent incidents have heightened consumer concerns regarding the safety and transparency of herbal and traditional products in Singapore. The Health Sciences Authority (HSA) has stepped up to issue advice to consumers, emphasising the need for careful use of these products, particularly those used for pain relief and cough management.
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Overview:
Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in Singapore 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 Singapore, 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 Singapore 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 Singapore?
- Which are the leading brands in Herbal/Traditional Products in Singapore?
- How are products distributed in Herbal/Traditional Products in Singapore?
- How has the regulatory and operating environment for Herbal/Traditional Products changed in Singapore?
- 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 Singapore - Category analysis
KEY DATA FINDINGS
Local consumers’ trust in traditional/herbal remedies remains high
Topical analgesics leads growth
Eu Yan Sang and Hockhua Tonic provide gateway to traditional products
Evolving demographics will boost demand for herbal/traditional topical analgesics
Herbal/traditional dietary supplements will benefit from holistic approach to health
Players will need to address consumer concerns over safety and transparency
Consumer Health in Singapore - 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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