Consumer health in Finland recorded stable current value growth in 2019, driven by the positive performances of larger categories (in value terms) of vitamins and dietary supplements and sports nutrition. An increasing interest in health and wellness with a focus on prevention, has been supported by positive consumer sentiment despite the Finnish economy slowing in 2019.
Finland has the strictest OTC regulation amongst Nordic countries with approximately one tenth of all drugs sold in Finland being classified as OTC. Many of these products can only be sold through chemists/pharmacies.
Consumer health in Finland remained highly fragmented in 2019 led by local player Orion Oyj which offers a wide portfolio in both OTC and non-OTC categories and was the only player apart from the second-ranked GSK Consumer Healthcare to hold double-digit value share. However, the leader continued to lose ground to increasing competition within the market in the form of smaller players which continued to enter consumer health towards the end of the review period.
While chemists/pharmacies continued to be the leading distribution channel of overall consumer health in 2019, due to its dominance of OTC and the restrictive legislation attached to certain OTC status products, there was a notable shift towards modern grocery retailers and internet retailing in other strongly performing categories including vitamins and dietary supplements, sports nutrition, and NRT smoking cessation aids. Modern grocery retailers offer consumers convenience when doing their weekly shopping, while the growing popularity of internet retailing is supported by its ability to offer a wide range of products that may not be available across all store-based retailers and greater affordability.
Although the local economy is not predicted to be as positive from 2020 as it was towards the end of the review period, the outlook for consumer health remains positive. Improving performances are predicted for a number of categories including analgesics, cough, cold and allergy (hay fever) remedies, and wound care, while sports nutrition and vitamins and dietary supplements are predicted to remain popular, driven by the health and wellness trend and the increasing popularity of self-care.
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This industry report originates from Passport, our Consumer Health market research database.