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Cracow, Malopolskie, Poland, 2011/12/14 - In 2011-2013, the market of dietary supplements in Poland will develop at a rate of 9-15% annually, according to the latest report published by PMR entitled “Dietary supplements market in Poland. Development forecasts for 2011-2013” - PMRCorporate.com.
Although the market growth rate is lower than in the preceding year, it should be noted that it still will be very high, e.g. higher than the rate for OTC medicines. PMR assumes that the trends which prevailed in the previous year and positively stimulated sales will continue. These trends include the aging population, growing interest in self-treatment, healthy lifestyle and healthy appearance, natural and herbal products.
In 2007-2010, a growth rate of the Polish dietary supplements market gradually flattened to equal merely 4% in 2010, hitting a ten-year low. Generally, in 2010 the whole pharmaceutical market, including manufacturers of health products, such as dietary supplements, reported relatively low growth rates. “This was mainly a result of a high base effect of 2009, when due to a large number of infections and a panic caused by swine influenza, sales of OTC products climbed notably in spite of the global financial crisis. At the same time the 2010 growth rate was adversely affected by the economic crisis in Poland and although the GDP doubled relative to 2009, Poles’ purchasing power was still rather weak” Monika Stefańczyk, a co-author of the report explained.
Additionally, companies were forced to reorganise their product portfolios since regulations regarding borderline products became effective. According to the PMR research conducted specifically for the report, approx. 10% of companies had to withdraw a part of their products as a result of the regulations.
Companies approach future with greater caution
The majority of the companies predict that their financial condition will improve in 2011. However, this involves a 23 p.p. plunge relative to 2007. What is more, four years ago none of the companies expected their financial situation to deteriorate, whereas this year 6% of the respondents make such a prediction. Additionally, approximately one-third of the interviewed forecast that in 2011 their company’s financial standing will remain unchanged. “This proves that in comparison with 2007, the respondents’ mood are slightly more moderate, but still rather positive”, according to Agnieszka Skonieczna, a co-author of the report.
This press release is based on information contained in the latest PMR report entitled “Dietary supplements market in Poland 2011. Development forecasts for 2011-2013”.