GLOBAL: The soon-to-be published market forecasts from Nicholas Hall’s Global CHC database DB6 indicate that the global retail CHC market is expected to perform well in 2023, advancing by 5.7%, softening slightly from the strong return in 2022 (+7.2%). Although likely to maintain good growth, we expect a slowdown in the comparatively high rates observed in categories such as cough, cold & allergy and analgesics, and expect others to maintain consistent performances or advance over 2022. Inflation remains a factor in many markets globally, impacting the nominal DB6 projections, and helping to keep the short-term outlook buoyant.
In the longer term, the market is forecast to grow by CAGR 27/22 of 5.2% and CAGR 32/27 of 5.7%, in part driven by Rx-to-OTC switch, most notably of erectile dysfunction and daily oral contraceptives. Projections for the broader CHC market, encompassing all channels and CBD is being finalised, but is expected to push the 2023 global projection to a higher level, and will continue to be spearheaded by the dynamic internet & mail-order channel.
Nicholas Hall Writes: As you can imagine, I’m fully focused on this week’s London conference; and what a pleasure to be able to hold meetings face-to-face! It’s a year since we met in Athens, which felt like an enthusiastic group of friends and colleagues who had been let out of school after three years. One year on, my sense is that executives still do not travel as much as before and I know that the atmosphere will be very good in London. As well as excellent presentations, we’ve lined up amazing networking opportunities, and the delegate dinner will be held on a river boat, always a favourite destination for participants.
In terms of content, there are too many highlights to list here, but I’m particularly looking forward to unveiling our new Strategic Narrative, showing the prevailing opportunities and relatively new threats to consumer health, which continues to hold up remarkably well. According to our lead story this week, 2023 is forecast to be well ahead of the pre-pandemic years, which is an outstanding achievement bearing in mind the many threats faced by our industry. Of course, store retail is only part of the picture, although by far the biggest. When we add in e-Commerce and CBD, and the less dynamic multi-level sector, our growth forecasts for the next 5 and 10 years will impress those within our industry and those looking in from the outside.
Hear from Frank Bacuet, Global Growth & Strategy Director at PricingOne, during our 33rd European CHC Conference, taking place in London next week! You can also expect to hear from experts from companies including J&J, Haleon and Perrigo. See the latest agenda here, or to register without delay, contact elizabeth.bernos@NicholasHall.com.