Herbal/traditional products is set to continue to register positive, if gradually slowing, retail volume and value (constant 2024 prices) growth in the forecast period. The demand for these products, which are perceived as healthier than regular OTC products, is expected to continue to rise as Belgians become more and more health-conscious.
As there is strong pressure on the Belgian government to open the OTC market to more distribution channels, such as drugstores and grocery retailers, OTC herbal/traditional might be the first category to be liberalised. Indeed, herbal/traditional products are often the drugs with the fewest negative effects in case of misuse.
Pharmacies continue to dominate retail value sales of herbal/traditional products in 2024, but their high prices are driving consumers to seek more affordable alternatives. Parapharmacies like Multipharma, fully operational in the post-pandemic period, and e-commerce retailers like Farmaline and Newpharma are gaining retail value share through aggressive pricing strategies.
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Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in Belgium 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 Belgium, 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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