Australia Dietary Supplements Market (2024-2030) | Growth, Trends, Value, Revenue, Companies, Outlook, Analysis, Share, Forecast, Size & Industry

Australia Dietary Supplements Market | Country-Wise Share and Competition Analysis

In the year 2021, UK was the largest exporter in terms of value, followed by Germany. It has registered a growth of 41.03% over the previous year. While Germany registered a decline of -40.91% as compare to the previous year. In the year 2017 Indonesia was the largest exporter followed by Germany. In term of Herfindahl Index, which measures the competitiveness of countries exporting, Australia has the Herfindahl index of 2545 in 2017 which signifies high concentration also in 2021 it registered a Herfindahl index of 1579 which signifies moderately concentrated in the market.

Australia Dietary Supplements Market - Export Market Opportunities

Australia Dietary Supplements Market Highlights

Report Name	Australia Dietary Supplements Market
Forecast period	2024-2030
CAGR	3.1%
Growing Sector	Healthcare

Topics Covered in the Australia Dietary Supplements Market Report

Australia Dietary Supplements Market report thoroughly covers the market by ingredient, form application, End -user and distribution channel. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Australia Dietary Supplements Market Synopsis

Australia Dietary Supplements Market is driven by the populace's heightened health consciousness and their increasing reliance on supplements to fulfill their nutritional needs. Stringent government oversight, principally by the TGA, ensures that these supplements adhere to rigorous safety and efficacy standards. Although the landscape is challenged by the knowledge gap in consumers about the implications of improper supplement use, the market's trajectory continues to be positive. Innovations, particularly in personalized nutrition, hold the promise of propelling the market forward, provided that industry players continue to emphasize regulatory compliance and consumer education to navigate the fine line between market expansion and public health safeguards. As the industry navigates this growth, the synergy among supplement manufacturers, healthcare experts, and regulators will be pivotal in cultivating a market that is both robust and responsible.

According to 6Wresearch, the Australia Dietary Supplements Market size is projected to grow at the CAGR of 3.1% during the forecast period of 2024-2030. There are several factors driving the growth of the dietary supplements market in Australia. The first and foremost is the increasing awareness among consumers about maintaining good health and preventing diseases. People are now more inclined towards taking care of their well-being, and this has led to a rise in demand for dietary supplements. Moreover, with the aging population in Australia, there is a growing concern for maintaining a healthy lifestyle and preventing age-related health issues. This has also contributed to the increased consumption of dietary supplements. Another major driver of the market is the rise in disposable income and changing lifestyles of people. With increasing urbanization and busy schedules, individuals are looking for convenient ways to meet their daily nutritional requirements, which has led to the popularity of dietary supplements.

Despite the growth potential, there are certain challenges that the Dietary supplements market in Australia faces. One of the major challenges is government regulations and strict labeling requirements for these products. The Australian Therapeutic Goods Administration (TGA) regulates dietary supplements as therapeutic goods, which means they must meet certain safety and quality standards before being sold in the market. Moreover, there is also a lack of awareness among consumers about the potential risks and side effects associated with certain dietary supplements. This can lead to misuse or overuse of these products, which can have adverse effects on their health.

Government policies and schemes introduced in the Australia Dietary Supplements Market

The Australian government has enforced stringent regulatory standards to ensure the safety and efficacy of dietary supplements available in the market. The Therapeutic Goods Administration (TGA) oversees the regulation of complementary medicines, including dietary supplements, through the Therapeutic Goods Act 1989. Moreover, the government has introduced schemes like the Australian Register of Therapeutic Goods (ARTG), which requires all supplements to be listed or registered on this database before they can be marketed. This assures that the products meet high-quality standards and are safe for consumption. Consumer awareness initiatives and educational campaigns are also periodically pursued by authorities to inform the public regarding the proper use of dietary supplements.

Leading players in the Australia Dietary Supplements Market

The Australia Dietary Supplements Industry comprises a competitive landscape with key players such as Blackmores Limited, Swisse Wellness Pty Ltd, and PharmaCare Laboratories being at the forefront. These industry leaders are committed to providing high-quality products that comply with the TGA's regulatory framework. Their market dominance is further attributed to strong brand recognition, expansive product portfolios, and strategic marketing initiatives. These companies also partake in research and development to innovate and introduce new products, catering to the evolving health trends and consumer preferences within the Australian market.

