(MENAFNEditorial)
Herbal/traditional products in Japan increased by 2% in current retail value terms to reach ¥364.2 billion in 2014. Several new product launches contributed to the overall growth of the category. Herbal/traditional remedies in Japan consists of kampo (Japanese traditional medicine focusing on improving individuals’ physical constitution) products and vitamins and dietary supplements comprised of kampo-based crude drugs. Based on established theories kampo products are made from various combinations of crude drugs from plants fungus minerals and others. Kampo products are widely recognised and well-trusted among Japanese consumers because most are classified as class 2 OTC drugs. Another reason is that kampo products are available at hospitals and clinics with a doctor’s prescription. As it is common for doctors to prescribe both Western drugs and kampo products the latter are considered almost equally effective.
Full Report Details at
- http://www.fastmr.com/prod/972412_herbaltraditional_products_in_japan.aspx?afid=101
Competitive Landscape
Miki Corp remains the leading player in herbal/traditional products in 2014 with retail value share of 14%. The company is a food and drink direct seller and the driving force of its sales is Miki Prune Extract which is classified into herbal/traditional dietary supplements. The product contains vitamins and minerals and is said to be effective for constipation and anaemia. The product is well-known for television commercials featuring Kiichi Nakai a Japanese actor popular among middle-aged and elderly women who are the primary customers of Miki Prune Extract. While the company maintained the largest retail value share it continued to decline due to the ageing of its customers and fewer opportunities for direct selling with the increasing number of dual-working households.
Industry Prospects
Herbal/traditional products is expected to register a value CAGR of 1% at constant 2014 prices over the forecast period. One of the factors behind the estimated static market size is the popularity of prescription kampo products. While OTC kampo products are primarily available from parapharmacies/drugstores and non-store channels prescription kampo products are more common among Japanese consumers because they can receive appropriate kampo medication. As kampo medicine focuses on improving each individual’s physical constitution each kampo formula is intended for individuals with different physical constitutions. Thus taking inappropriate kampo products based on self-judgment can bring about no positive effects to consumers. Therefore it is a key factor for OTC kampo manufacturers to provide consumers with information and counselling services so that they can choose the appropriate kampo medication.
Report Overview
Discover the latest market trends and uncover sources of future market growth for the Herbal/Traditional Products industry in Japan 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 Japan our research will save you time and money while empowering you to make informed profitable decisions.
The Herbal/Traditional Products in Japan 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 Japan?
* What are the major brands in Japan?
* What is the market size of Herbal/Traditional Products in Japan?
* What are the major brands in Japan?
* Are Ayurvedic or Traditional Chinese Medicine products available in Japan?
* Which traditional products like charcoal bird’s nest camphor valerian or menthol are popular?
Reasons to Get this Report
* Gain competitive intelligence about market leaders
* Track key industry trends opportunities and threats
* Inform your marketing brand strategy and market development sales and supply functions
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts we provide quick and easy access to the best competitive intelligence available. Our unbiased expert staff is always available to help you find the right research to fit your requirements and your budget.
For more information about these or related research reports please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.