Elevated inflation, high interest rates and supply disruptions are set to continue presenting challenges to the local economy heading into the forecast period. As a result, Spaniards are expected to remain price-sensitive and will likely reduce spending on perceived non-essentials into at least 2024.
Over the years, stronger penetration of herbal/traditional products has suffered from lack of popularity and support from Spanish doctors. However, over the review period, category players such as Heel and Aboca launched campaigns to encourage doctors to consider the greater use of herbal products as a complement to traditional medicine.
Herbal/traditional product is predicted to offer stronger value growth potential (at constant 2023 prices) than many standard OTC categories over the forecast period. With this in mind, many of the leading players in consumer health are expected to invest more in developing their herbal/traditional product ranges as well as their marketing activities in the category, with the ultimate aim of becoming more competitive, establishing a stronger position and leveraging rising demand.
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Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Herbal/Traditional Products industry in Spain, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Herbal/Traditional Products
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 DefinitionsThis report originates from Passport, our Herbal/Traditional Products research and analysis database.
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