The concept of health and wellness has, over the past few years, become more of a trend not just in developed markets of Europe and North America but in many developing and emerging economies of the world. Demand for healthcare devices, organic food products, supplementary diets, exercise equipment, and functional beverages has grown, suggesting increased consumer awareness towards overall health and wellness.
The research report provides a comprehensive overview of the health and wellness markets in Russia, Ukraine, and Kazakhstan, identifying and assessing the numerous forces that govern the growth in these regional markets. With the help of the latest market research tools and opinions and recommendations by industry experts, the report offers a fresh perspective on the health and wellness market in these three regions.
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Overview of the Health and Wellness Market
The health and wellness market in Russia is greatly driven by expansion of modern grocery retailers such as hypermarkets and supermarkets. Increased store presence of health and wellness products has resulted in widening consumer awareness about these products. Growing concerns over health and wellness, coupled with rising incomes, have led to higher expenditure on the part of the average consumer on value-added products. However, poor legislative framework, consumer skepticism about a number of product areas, and high prices of these products have threatened to cripple the health and wellness market in Russia.
The health and wellness market in Ukraine witnessed strong growth for a considerable amount of time. However, sales suffered from high inflation rates, resulting in a moderate growth after 2012. Consumers are still wary about spending on value-added products. Multinational companies have been dominating the health and wellness market in Ukraine, like in Russia and Kazakhstan. Strong advertising campaigns emphasizing the benefits of the products has supported the growth of the health and wellness market in Ukraine.
Consumers in Kazakhstan recently indicated a shift towards more expensive and niche products. This, backed by improving health awareness, suggests a healthy growth of the health and wellness market in the region. International players dominate this space, with domestic producers focusing on the lower end of the market.
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Companies Mentioned in the Report
The health and wellness markets in Russia, Ukraine, and Kazakhstan have several leading global players competing against each other. Some of the prominent players vying for the top spot in the health and wellness market are Coca-Cola, L’Oréal, Omron Healthcare, B. Braun Melsungen AG, Nestle S.A., Johnson & Johnson, Philips Healthcare, General Mills, Inc., F. Hoffmann-La Roche, LifeScan, Inc., Abbott Laboratories, Animas Corporation, and Medtronic, Inc.