Although a well-established option in Latvia, herbal/traditional products will face limitations in the forecast period, as OTC products have a distinct advantage. Moreover, herbal/traditional products are fairly expensive in Latvia and many consumers will think twice before purchasing them.
With the growing importance of ethical sourcing and sustainability, products that emphasise these values are likely to gain even more traction in Latvia. Brands that focus on eco-friendly packaging, fair trade ingredients, or locally sourced herbs, like Mádara, can set themselves apart in this category.
As more Latvians combine herbal remedies with conventional medicine, there is a real opportunity for growth in integrative health products that offer a holistic approach to wellness. Companies could develop product lines that are specifically designed to complement traditional treatments, like herbal supplements that enhance the effectiveness of regular medications.
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Understand the latest market trends and future growth opportunities for the Herbal/Traditional Products industry in Latvia 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 Latvia, 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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