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Market Research Report
Consumer Health in Latvia |
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| Published by | Euromonitor International | Product code | 972711 | ||||
| Published | Content info | 91 Pages Delivery time: 1-2 business days |
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| Consumer Health in Latvia | ||
| Published: November 18, 2020 | Content info: 91 Pages |
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Consumer health in Latvia is expected to show healthy growth in response to the COVID-19 pandemic in 2020. COVID-19 made immune system functionality a central concern for consumers and is set to revitalise some previously sluggish product areas. Single vitamins are expected to be one of the prime beneficiaries, as the media emphasised their importance in boosting immunity and more educated consumers flocked to buy them. Furthermore, the tendency to self-medicate appears to have only been strengt...
Euromonitor International's Consumer Health in Latvia report offers a comprehensive guide to the size and shape of the market at a national level. It provides the latest retail sales data 2015-2019, allowing you to identify the sectors driving growth. Forecasts to 2024 illustrate how the market is set to change.
Product coverage: Allergy Care, Herbal/Traditional Products, OTC, Paediatric Consumer Health, Sports Nutrition, Vitamins and Dietary Supplements, Weight Management and Wellbeing.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
List OF CONTENTS AND TABLES
EXECUTIVE SUMMARY
COVID-19 impact on consumer health
COVID-19 country impact
Company response
Retailing shift
What next for consumer health?
MARKET INDICATORS
MARKET DATA
APPENDIX
OTC registration and classification
Vitamins and dietary supplements registration and classification
Self-medication/self-care and preventive medicine
Switches
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
DISCLAIMER
DEFINITIONS
SOURCES
KEY DATA FINDINGS
2020 IMPACT
Consumers fear the worst, buying analgesics to combat symptoms of COVID-19
Waning interest in Ibumetin helps GSK Consumer Healthcare overtake Nycomed Latvia in 2020
Nurofen gains popularity with parents
RECOVERY AND OPPORTUNITIES
Self-medication remains strong due to problems accessing doctors
Ibuprofen remains a the most popular systemic analgesic in the forecast period, valued for its many uses
Ageing will lead to growth in topical analgesics/anaesthetic, despite depopulation in the forecast period
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
COVID-19's net impact on sales of cough, cold and allergy (hay fever) remedies is positive in 2020, with consumers taking minor symptoms more seriously
Global players dominate in an increasingly fragmented category
Silvanos equals GSK Consumer Healthcare in value share thanks to its Faringospray brand and strong emphasis on herbal remedies
RECOVERY AND OPPORTUNITIES
Increasing prevalence of allergies in Latvia contributes to growth in the forecast period
Latvian consumers will continue to turn to natural remedies
Segmentation by symptoms seen in cough and cold remedies
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Poor eating habits and busy lifestyles sustain demand for digestive remedies, leaving it less affected by COVID-19 in 2020
Established brands from international players lead due to their good reputation
Local producers continue to account for a minor share of sales
RECOVERY AND OPPORTUNITIES
Ageing and busy population contributes to demand for digestive remedies in the forecast period
Efficacy leads to growing use of proton pump inhibitors over H2 blockers
Busy lives and wide product availability lead to self-medication
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Rising stress levels and sedentary lives as a result of COVID-19 provides a boost for dermatologicals in 2020
Bayer leads thanks to consumer trust and a boost to its Canesten brand
Fragmentation due to the specific nature of dermatological problems
RECOVERY AND OPPORTUNITIES
Lessening of social stigma stimulates growth in vaginal antifungals
Consumers will be increasingly willing to spend on hair loss treatments
Competition from prescription medicines and beauty and personal care products
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
COVID-19 and outdoor exercise boom raise sales of wound care products in 2020
Leading players maintain their positions, but see slight share declines
With little brand loyalty, private label is prominent within wound care
RECOVERY AND OPPORTUNITIES
Ageing population drives growth, which is offset by population decline
Rising incidence of diabetes increases demand for advanced wound care products
Slower volume growth, but higher value growth due to increasing segmentation over the forecast period
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Immunity becomes a central concern for consumers in the wake of COVID-19, boosting sales of single vitamins
Pharma Nord takes the lead in a very fragmented category
Private label lines from retailers could shake up the competitive landscape
RECOVERY AND OPPORTUNITIES
Latvians focus on prevention and healthier lifestyles as the population ages over the forecast period
Hype around vitamin D will continue, as media highlights problems of deficiency
Vitamins will become more segmented and more fragmented, with many new entrants
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Sluggish growth for dietary supplements as consumers turn to single vitamins to boost their immunity to COVID-19
Axellus continues to lead a fragmented category with its Moller's brand
Increase in private label lines due to higher profits, but consumers still favour brands
RECOVERY AND OPPORTUNITIES
Focus shifts from treatment to prevention, boosting sales over the forecast period
Fish oils/omega fatty acids and minerals will remain the largest categories
Wide range of distribution channels will likely reduce the share of chemists/pharmacies
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
COVID-19 highlights the seriousness of obesity, marginally lifting weight management and wellbeing sales in 2020
Strength in meal replacement maintains Herbalife's clear lead
Personal recommendation ensures direct selling continues to dominate
RECOVERY AND OPPORTUNITIES
Continued growth expected to address the high obesity rate and lead a healthier life
Meal replacement gains from the wellness and convenience trends over the forecast period
Limited availability and the availability of alternatives challenge growth
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Tight restrictions on the use of gyms as a result of the COVID-19 pandemic hit sales of sports nutrition hard in 2020
Weider Global Nutrition leads an increasingly consolidated category
Distribution in grocery retailers contributes to growth of local player Dion Sportlab
RECOVERY AND OPPORTUNITIES
Fitness culture drives growth in sports nutrition over the forecast period
Protein trend is expected to strengthen, as consumer aim to gain muscle mass and lose weight
Evidence of the convenience trend in sports nutrition due to busy lives will continue in the forecast period
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
Consumers turn to more conventional remedies in the face of COVID-19, leaving herbal/traditional products with slightly lacklustre sales
Strong representation from local companies thanks to consumer trust
International players benefit from marketing their long-standing brands
RECOVERY AND OPPORTUNITIES
Latvians will become more familiar with herbal/traditional products, maintaining growth over the forecast period
Cough, cold and allergy (hay fever) remedies will continue to lead due to high levels of consumer trust
Growing variety of products, formats and channels will meet consumer needs
CATEGORY DATA
KEY DATA FINDINGS
2020 IMPACT
COVID-19 increases parental concern and boosts sales of paediatric consumer health products in 2020
International brands lead as consumers seek trusted products for their children
Availability of formats which appeal to children make parents' lives easier
RECOVERY AND OPPORTUNITIES
Prevention of health problems boosts paediatric vitamins and dietary supplements over the forecast period
Paediatric analgesics increasingly used to reduce symptoms of fever amongst sufferers of cold and flu
Higher spending, format innovation and digital strategies contribute to growth
CATEGORY DATA
