Herbal/traditional products benefitted from the pandemic and is expected to register even higher current value growth in 2021. The pandemic has made consumers mode mindful of their health and consumer appreciate the natural properties of herbal/traditional products and when given the choice of either buying natural or chemical-based products, many consumers prefer to choose the former.
Herbal/traditional products continues to be dominated by local players in 2021, with Marriana International holding a clear lead, followed by Qarshi Industries. Local companies have an advantage in herbal/traditional products because of their knowledge of the traditions and practices underpinning demand in the market, which cannot be matched by international players.
The biggest challenge facing sales of herbal/traditional products in Pakistan is the widespread sale of unpackaged herbal/traditional remedies at very low prices. These unpackaged products, which are not covered by Euromonitor International research, are purchased mainly by low-income consumers seeking rapid relief from minor ailments and who are not overly concerned about the low hygiene standards.
Herbal/traditional products is expected to register healthy constant value growth over the forecast period. The Drug Regulatory Authority of Pakistan is expected to continue taking steps to eliminate the circulation of poor-quality, unbranded herbal/traditional products by requiring products to be registered.
The general trend in consumer health is towards more natural medicinal products and consumers will turn to herbal/traditional products over the forecast period, inspired by a higher awareness of health and wellbeing, due to COVID-19. Consumers also see a link between the COVID-19 outbreak and treatment of animals and the environment and it is likely that over the forecast period they will be willing to pay for herbal/traditional products they consider to be natural and pure.
The competitive landscape for herbal/traditional products will remain fragmented with just a few bigger players, with smaller companies making up the bulk of value sales. Players will seek to focus innovation efforts on increased segmentation and newer players will choose a niche segment to target.
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Botanicals or traditional remedies are products that have a long tradition of use, decades of established reputation, and are considered alternative remedies to standard medicine. Traditional medicine remedies such as Ayurveda, Traditional Chinese Medicine (TCM), Unani, Kampo, etc. are included. Homeopathic remedies are excluded. Only packaged products are tracked.See All of Our Definitions
This report originates from Passport, our Herbal/Traditional Products research and analysis database.
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