During the economic crisis of 2014-2015, consumers’ incomes were eroded by the threefold local currency devaluation, and despite the fact that economic conditions in Ukraine improved at the end of the review period, many Ukrainians were forced to continue economising due to comparatively low incomes. The outbreak of COVID-19 caused further strain, with many Ukrainians stressed about the potential of falling ill and the economic uncertainty.
There is a strong tradition of herbal medication in Ukraine. As many people are aware of herbs with sedative effects, such as valerian root, rose hip and mint, making tea with herbs bought from pharmacies or picked in the countryside has been common practice to aid sleep.
Local manufacturers benefit from recognising consumers’ attachment to herbal ingredients which help to counteract sleep disorders, such as valerian root and motherwort. By offering a wide assortment of such medicines, they have become well-established in sleep aids in Ukraine.
Rising prices of products and services, low living standards, uncertainty about the future and other stresses are features of many Ukrainians’ lives that are expected to continue into the forecast period. In addition, consumer lifestyles are far from healthy, characterised by little physical activity and the overuse of electronic gadgets for both work and leisure.
Even though the tradition of herbal medication is slowly disappearing, with Ukrainians preferring more convenient sleep aids, consumer demand for herbal ingredients in OTC sleep aids is particularly high at set to continue over the forecast period. With limited incomes, some Ukrainians, especially the most vulnerable pensioners, find it more economical to buy dietary supplements such as valerian root instead of sleep aids, thus the trend of registering medicines as dietary supplements is likely to persist.
Demographic trends have a significant impact on retail sales of sleep aids in Ukraine. The population was ageing in the review period, and this is set to continue in the forecast period.
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This report originates from Passport, our Sleep Aids research and analysis database.
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