The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreDec 2016
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Renewed interest in natural healing and wellness has advanced growth and innovation in herbal/ traditional (H/T) consumer health. Meanwhile, increasing regulation and formalisation of H/T medicine has the potential to constrain the industry’s progress or to foster greater consumer trust and confidence in its offerings. This report will explore the global and regional developments in H/T remedies and supplements from 2011-2016 and the dynamics that will influence these categories.
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The formalisation of traditional medicine remedies as established by the World Health Organization (WHO) promotes growth for the industry.
As consumers take more ownership of their health, they also seek products perceived as safer and efficacious. As a result, the demand for botanical options has generated growth, particularly in cough and cold remedies and dietary supplements.
While the popularity of botanical products continues to rise, so are issues regarding sustainability. Some plant-based ingredients may be endangered if proper measures are not taken to sustainably meet rising consumer demand.
Asia Pacific is the repository of some of the most expansive and longest-lived forms of traditional medicine, including Traditional Chinese Medicine (TCM), Ayurveda, Unani, Kampo and Sansang. This influence contributes to the impressive dominance of Asia Pacific in global sales.
The reconciliation of standard and traditional medicine practices is becoming more solid than ever. Health systems and medical schools are embracing the concept of complementary and integrative medicine to provide consumers and patients with the best of two worlds in matters of treatment and prevention. These models will grow further for players seeking positions across platforms.
Innovation for herbal/traditional products mainly comes in the form of packaging and labelling of products resembling their standard counterparts, the launch of innovative botanical combinations for specific ailments, as well as the use of ingredients that are organic, sustainably-sourced, and/or of known provenance.
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.