'You are what you eat' and 'staying in shape' are two factors that are becoming more relevant than ever before. There is a strong trend towards adopting healthier, more natural lifestyles. And although this trend may be beneficial to most, it could represent a challenge to the traditional OTC medication industry in the future.
Insight Survey’s latest SA Cough, Cold and Flu Remedies Industry Landscape Report 2019 uncovers the global and local markets based on the latest information and research. It describes the market drivers and restraints as well as the relevant global and local market trends to present an objective insight into the South African cough, cold and flu remedies industry environment, market dynamics and its future.
In 2018, the global cough, cold and allergy Remedies market was valued at approximately US$39.2 billion and is forecast to grow at a compound annual growth rate (CAGR) of 4.9% between 2017 and 2022. Asia-Pacific comprised the largest segment of the cough, cold, and allergy remedies market at 28.8%, or in value terms US$11.3 billion during 2018, as illustrated in the graph below. This was followed by North America and Western Europe at 26.9% (US$10.5 billion) and 19.1% (US$7.5 billion), respectively.
Following global trends, the South African cough, cold and flu remedies market increased by 5.8% from 2017 to 2018, and is projected to increase at a CAGR of 5.1% during the 2019 to 2023 forecast period. Growth in this market has been largely supported by a significant growth in the Cough Remedies category, which achieved a CAGR of 7.4% between 2013 and 2018.
Although some growth has been observed in both the global and South African cough, cold and flu remedies markets over the last few years, the growth has become relatively subdued. One of the key reasons for this is the fact that some consumers are moving away from OTC medicine products and instead adopting natural medication and certain lifestyle practices as an alternative.
Recent research has indicated that natural remedies can effectively serve the needs of consumers. A study in 2019 showed that patients considered a chocolate-based cough medicine to be superior to standard cough remedies. The natural ingredient in the product, cocoa, has demulcent properties, which allows it to soothe irritated mucous membranes by forming a protective film. It also covers the nerve endings that trigger cough urges.
Consumers are also becoming more aware of how certain lifestyle practices can influence their health. As a result, they are becoming more considerate of the number of hours they sleep, how much stress they endure, how much they exercise and what they eat. It is becoming more evident that adopting certain lifestyle ideas can ensure that consumers are less likely to fall ill and, as a result, reduce their need for OTC medication.
In South Africa, many consumers are also opting for traditional remedies over OTC medication. Wild garlic is increasingly being used for the treatment of coughs and colds, while ginger is used for cold symptoms. The movement towards natural medicines and healthier lifestyle choices will more than likely influence consumers’ need for OTC medication in the future. It is, therefore, becoming increasingly important for manufacturers and other industry players to have a solid understanding of developments in the market.
The South African Cough, Cold and Flu Remedies Industry Landscape Report 2019 (110 pages) provides a dynamic synthesis of industry research, examining the local and global Cough, Cold and Flu Remedies industry from a uniquely holistic perspective, with detailed insights into the entire value chain – from manufacturing and importing to retailing, sustainability, pricing analysis, consumption and purchasing trends.
Some key questions the report will help you to answer:
What are the current market dynamics of the global cough, cold and flu remedies industry?
What are the latest SA cough, cold and flu remedies industry trends, drivers, and restraints?
What are the value and volume trends in the SA cough, cold and flu remedies market (2013-2018) and forecasts (2019-2023)?
Who are the key manufacturing and retail players in the SA cough, cold and flu remedies industry?
What are the prices of popular cough, cold and flu remedies products at retail outlets and pharmacies?
Please note that the 110-page report is available for purchase for R27,500 (excluding VAT). Alternatively, individual sections can be purchased for R10,000 (excluding VAT). For additional information simply contact us at or directly on (021) 045-0202 or (010) 140-5756.
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