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Sweden health and beauty specialist retailers market forecast to increase by 2% CAGR during 2014 to 2019

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PR-Inside.com: 2014-04-30 01:07:03
Health and beauty specialist retailers achieved marginal growth of 1% in value sales in 2013. Intense price competition and lingering economic uncertainty hindered sales from growing more strongly during the year. The dominating chemists/pharmacies category recorded flat development due to tough price competition, which followed from the deregulation of the state-controlled monopoly on pharmacy retailing in Sweden in 2009.

Apoteket was the leading player in health and beauty specialist retailers, accounting for 28% of retail value sales in 2013. Apoteket is the old state monopoly pharmacy chain, which enjoys high brand awareness amongst Swedes thanks to its longstanding presence and history in the market. However, due to the intensified competition following the deregulation of the category in 2009, Apoteket slowly lost ground at the end of the review period, declining by half a percentage point in 2013 alone.

Health and beauty specialist retailers is expected to record constant value growth of 2% over the forecast period, slightly higher than the 1% growth seen over the review period. Growing sales are predicted to be driven by the slowly improving economic situation. The number of outlets is also expected to continue to increase, although at a slower pace than before, mainly as the growth in terms of chemists/pharmacies will slow down.

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