Executive Summary

Sep 2019
PROSPECTS
Deep cultural roots boost demand for herbal/traditional products

Bolivia is a country with many cultural traditions, passed from generation to generation. One of these is traditional natural medicine, which is still used by a significant percentage of the population.

Awareness maintained by government support for traditional medicine

Seeking to promote growth and regulate the field of traditional natural medicine, the government launched the Single Registry of Traditional Bolivian Ancestral Medicine (Rumetrab) in 2017. Through the introduction of a registry for professional practitioners of traditional medicine, the government intends to ensure quality and monitor the quantity of providers of traditional medicine and differentiate them from other types of doctors.

Distribution dominated by small and medium-sized operators

Sales of local herbal/traditional products are driven by small and medium-sized enterprises, which take advantage of the country’s broad availability of herbal raw materials in their productive processes. These players utilise ingredients such as wira, eucalyptus, chia, amaranth, maca, guarana and quinoa, among several others.

COMPETITIVE LANDSCAPE
Widespread direct selling network key to reaching customers

Traditionally, locally produced herbal/traditional products have been concentrated in areas such as topical analgesics, sleep aid products and digestive remedies. With the entry of imported global brands, the category saw strong value growth, primarily focused on herbal/traditional vitamins and dietary supplements, a segment not significantly addressed by local production.

Production to be boosted by both state and private investment

Increasing consumption of natural products is attracting private and state investment in manufacturing facilities for herbal/traditional medicines. Laboratorios Hahnemann operates a pharmaceutical plant with a specific line of natural products, comprising more than 150 remedies, including anti-inflammatory, energetic, relaxing and antioxidants in tablet, drop, spray, sachet and gel formats.

Product preferences vary by distribution channel

Distribution channels for herbal/traditional products are specialised according to type of product and consumer profile. Herbal/traditional remedies rely primarily on health shops and pharmacies, while the herbal/traditional vitamins dietary supplements category focuses on the direct selling channel.

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Herbal/Traditional Products in Bolivia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Bolivia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Herbal/Traditional Products industry in Bolivia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Herbal/Traditional Products in Bolivia market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Herbal/Traditional Products in Bolivia?
  • What are the major brands in Bolivia?
  • What is the market size of Herbal/Traditional Products in Bolivia?
  • What are the major brands in Bolivia?
  • Are Ayurvedic or Traditional Chinese Medicine products available in Bolivia?
  • Which traditional products, like charcoal, bird’s nest, camphor, valerian, or menthol, are popular?

Why 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 industry report originates from Passport, our Consumer Health market research database.

Herbal/Traditional Products in Bolivia - Category analysis

HEADLINES

PROSPECTS

Deep cultural roots boost demand for herbal/traditional products
Awareness maintained by government support for traditional medicine
Distribution dominated by small and medium-sized operators

COMPETITIVE LANDSCAPE

Widespread direct selling network key to reaching customers
Production to be boosted by both state and private investment
Product preferences vary by distribution channel

CATEGORY DATA

Table 1 Sales of Herbal/Traditional Products: Value 2014-2019
Table 2 Sales of Herbal/Traditional Products: % Value Growth 2014-2019
Table 3 NBO Company Shares of Herbal/Traditional Products: % Value 2015-2019
Table 4 LBN Brand Shares of Herbal/Traditional Products: % Value 2016-2019
Table 5 Forecast Sales of Herbal/Traditional Products: Value 2019-2024
Table 6 Forecast Sales of Herbal/Traditional Products: % Value Growth 2019-2024

Consumer Health in Bolivia - Industry Overview

EXECUTIVE SUMMARY

Moderate economic recovery boosts consumer health market
Health and wellness trend fuels consumer health demand
Consumers continue to prefer higher quality imported brands
Pharmacy chains continue to gain OTC medicine distribution share
Demand fuelled by improving economy and rising consumer purchasing power

MARKET INDICATORS

Table 7 Consumer Expenditure on Health Goods and Medical Services: Value 2014-2019
Table 8 Life Expectancy at Birth 2014-2019

MARKET DATA

Table 9 Sales of Consumer Health by Category: Value 2014-2019
Table 10 Sales of Consumer Health by Category: % Value Growth 2014-2019
Table 11 NBO Company Shares of Consumer Health: % Value 2015-2019
Table 12 LBN Brand Shares of Consumer Health: % Value 2016-2019
Table 13 Distribution of Consumer Health by Format: % Value 2014-2019
Table 14 Distribution of Consumer Health by Format and Category: % Value 2019
Table 15 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 16 Forecast Sales of Consumer Health by Category: % Value Growth 2019-2024

APPENDIX

OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches

SOURCES

Summary 1 Research Sources