Report Overview

The rising prevalence of lifestyle diseases and growing health awareness are expected to boost the growth of Australia & New Zealand Nutritional Supplements Market during the forecast period between 2024 and 2030.

Australia & New Zealand Nutritional Supplements Market - Industry Trends & Forecast Report, 2030

Australia & New Zealand Nutritional Supplements Market size was estimated to be worth USD 5.38 billion in 2023. During the forecast period between 2024 and 2030, Australia & New Zealand Nutritional Supplements Market size is projected to grow at a CAGR of 9.10%, reaching a value of USD 9.72 billion by 2030. Major growth factors for Australia & New Zealand Nutritional Supplements Market include rising prevalence of various non-communicable diseases due to poor lifestyle and eating habits and growing health consciousness among consumers. The COVID-19 outbreak also accelerated the adoption of supplements in the country, propelling the overall growth of Australia & New Zealand nutritional supplements market.

Nutritional Supplements – Overview

Nutritional supplements, often known as food supplements or dietary supplements, are products made to provide nutrients that may be lacking in the diet. Nutritional supplements can positively affect health if taken properly and under a doctor's supervision. Typically, they are consumed as pills, capsules, powders, or liquids. Nutritional supplements are not prescription drugs that can be used to treat illnesses or other conditions. These are full of nutrients that can be obtained from synthetic sources or plant sources.

Australia & New Zealand Nutritional Supplements Market

Growth Drivers

Rising Awareness about Health and Wellness

Australia & New Zealand Nutritional Supplements Market  is witnessing substantial growth owing to the growing health consciousness among consumers. People are increasingly focusing on preventive healthcare in the wake of rising prevalence of various lifestyle and chronic diseases. As a result, the demand for health-enhancing products, including dietary supplements is rising at a high rate. Furthermore, other factors like high disposable income and large consumer base, including both young and old, are also driving the growth of nutritional supplements market in Australia & New Zealand.

Challenges

Side Effects of Overconsumption

Nutritional supplements are gaining traction owing to its favorable effects on health. Supplements with nutrients promote health. But excessive use of these supplements, or even addiction to them, can have fatal consequences. For example, high vitamin A dosages can lead to birth abnormalities, migraines, and a decrease in bone strength. In order to lessen their dependency on nutritional supplements, people are changing to better lifestyles or eating more organic food, which might have a negative effect on the market for nutritional supplements in Australia & New Zealand.

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

The escalating geopolitical tension negatively impacts the growth of Australia & New Zealand Nutritional Supplements Market. Geopolitical conflicts leads to supply chain disruption, which directly affects the availability and cost of raw materials used in the production of nutritional supplements. These tensions also pose logistic challenges for the market as it hinder shipping routes, which causes delays and increased shipping costs. Geopolitical tensions may also result in new tariffs or trade restrictions imposed by countries, which may impact the import and export of nutritional supplements in the region. These can also deter market investment with investors reluctant to invest due to instability and slow down of the market.

Australia & New Zealand Nutritional Supplements Market

Segmental Coverage

Australia & New Zealand Nutritional Supplements Market – By Form

Based on form, Australia & New Zealand Nutritional Supplements Market is segmented into powder, tablets, capsules, liquid, soft gels, and others. The capsules segment accounts for the highest share in Australia & New Zealand nutritional supplements market. Compared to tablets, capsules are quicker and absorb more readily. Moreover, capsules are more effective as more drug reaches the bloodstream due to their increased bioavailability. On the other hand, it is projected that the powder segment will expand rapidly throughout the projected time. The market expansion of powdered nutritional supplements is driven by their greater commercial presence and ease of accessibility.

Australia & New Zealand Nutritional Supplements Market – By Product Type

On the basis of product type, Australia & New Zealand Nutritional Supplements Market is segmented into sports nutrition, dietary supplements, fat burner, functional food, and others. The dietary supplements segment holds the largest share of the market. Dietary supplements are used to enhance and preserve general health. These supplements offer a variety of vital nutrients, including calcium, vitamins, folic acid, omega-3, and fatty acids, that lower the risk of certain medical disorders. It is also anticipated that the functional food market would expand rapidly over the course of the period in analysis.

Australia & New Zealand Nutritional Supplements Market – By Age Group

Based on age group, Australia & New Zealand Nutritional Supplements Market is segmented into kids, adults, and geriatric. The adults segment holds the largest share in Australia & New Zealand Nutritional Supplements Market by age group. The usage of nutritional supplements is increasing in the region due to the high labor force participation rate and the increased incidence of lifestyle illnesses among working individuals. Numerous lifestyle disorders, including hyperlipidemia (high cholesterol), stroke, hypertension (high blood pressure), and diabetes, are becoming more and more common. Customers in Australia and New Zealand are now more aware of their health, which has raised demand for dietary supplements in the area.

Australia & New Zealand Nutritional Supplements Market – By Distribution Channel

By distribution channel, Australia & New Zealand Nutritional Supplements Market is segmented into supermarkets/hypermarkets, specialty stores, pharmacies, e-commerce, and others. The most popular distribution method for purchasing supplements is pharmacies, which control the majority of the Australia & New Zealand nutritional supplements market. Australia and New Zealand has a large number of commercial and public pharmacies with licenses, which makes supplements more easily accessible there. Numerous pharmacies are open 24/7 and provide a large selection of goods, expanding their consumer base and fostering market expansion. On the other hand, the e-commerce category is expected to expand at the fastest rate in Australia & New Zealand Nutritional Supplements Market by distribution channel.

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.

Recent Developments

• In June 2024 – Fixx Nutrition, a sports nutrition brand based in Australia, launched its Fixx Gel X Pro range, a new range of all natural supplements.

Scope of the Report

By Form

• Powder

• Tablets

• Capsules

• Liquid

• Soft gels

• Others

By Product Type

• Sports Nutrition

• Dietary Supplements

• Fat Burner

• Functional Food

• Others

By Age Group

• Kids

• Adults

• Geriatric

By Distribution Channel

• Supermarkets/Hypermarkets

• Specialty Stores

• Pharmacies

• E-commerce

• Others