Australia Nutritional Supplements Market Report 2022 to 2030

Australia Nutritional Supplements Market Analysis

$ 3999

By 2030, it is anticipated that the Australian nutritional and supplements market will reach a value of $9.81 Bn from $4.58 Bn in 2022, growing at a CAGR of 10% during 2022-30. The market is primarily dominated by local players such as Blackmores, BioMedicals, Nutralife, and Life-Space. The market for nutrition and supplements in Australia is primarily driven by reimbursement scenarios, increasing customer awareness, and increasing disposable incomes. The Australian nutrition and supplements market in Australia is segmented by Type, Product, application, and Distribution Channel.

ID: IN10AUON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Australia AUTHOR: Dr. Vishwa Modhia

Buy Now

Australia Nutritional and Supplements Market Analysis Summary

By 2030, it is anticipated that the Australia nutritional and supplements market will reach a value of $9.81 Bn from $4.58 Bn in 2022, growing at a CAGR of 10% during 2022-30.

In Australia, medicinal products containing such ingredients as herbs, vitamins, minerals, nutritional supplements, homeopathy, and certain aromatherapy preparations are referred to as "complementary medicines or supplements" and are regulated as medicines under the Therapeutic Goods Act 1989. In Australia, the industry for vitamins and dietary supplements accounts for more than half of the profits made by the complementary medicine sector. The second-most significant area was sports nutrition.

In Australia, it was predicted that by 2021, spending on nutritional supplements would total $1.9 Bn. This shows consistent growth over the past few years, which is reflective of the nation's growing awareness of and demand for health and wellness products.

australia nutrition and supplements market

Market Dynamics

Market Growth Drivers

The Australian market for supplements and nutrition is growing as the elderly population rises. Many Australians are thinking about the connection between health and diet as they get older and deal with rising healthcare costs. The dietary supplement and nutrition sector is expanding its market and developing new products to take advantage of opportunities.

In Australia, people 35 and older are more likely to buy vitamins, minerals, and other supplements than people 25 and younger. The demand for dietary supplements is increasing significantly as a result of favorable demographics like the aging population and rising healthcare costs.

Market Restraints

The amount of money made from sales in the nutrition and supplement market segment has significantly decreased. This decline can be attributed to a number of factors, including decreased foot traffic in physical stores as a result of coronavirus precautions and an increase in online sales, which gave Australian consumers the option to buy vitamins and supplements from other vendors and abroad.

Competitive Landscape

Key Players

Blackmores (AUS)
BioMedicals (AUS)
Body Science (AUS)
Herbs of Gold (AUS)
Nutralife (AUS)
Life-Space (AUS)
Kellogg Pty. Ltd. (AUS)
Nestle Australia Ltd. (AUS)
General Mills Australia Pty. Ltd. (AUS)
Herbalife Nutrition Ltd (AUS)
PepsiCo, Inc (AUS)

Healthcare Policies and Reimbursement Scenarios

Australia has a risk-based approach with a two-tiered system for the regulation of all medicines, including nutrition and supplements. The lower-risk medicines can be listed on the Australian Register of Therapeutic Goods (ARTG), and higher-risk medicines must be registered on the ARTG.

In Australia, there is no national reimbursement system for nutrition and supplement products. They can be sold over the counter without a prescription, but their efficacy and safety must be established. Some private health insurance plans may provide limited coverage for certain types of supplements, but this is not widespread and depends on the individual's policy.

1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Australia Nutritional and Supplements Market Segmentation

By Product (Revenue, USD Billion):

Sports Nutrition
- Sports Food
- Sports Drinks
- Sports Supplements

Fat Burners
- Green Tea
- Fiber
- Protein
- Green Coffee
- Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia)?

Dietary Supplements
- Vitamins
- Minerals
- Enzymes
- Amino Acids
- Conjugated Linoleic Acids

Functional Foods
- Probiotics
- Omega-3
- Others

By Consumer Group (Revenue, USD Billion):

Infant
Children
Adults
Pregnant
Geriatric

By Formulation (Revenue, USD Billion):

Tablets
Capsules
Powder
Softgels
Liquid
Others

By Delivery Channel (Revenue, USD Billion):

Chemists/Pharmacists
Direct-to-Consumer Sales
E-commerce

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.