Report Overview

A spurring demand for natural and organic supplements from rapidly aging population with growing awareness about health and wellness and increasing prevalence of chronic diseases are expected to drive Australia and New Zealand Dietary Supplements Market during the forecast period between 2024 and 2030.

Australia and New Zealand Dietary Supplements Market – Industry Trends & Forecast Report, 2030

Australia and New Zealand Dietary Supplements Market size by value was estimated at USD 3.26 billion in 2023. During the forecast period between 2024 and 2030, Australia and New Zealand Dietary Supplements Market size is expected to expand at a CAGR of 6.22% reaching a value of USD 4.92 billion by 2030. Rising popularity of health consciousness and wellness trends, rapidly aging geriatric population, and higher disposable income are projected to be major growth factors of Australia and New Zealand Dietary Supplements Market. Awareness about preventive healthcare and chronic disease management also fuels the demand for dietary supplements. Additionally, the growth of e-commerce platforms and digital marketing enhances product accessibility and consumer engagement. Regulatory support for natural and organic products and the influence of sports nutrition further contribute to market expansion. Increasing product innovations and diversification by key players also play a crucial role in driving market growth in the region.

Dietary Supplements – Overview

Dietary supplements are products intended to augment the diet and include vitamins, minerals, herbs, amino acids, and enzymes. They come in various forms, such as tablets, capsules, powders, and liquids. Supplements can help fill nutritional gaps, support health, and manage specific conditions, but they are not substitutes for a balanced diet. While many are beneficial, some can interact with medications or have adverse effects if misused. Regulation and quality control vary by country, so consumers should choose reputable brands and consult healthcare professionals before use to ensure safety and efficacy.

Australia and New Zealand Dietary Supplements Market

Growth Drivers

Growing Awareness about Health and Wellbeing

Australia and New Zealand Dietary Supplements Market is experiencing robust growth, driven by heightened awareness of health and well-being among consumers. Rising health consciousness, influenced by an aging population and a proactive approach to preventive healthcare, has fueled demand for vitamins, minerals, and herbal supplements. Additionally, the growing trend toward natural and organic products, coupled with increased consumer education on the benefits of supplements, is propelling the market expansion. As people prioritize their health in the wake of the COVID-19 pandemic, Dietary Supplements Market is set to continue its upward trajectory in Australia and New Zealand.

Challenges

Counterfeit and Substandard Products

The growth of Australia and New Zealand Dietary Supplements Market faces significant challenges due to the prevalence of counterfeit and substandard products. These inferior supplements undermine consumer trust and also pose serious health risks. Regulatory bodies in both countries are intensifying efforts to combat the issue through stringent quality control measures and public awareness campaigns. Despite these initiatives, the proliferation of fraudulent products remains a critical concern, necessitating continuous vigilance and cooperation among industry stakeholders to ensure the safety and efficacy of dietary supplements available to consumers.

Impact of Escalating Geopolitical Tensions on Australia and New Zealand Dietary Supplements Market

Australia and New Zealand Dietary Supplements Market may significant challenges posed by intensifying geopolitical tensions  among countries across the regions. Trade disruptions and tariffs may increase costs for imported raw materials, leading to higher costs and lower profit margins for the companies and incresed prices for consumers. Supply chain interruptions could cause shortages and delays, affecting product availability. Regulatory changes and export restrictions might limit market access to international suppliers, compelling local companies to seek alternative sources. Additionally, economic instability could reduce consumer spending on non-essential items like dietary supplements. Conversely, heightened health awareness during uncertain times may drive demand for supplements, partially offsetting negative impacts. Overall, escalating geopolitical tensions introduce uncertainties and potential volatilities in Australia and New Zealand Dietary Supplements Market.

Australia and New Zealand Dietary Supplements Market

Segmental Coverage

Australia and New Zealand Dietary Supplements Market – By Form

Based on form, Australia and New Zealand Dietary Supplements Market is divided into Tablets, Capsules, Powders, Liquids, and Soft Gels segments. The tablet form is the largest segment in Australia and New Zealand Dietary Supplements Market. Tablets dominate due to their ease of consumption, precise dosage, and extended shelf life. Consumers prefer tablets for their convenience and the variety of available formulations targeting specific health needs. The preference, combined with the advancements in tablet manufacturing that enhance absorption and efficacy, ensures that tablets remain the most popular choice among dietary supplement forms in the regions.

Australia and New Zealand Dietary Supplements Market – By Distribution Channel

Based on distribution channel, Australia and New Zealand Dietary Supplements Market is divided into Pharmacies & Drug Stores, Supermarkets & Hypermarkets, and Online Channels segments. The pharmacies & drug stores segment is the largest distribution channel in Australia and New Zealand Dietary Supplements Market, The due to the high consumer trust in pharmacies and drug stores for quality products and professional advice. These outlets are perceived as reliable sources for purchasing dietary supplements, contributing to their market leadership. The accessibility and extensive reach of pharmacies and drug stores across both urban and rural areas further bolster their position as the leading distribution channel in the Dietary Supplements Market in Australia and New Zealand.

Australia and New Zealand Dietary Supplements Market – By End User

Based on end user, Australia and New Zealand Dietary Supplements Market is divided into Infant, Children, Adults, Pregnant Women, and Old-Aged segments. Adult is the largest end user segment in Australia and New Zealand Dietary Supplements Market. Adults encompass a wide range of individuals in the adult age bracket, including young adults, middle-aged individuals, and seniors. It typically includes those seeking supplements to support overall health, address specific nutritional deficiencies, or enhance athletic performance. With a diverse range of needs and interests, the adult segment constitutes a significant portion of the Market, driving innovation and demand for various dietary supplements tailored to their specific requirements and lifestyles.

Competitive Landscape

Major players in Australia and New Zealand Dietary Supplements Market include Lipa Pharmaceuticals, BJP Laboratories, Planet Herb, Premium Blends, International Protein, Nutraviva, Pro Amino, New Zealand Health Manufacturing, New Zealand Nutritionals, and The Good Vitamin Co. To further enhance their Market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In June 2022 – Nestle Health Science, acquired The Better Health Company (TBHC), the holding for GO Healthy, Egmont, and CDH Investments. As part of this agreement, Nestle Health Science purchased ‘The Better Health Company.’ It includes the top supplement company in New Zealand, GO Healthy, the New Zealand Health Manufacturing facility that produces vitamins, minerals, and supplements, and the Egmont Manuka honey label.

• In January 2023 – The Therapeutic Products Bill (TPB) was presented for the first time in New Zealand. It included clauses that would categorize some medical foods and herbs as “drugs,” rendering them unavailable to the general population without a prescription from a doctor. Any food or herb with therapeutic potential would be illegal to access under the New Zealand TPB proposal.

Scope of the Report

By Form

• Tablets

• Capsules

• Powders

• Liquids

• Soft Gels

By Distribution Channel

• Pharmacies and Drug Stores

• Supermarkets and Hypermarkets

• Online Channels

By Application

• Additional Supplements

• Medicinal Supplement

• Sports Nutrition

By End User

• Infant

• Children

• Adults

• Pregnant Women

• Old-Aged