Health and beauty specialists registered current value growth in 2021, though growth was lower than in 2020. This was due to growth for its largest channels chemists/pharmacies being lower than for the previous year, as consumers were less concerned about COVID-19 and reduced spending on health products.
Apotekarska Ustanova continued to lead the competitive landscape in 2021, but continued to lose value share to its nearest competitors, Lilly Drogerie and dm-Drogerie Markt. Both of them expanded rapidly over the review period and Lilly continued to do so in 2021, while dm saw a decline in the number of its outlets in 2021.
Beauty specialist retailers had a strong rebound in 2021, after a dismal trading year in 2020, when there was a decline in value sales. With outlets fully opened once again, customers could browse and shop in brick-and-mortar outlets.
Health and beauty specialists will register moderate value and volume growth over the forecast period. With society opening up, consumers will be keen to spend money in particular on beauty products and eyewear once again.
Optical goods will register the highest growth, as consumers like to update their eyewear frequently and keep up with fashion trends. Also, part of the reason for the higher growth is that value sales are relatively low and so there is significant growth potential.
The health and wellness trend is set to gather pace in response to the pandemic and this could benefit vitamins and dietary supplements speciality retailers. Currently there are only a few such outlets in Serbia, with such products usually sold through chemists/pharmacies.
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Understand the latest market trends and future growth opportunities for the Health and Beauty Specialist Retailers industry in Serbia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of chemists/pharmacies, drugstores/parapharmacies, beauty specialist retailers, optical goods stores and other healthcare specialist retailers.See All of Our Definitions
This report originates from Passport, our Health and Beauty Specialist Retailers research and analysis database.
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