According to the report analysis, ‘Health & Beauty Retailing In Ukraine, Market Shares, Summary And Forecasts To 2022’ states that some of the major companies which are currently functioning in this domain for meeting the extensive demand of consumers and acquiring the effective share in this category of retail includes ATB-Market, Watsons, Kosmo, Prostor, Med-Service, Apteka Nyzkyh Tsin, EVA, Avon, Ukrainian Pharmacy Holding LLC, Farmacia and several others. Whereas, EVA emerged as the fastest growing player which is opening 135 stores in 2017 and expected that by time it will gather the handsome amount of share. Not only has this, the report also provide in-depth analysis of this category sales, qualitative and quantitative insights of turning retail dynamic in this category, changes in the consumer behavior, technological innovations, covering the factors driving shopping, consumer insights and several others.
The cosmetics and personal care products are gaining significant attention and becoming most prominent products in the present trend as such types of product totally transform the status of the consumer and change their style of living life. Whereas, the industry of health & beauty products in Ukraine is growing in an efficient manner with the effective and outstanding working of the key players as they are introducing new products which are extensively related to the cosmetics and personal care. Moreover, the customers of this category is also demanding more effective and efficient products as in the recent trend the consumers are becoming more health conscious. Furthermore, with the growing demand of health and beauty products the major retailers are establishing the e-commerce platform by which the consumer can compare the product with the other related products. With the e-commerce platform the key players of Ukraine is able to supply the goods across the globe and can acquire the handsome amount of share.
The health and beauty sector is projected to produce the third fastest growth at a CAGR of 4.9% during the period 2017-2022 whereas, the Ukraine retail market is forecasted to grow at a CAGR of 4.7% during 2017-2022. Moreover, by the increase in the aging population and significant increase in the health awareness, operating the growth of this category in the retail market. With the growing awareness related to health the consumers are demanding natural cosmetics which is the key factor for the significant rise in sales for this sector. The medical stores and health & beauty stores accounted huge share during the period 2017-2022 whereas, with the help of e-commerce platform the consumer get wide variety of products, brand availability and discounted price which are encouraging the online sales more significantly. The major retailers are competing in the mass market segment by exploring their store networks.
The key players are forming the reliable research projects and adopting the even method of pricing which increases the sales more effectively in the recent and upcoming trends. Moreover, the key players are performing analysis on this category of retail for attaining the highest share in the market and defeating the demand of the consumers. Therefore, in the coming years it is expected that this retail market of Ukraine will grow more effectively over the decades with the efficient planning of the key retailers.
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Ankur Gupta, Head Marketing & Communications