Dermatologicals in Spain

PROSPECTS

A stronger economy is not enough to generate higher growth

The recovery of the Spanish economy continued in 2018, and with it the attitude of Spaniards towards spending. As the employment rate recovers and average disposable incomes with it, Spaniards are trading up from private label and mass branded products to more-premium versions.

Ageing population influences the category at both ends

The Spanish population pyramid has turned upside down as the population ages and the number of babies continues to decline. Spanish life expectancy reached 83 years old at the end of 2017, with Spain having the highest life expectancy within the OECD aside from Japan.

Climate to shape forecast projections

Albeit some voices claim the contrary, climate change is here to stay and with it are the unpredictable consequences of having milder winters and hotter summers. According to the European Agency for the Environment, Spain, along with other southern European countries, is set to be amongst the countries suffering the most from climate change consequences in the coming years.

COMPETITIVE LANDSCAPE

Fragmentation defines the competitive landscape

Dermatologicals is a relatively fragmented category, with the leader, Almirall, consolidating its sales in 2018. The company was followed by Meda Pharma, Reckitt Benckiser España and Bayer Hispania.

Activity within antiparasitics/lice treatments

Within dermatologicals, one of the categories that is focused on by companies is antiparasitics/lice treatments. Most companies active in the category periodically launch TV campaigns to promote their ranges of products.

Private label consolidates its position

Private label consolidated its share of dermatologicals in 2018, thanks primarily to strong positioning within nappy (diaper) rash treatments, in which the general segmentation of the private label offer has encouraged demand for more-upmarket products with a natural positioning, as well as benefiting from private label’s established price-competitiveness.

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