Executive Summary

Oct 2019
PROSPECTS
Consumers turn to natural products to avoid chemicals and undesirable ingredients

There was a noticeable upsurge in the popularity of products labelled or positioned and/or perceived as “natural” among Serbian consumers over the review period. This continues to positively affect herbal/traditional products in value growth terms in 2019.

More consumers look to natural options to treat mild ailments like coughs and colds

Cough, cold and allergy (hay fever) remedies is the second most valuable category in herbal/traditional products, after dietary supplements, in 2019. The popularity of herbal/traditional cough, cold and allergy (hay fever) remedies is derived from the growing naturalness trend.

Herbal/traditional sleep aids derives demand from busy and stressed consumers

Herbal/traditional sleep aids is seeing the highest current value sales growth in 2019. This is partly because non-herbal/traditional sleep aids are largely perceived as psychiatric drugs and, therefore, shunned by many consumers.

COMPETITIVE LANDSCAPE
ESI and others leverage recognition in dietary supplements to lead the way

The biggest players within herbal/traditional products in Serbia are often producers of dietary supplements, which are also perceived as “natural” options that justify potential additional costs. These leading manufacturers basically market these two product types as parts of the same portfolio.

Pfizer uses high resources to support BenGay with prime-time TV advertising

In 2019, Pfizer (GBO Johnson & Johnson) is the most active player in terms of advertising via the most effective channel, television. The company’s support of BenGay herbal/traditional topical analgesics with TV advertisements helped to increase brand value sales at the end of the review period.

Retailing development improves the offer and value shares via modern formats

The distribution landscape is being impacted by the general development and modernisation of retailing in Serbia. Internet retailing is still a small channel for herbal/traditional products, but its value sales continue to grow positively in 2019.

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Herbal/Traditional Products in Serbia

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Overview

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

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

HEADLINES

PROSPECTS

Consumers turn to natural products to avoid chemicals and undesirable ingredients
More consumers look to natural options to treat mild ailments like coughs and colds
Herbal/traditional sleep aids derives demand from busy and stressed consumers

COMPETITIVE LANDSCAPE

ESI and others leverage recognition in dietary supplements to lead the way
Pfizer uses high resources to support BenGay with prime-time TV advertising
Retailing development improves the offer and value shares via modern formats

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 Serbia - Industry Overview

EXECUTIVE SUMMARY

Health and self-medication trends maintain positive value growth performance
Focus on marketing and distribution as new product development is limited
The main players use advertising to gain an edge in a highly fragmented landscape
Drugstores/pharmacies and grocery retailers continue to develop as alternatives to chemists/pharmacies
Healthy but slower value growth as signs of maturity appear in bigger categories

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 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

DEFINITIONS

SOURCES

Summary 1 Research Sources