European Consumers Partial to
Domestic Wellness Products
With a growing number of Europeans becoming more value-oriented and price-sensitive, global
market researcher Euromonitor identifies a shift in consumer behaviour towards locally produced
health and wellness products.
Finland
While health and
wellness products
in Finland, particularly drinks, were
reportedly in a “large decline” in sales
last year, revenue in this category is
expected to increase from 2011
onwards, boosted by government tax on
sweet and soft drinks. With Finnish consumers no longer satisfied with low-fat
or vitamin-fortified options, innovation
is crucial, and penetrating into Finland’s
marketplace may prove difficult for
global companies as consumers tend to
prefer existing local brands.
Norway
Increasing maturity of the
market and consumer pricesensitivity are factors seen to
affect wellness products’ “steady
but slower” growth. Norwegian consumers will continue to be highly partial
to domestic and organic products.
Russia
Russian consumers’
awareness to healthy
eating habits as a
form of preventative
health care is growing. Media campaigns, like educational TV programmes
and healthy diet instructions, are helping
create this consumer trend. Products
that boost energy and immunity as well
as those containing probiotics and prebiotics, plant sterols and fiber are among
the top revenue-generators.
The U.K.
The U.K. consumers are believed to
remain price-conscious, cutting down
expenses on non-essential items. The
new European Union
health claims regulation, which deters
manufacturers from
investing in new products unless they are sure of European
Food Safety Authority (EFSA) approval,
is also likely to have a strong impact on
U.K.’s wellness market.
Ireland
Wellness products in the Irish market
appeared to be “recession-proof,” driven
mainly by consumers’ attitude to cut
back on shopping due to lower disposable incomes, but not on health and
wellness products.
Increasing obesity has also
encouraged more Irish
consumers to make
healthier lifestyle and diet
choices.
March/April 2011
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PULSE 15