The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreJan 2015
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High growth is the hallmark of emerging economies. This report identifies the most successful strategies for health and wellness companies wishing to operate in these markets, which, owing to the rapidly increasing incidence of chronic disease, are not so different from developed markets in terms of consumer concerns. For HW players to succeed, however, in-depth local knowledge is vital. This report follows on from Corporate Strategies in Health And Wellness – Focus: Developed Markets.
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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.
While growth in developed health and wellness markets plateaus, growth in emerging markets is gathering pace and set to account for 49% of sales in 2019, up from just 28% in 2002. This growth is being driven by several factors, including rising disposable incomes and a rocketing incidence of chronic disease.
Naturally healthy is the most popular category in both emerging and developed markets. Fortified/functional products find it much easier to justify their premium prices compared to organic, which remains niche. Food intolerance products, also a niche category so far, are starting to find an audience.
While developed markets serve as test beds for sophisticated health and wellness products that will soon be in demand in emerging economies, the latter are rich picking grounds for the next generation of superfoods and health and wellness ingredients, as was the case with stevia, quinoa and chia seeds, which originated from Latin America.
Local players are becoming increasingly important, particularly in emerging markets, where many domestic companies are driving growth. No one company features among the winning brands in both developed and emerging markets. Local players are adept at leveraging their advantages in terms of knowing their local consumer base’s taste preferences and health concerns, as well as the local retail network.
Global players need local knowledge to gain a firm foothold in emerging markets, while small local players can benefit greatly from strategic partnerships forged with large companies.
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.