Australia and New Zealand Nutritional Supplements Market Booming to Surpass USD 9.7 Billion by 2030

Published | 27 September 2024

Australia & New Zealand Nutritional Supplements Market is flourishing because of a heightened focus on the management of rising prevalence of lifestyle diseases and growing awareness about health and wellness.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Australia and New Zealand Nutritional Supplements Market size at USD 5.38 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Australia & New Zealand Nutritional Supplements Market size to expand at a CAGR of 9.10% reaching a value of USD 9.72 billion by 2030. Growing health consciousness among consumers and the increasing incidence of many non-communicable illnesses as a result of unhealthy eating and lifestyle choices are major growth factors for Australia & New Zealand Nutritional Supplements Market. The COVID-19 pandemic hastened the country's supplement adoption rate, contributing to the broader expansion of Australia & New Zealand Nutritional Supplements Market.

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Opportunity – Increasing Demand for Supplements Post COVID-19 Pandemic

The COVID-19 pandemic played a crucial role in accelerating the adoption of nutritional supplements across Australia & New Zealand. The high rate of virus contraction, especially among people with weak immunity resulted in increased health-consciousness. During the COVID-19 pandemic, people of all ages were affected by numerous illnesses, and the effects were severe owing to viral infection. Despite a lack of earlier proof that immunity-boosting supplements prevent viral infection, demand for them skyrocketed during the COVID-19 pandemic.

Impact of Escalating Geopolitical Tensions on Australia & New Zealand Nutritional Supplements Market

The escalating geopolitical tensions negatively impact the growth of Australia & New Zealand Nutritional Supplements Market. Conflicts between nations over geopolitics interrupt supply chains, which has an immediate impact on the price and availability of raw materials required to make nutritional supplements. In addition to creating logistical difficulties for the market, these tensions obstruct transport routes, resulting in delays and higher shipping prices. Geopolitical tensions may also lead to new trade restrictions or tariffs being implemented by nations, which might have an effect on the import and export of nutritional supplements within the area. Due to market volatility and slowdown, they may also discourage investors from making investments.

E-commerce Distribution Channel to Grow at Fastest CAGR

Over the projected period, it is expected that the e-commerce segment will grow at the fastest rate in Australia & New Zealand Nutritional Supplements Market. Post the COVID-19 pandemic, demand for nutritional supplements through online pharmacies and platforms surged since they provided doorstep delivery of goods and the ease of making payments online. The growing e-commerce business is expected to be driven by the growing popularity of e-commerce sales among working people, who lead hectic lifestyles. The other major distribution channels in Australia & New Zealand Nutritional Supplements Market include supermarkets/hypermarkets, specialty stores, and pharmacies segments.  

Competitive Landscape

Australia & New Zealand Nutritional Supplements Market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Nestle, Blackmores, Swisse, Nature's Way, Bioglan, Healtheries, Comvita, Nuzest, Horleys, and Good Health. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Don’t miss the business opportunity in Australia & New Zealand Nutritional Supplements Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and Australia & New Zealand Nutritional Supplements Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Australia & New Zealand Nutritional Supplements Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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