Though the OTC and pharma market have been going through changes in recent years, especially with tighter healthcare regulations, the Russian food supplements market has been showing positive signs in the last few years. Besides, the highest revenue in the food supplement sales came from the most expensive products in the segment.
Rospotrebnadzor, the federal service for overseeing consumer rights, production and human well-being in Russia, required food supplement manufacturers to provide the notification “Not a drug” on their packages. Besides, using similar brand names to the brand names of OTC or Pharma products on food supplements is now prohibited.
When having a closer look at the Russian food supplement market, it is surprising to find out that the largest portion of the revenue is coming from the most expensive brands. According to the DSM Group food supplements which are sold at prices of over 500 Rubles took over 40% of the total sales value in the market, while the cheapest products with prices below 50 Rubles only accounted for 5.8% of the sales value. Additionally, DSM group reported a decreasing share of low-priced food supplements in terms of market value and sales volume.
So far, the most popular food supplements on the Russian pharma market are those affecting the whole body, with 30.1% of the market. Food supplements for the digestive system and reproductive system are ranked second and third place.
For Russian pharmacies, the food supplement market is still essential. There are over 2700 different brands in the market operated by over 900 companies represented in the shelves. In the past few years, new incomers could get high ratings quickly with successful promotion. Yet, the growth in recent years has been slowing down, possibly because of the fierce competition and tighter regulatory guidelines on the Russian pharma market
Featured image: Photo by Diana Polekhina on Unsplash
