New Study: Herbal/Traditional Products in Georgia

Despite active promotion of herbal products by the mass media and loyalty of consumers to this direction in pharmaceutics, high rates of growth were not observed in the category. This was mainly due to stabilisation. Herbal products are traditionally present in Georgia, and as a rule, patients consume medicines when stronger means are necessary (they take OTC products when strong means are necessary and take herbal/traditional for less serious conditions).

Competitive Landscape

GM Pharmaceuticals Ltd (GMP), Tbilkhimpharm and Cipla Ltd are longstanding leaders in herbal/traditional products with 11%, 8% and 7% value share respectively. In 2015, leading player GM Pharmaceuticals held 11% value share with its brands Somna Ritz, Imuno Ritz and Biloba Ritz, due to its wide distribution and already high awareness. Tbilkhimpharm ranked second with its brands Valerian and Nastoika Boyarishnika, and Cipla ranked third with its popular brand Senade. All of these brands are very popular in Georgian and have a long-term presence. Therefore, consumers often do not even think about what to choose and directly buy these brands.

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Industry Prospects

The strong tradition of herbal medicine in Georgia is expected to continue during the forecast period. There is expected to be increasing consumer pride in the strong herbal medicine tradition of Georgia, while these products are also affordable and widely distributed. The consumption of herbal/traditional products is expected to remain strongest among children and the elderly, as these consumers are attracted by the gentle effect and lack of side effects of herbal/traditional products.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Georgia with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Herbal/Traditional Products industry in Georgia, our research will save you time and money while empowering you to make informed, profitable decisions.

The Herbal/Traditional Products in Georgia market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares
* Five year forecasts of market trends and market growth  
* Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

* What is the market size of Herbal/Traditional Products in Georgia?

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