Executive Summary

Oct 2019
PROSPECTS
Herbal/traditional products continue to be supported by health and wellness trend

Herbal traditional products continued to record a stable performance in 2019 with herbal/traditional dietary supplements holding the highest value share overall as consumers continued to appreciate the support these products offer them due to the rising health and wellness trend in the country. In addition, sleep aids, cough, cold and allergy (hay fever) remedies and topical analgesics/anaesthetic continued to be dominated by herbal/traditional products as many Singaporeans like to use natural products as they perceive them to have fewer side effects compared to standard chemical-based products.

Capsule format gains in popularity although tonics preferred by older consumers

While there is ongoing stable demand for herbal/traditional tonics in Singapore, products that are packaged in capsule form are increasing in popularity and rapidly gaining in acceptance amongst a wider group of consumers. Capsules are easier to store and offer greater convenience in terms of consumption, although older Singaporeans prefer the more comforting format of tonics, particularly due to the popularity of Essence of Chicken, which is offered by a number of brands in the category.

Millennials more likely to turn to standard products for faster solutions

Younger consumers, particularly millennials who live fast-paced lifestyles and often demand effective rapid solutions to various conditions or illnesses, are less likely to opt for herbal/traditional products as they perceive standard consumer health products to offer greater efficacy, with topical analgesics/anaesthetic and vitamins and dietary supplements both losing value share to standard products in 2019. This therefore poses a challenge to manufacturers of herbal/traditional products which tend to offer a gentle slow-acting long-term solution rather than producing rapid results.

COMPETITIVE LANDSCAPE
Cerebos Pacific retains lead of highly fragmented category due to popularity of Brand’s Essence of Chicken

Cerebos Pacific Ltd retained its lead of a highly fragmented competitive landscape for herbal/traditional products, with the highest value share being held by smaller players under “others”, which continued to gain ground. The company is best known for its Brand's Essence of Chicken under herbal/traditional tonics, which is popular amongst older consumers who appreciate it as a gift as its shows consideration for their health and wellbeing.

Combination dietary supplements offer consumers a more general solution

Brands of herbal/traditional combination dietary supplements such as GNC, Pharmanex, Nutrilite and Blackmores are popular with consumers who take a general approach to wellbeing and want to ensure that they obtain more complete nutritional intake. Therefore, products that offer a combination supplement using ingredients such as turmeric, cranberry, ginkgo biloba or honey for instance are growing in popularity.

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Herbal/Traditional Products in Singapore

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Overview

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

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

HEADLINES

PROSPECTS

Herbal/traditional products continue to be supported by health and wellness trend
Capsule format gains in popularity although tonics preferred by older consumers
Millennials more likely to turn to standard products for faster solutions

COMPETITIVE LANDSCAPE

Cerebos Pacific retains lead of highly fragmented category due to popularity of Brand’s Essence of Chicken
Combination dietary supplements offer consumers a more general solution

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 Singapore - Industry Overview

EXECUTIVE SUMMARY

Changing demographics and unhealthy lifestyles support demand for consumer health
Preventative approach supports demand for vitamins and dietary supplements for both adults and children
Multinational players lead increasingly fragmented competitive landscape
Domination of health and beauty specialist retailers but smaller channels offer consumers convenience and competitive prices
Further growth for consumer health supported by health and wellness trend and preventive approach to wellbeing

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