Executive Summary

Oct 2019
PROSPECTS
Herbal/traditional tonics continues to negatively affect overall herbal/traditional products growth

Herbal/traditional tonics once again recorded a sharp decline in current value sales in 2019, with part of the reason for its falling sales being due to its high prices. While this had a negative effect on the overall herbal/traditional products performance, the category as a whole still recorded positive growth in 2019.

INVIMA’s controls see some players quit herbal/traditional products

The market for natural products – which corresponds to the group of companies that offer and people who consume medicines of natural plant origin – is not particularly well developed in Colombia. Consumers do not know enough about the properties of the products and as INVIMA exerts controls over the spreading of information on the properties of the products, prohibiting explanations of their benefits, players cannot explain what the products are for when they are selling them and also cannot differentiate them from other products and brands.

Despite its biodiversity, Colombia’s production of herb-based products is still limited

Colombia is among the countries with the greatest biodiversity in the world and currently has 27 companies that manufacture medicines based on herbs and natural products. However, the government restricts local production, which results in raw materials having to be imported.

COMPETITIVE LANDSCAPE
Cadbury Adams Colombia consolidates its leadership

Cadbury Adams Colombia, which took over the leadership of herbal/traditional products from Zrii Amalaki in 2018, extended its lead over the second-placed player in 2019. Halls is the company’s flagship brand and is available in most distribution channels, enjoying the perception of being a confectionery product rather than a natural remedy.

Sanofi-Aventis Pharma exits herbal/traditional digestive remedies

Sanofi-Aventis Pharma exited herbal/traditional digestive remedies with its Colaxin brand being bought by Laboratorio Franco Colombiano Lafrancol and its other brand Naturet leaving the category. The player faced strong competition from domestic players such as Laboratorio de Farmacología Vegetal and Laboratorios Natural Freshly Infabo Ltda due to local knowledge and strong distribution channels.

Laboratorios Naturfar offering free training in natural products and phytotherapy

Laboratorios Naturfar is a domestic laboratory in the area of natural medicine that currently has 71 product references in its portfolio, with its most popular being its phytotherapeutic products, of which there are 41. It also offers free online courses for the Management of Natural Product Stores and Phytotherapy, with the aim of supporting and helping its customers, which are natural products stores, to meet the requirements for authorised products set by the Municipal and Departmental Health Secretariats.

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Herbal/Traditional Products in Colombia

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Overview

Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Colombia 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 Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Herbal/Traditional Products in Colombia 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 Colombia?
  • What are the major brands in Colombia?
  • What is the market size of Herbal/Traditional Products in Colombia?
  • What are the major brands in Colombia?
  • Are Ayurvedic or Traditional Chinese Medicine products available in Colombia?
  • 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 Colombia - Category analysis

HEADLINES

PROSPECTS

Herbal/traditional tonics continues to negatively affect overall herbal/traditional products growth
INVIMA’s controls see some players quit herbal/traditional products
Despite its biodiversity, Colombia’s production of herb-based products is still limited

COMPETITIVE LANDSCAPE

Cadbury Adams Colombia consolidates its leadership
Sanofi-Aventis Pharma exits herbal/traditional digestive remedies
Laboratorios Naturfar offering free training in natural products and phytotherapy

CATEGORY DATA

Table 1 Sales of Herbal/Traditional Products by Category: Value 2014-2019
Table 2 Sales of Herbal/Traditional Products by Category: % 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 by Category: Value 2019-2024
Table 6 Forecast Sales of Herbal/Traditional Products by Category: % Value Growth 2019-2024

Consumer Health in Colombia - Industry Overview

EXECUTIVE SUMMARY

Consumer health continues to grow in 2019
Smuggling remains a problem for the consumer health market in Colombia
GSK Consumer Healthcare the clear leader, with foreign companies leading most categories
Chemists/pharmacies still the leading distribution channel
Increasing awareness of self-care and an ageing population will help drive sales

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 Penetration of Private Label in Consumer Health by Category: % Value 2014-2019
Table 14 Distribution of Consumer Health by Format: % Value 2014-2019
Table 15 Distribution of Consumer Health by Format and Category: % Value 2019
Table 16 Forecast Sales of Consumer Health by Category: Value 2019-2024
Table 17 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
Summary 1 OTC: Switches 2018-2019

DEFINITIONS

SOURCES

Summary 2 Research Sources