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Latvians need more calming and sleeping pills

By Andra Kunstberga. 17.05.2013

Calming scene
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Calming and sleeping remedies are on the rise in Latvia


The rising purchasing power of Latvian consumers is resulting in further growth in the market for calming and sleeping products, a new report suggests. Relatively costly products positioned as high-quality remedies became increasingly popular over 2012.

Standard calming and sleeping products continue gaining in popularity in particular among younger consumers who suffer from stress and sleep disorders. The growing stress levels are directly related to the uncertain financial situation amongst young people, the Calming and Sleeping in Latvia market research report by the company Euromonitor says.

Adding to the trend is the fact that many young people are emotionally suffering from dissociation from their parents who live and work abroad, the report states.

There is also visible increased demand for calming and sleeping remedies recommended by psychologists or psychotherapists as a higher number of affluent people visit these specialists on a regular basis.

However, it is still true that Latvia’s middle-aged and elderly population continue to lead the consumption of calming and sleeping remedies in Latvia due to disorders related to ageing.

Lek Pharmaceuticals remained the major player in calming and sleeping medications in 2012 due to successful performance of its Persen brand. The company became the market leader with a value share of 24% after the popular Korvalol brand was changed to prescription-drug status and Validolum started to be positioned as a dietary supplement in 2009.

Due to the increasing number of young people who use calming and sleeping remedies, Euromonitor forecasts that the overall consumer base is expected to grow over the coming five-year period. The popularity of herbal and traditional remedies, especially natural teas, is expected to remain high.

[pictured: Latvian coastline; photo by Andris Eglitis; courtesy Latvian Tourism/TAVA]


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