Future Insight of the Australia Dietary Supplements Market

The Australia Dietary Supplements Market Growth, will be spurred by increasing health consciousness among consumers and an aging population seeking wellness-focused lifestyle changes. Advances in personalized nutrition, combining biotechnology and artificial intelligence, are likely to shape product innovation, enabling tailored supplements that cater to individual dietary requirements and health conditions. Moreover, the pandemic has underscored the importance of immunity-boosting products, which will remain in high demand. Sustainable and ethical sourcing of ingredients, along with transparent labelling, are set to become more influential in consumer purchasing decisions, as the market trends towards organic and plant-based supplements.

Market analysis by Ingredient

On the basis of ingredients, vitamins are expected to dominate the market due to their multiple health benefits and increasing consumer preference towards natural and organic products.

Market analysis by form

In terms of form, tablets are expected to hold the largest share in the market, this can be attributed to their convenience and ease of consumption for individuals with busy lifestyles.

Market analysis by Application

On the basis of application, energy and weight management supplements dominate the market, with a significant share of the overall market. This can be attributed to the increasing prevalence of obesity and a growing desire for a healthy and active lifestyle among Australians.

Market analysis by End -user

According to Ravi Bhandari, Research Head, 6Wresearch, on the basis of end -user, the adult segment is expected to hold the largest market share. This can be attributed to the increasing health consciousness among adults and their growing interest in preventive healthcare measures.

Key attractiveness of the report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023.
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Australia Dietary Supplements Market Outlook
• Market Size of Australia Dietary Supplements Market, 2023
• Forecast of Australia Dietary Supplements Market, 2030
• Historical Data and Forecast of Australia Dietary Supplements Revenues & Volume for the Period 2020 - 2030
• Australia Dietary Supplements Market Trend Evolution
• Australia Dietary Supplements Market Drivers and Challenges
• Australia Dietary Supplements Price Trends
• Australia Dietary Supplements Porter's Five Forces
• Australia Dietary Supplements Industry Life Cycle
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Ingredient? for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Vitamins for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Botanicals for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Minerals for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Proteins & Amino Acids for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Fibers & Specialty Carbohydrates for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Omega Fatty Acids for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Form? for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Tablets for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Capsules for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Soft gels for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Powders for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Gummies for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Liquids for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Application? for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Energy & Weight Management for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By General Health for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Bone & Joint Health for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Gastrointestinal Health for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Immunity for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Cardiac Health for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Diabetes for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By End user for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Adults for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Geriatric for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Pregnant Women for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Children for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Infants for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Distribution Channel for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By OTC for the Period 2020 - 2030
• Historical Data and Forecast of Australia Dietary Supplements Market Revenues & Volume By Prescribed for the Period 2020 - 2030
• Australia Dietary Supplements Import Export Trade Statistics
• Market Opportunity Assessment By Ingredient?
• Market Opportunity Assessment By Form?
• Market Opportunity Assessment By Application?
• Market Opportunity Assessment By End user
• Market Opportunity Assessment By Distribution Channel
• Australia Dietary Supplements Top Companies Market Share
• Australia Dietary Supplements Competitive Benchmarking By Technical and Operational Parameters
• Australia Dietary Supplements Company Profiles
• Australia Dietary Supplements Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Ingredient

• Vitamins
• Botanicals
• Minerals
• Proteins & Amino Acids
• Fibers & Specialty Carbohydrates
• Omega Fatty Acids
• Others

 By Form

• Tablets
• Capsules
• Soft Gels
• Powders
•  Gummies
•  Liquids
•  Others

 By Application

• Energy & Weight Management
• General Health
• Bone & Joint Health
• Gastrointestinal Health
• Immunity
• Cardiac Health
• Diabetes
• Others

Adults

• Geriatric
• Pregnant Women
• Children
• Infants

By Distribution Channel

• OTC
• Prescribed