Australia Nutraceuticals Market Outlook to 2021 – Rising Prevalence of Chronic Diseases Coupled with Elevated Use among Women to Foster Future Growth

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Australia Nutraceuticals Market Outlook to 2021 – Rising Prevalence of Chronic Diseases Coupled with Elevated Use among Women to Foster Future Growth” provides a comprehensive analysis of Australia nutraceuticals market. The report focuses on overall market size for Australia nutraceuticals market, Australia nutraceuticals market segmentations on the bases of dietary supplements, functional food & beverages and distribution channels, dietary supplements sub-segmentation by type of supplements, functional foods and beverages sub-segmentation by product category. The report also covers Government Regulations for nutritional and dietary supplements in Australia, import and export scenarios of nutritional and dietary supplements in Australia, trends & developments in the market and competitive landscape of major players in Australia Nutraceuticals Market. The report concludes with market projection for future and analyst recommendation highlighting the major opportunities and cautions.

Australia Nutraceuticals Market Size
In 2016, revenues of the overall industry including nutritional products such as dietary supplements and functional food and beverages accounted to USD ~ million, exhibiting high growth at a CAGR of ~%, from USD ~ million noted in 2011. High awareness about the health products, economic stability to purchase expensive health nutraceuticals and easy availability of highly priced branded products are major factors which acted as major drivers for the growth of nutraceuticals market in Australia. Additionally, information and public health campaigns from government about the importance of healthy diet and exercise regime has led Australians to use the nutritional supplements at an extensive rate, hence generating revenue for the market. In October 2016, Safety and Health workshops were held by WorkSafe Division of the Department of Commerce in which there was an opportunity for business owner, employer, manager, supervisor, safety and health representative to hear and learn from presenters with a wealth of occupational safety and health industry experience and expertise and gain tools, techniques and strategies.

Australia Nutraceuticals Market Segmentation
Australia Nutraceuticals market is segmented on the basis of three major segments- by dietary supplements, by functional foods and beverages market and by distribution channels. The dietary supplements segmentation is sub-segmented on the basis of types of supplements. Functional Foods and beverages market is further sub-segmented on the basis of food category.

By Dietary Supplements, and Functional Foods and Beverages
Functional foods and beverages dominated the Australia nutraceuticals market with revenue share of ~% in 2016. With an increase in the ageing population, there has been an increase in the demand for healthy ageing supplements in the form of functional foods and supplements. Geriatric population is observed to consume extensive functional foods and beverages for health issues such as cardiovascular diseases, diabetes, blood pressure and osteoporosis. However, the market of dietary supplements in Australia is majorly observed to be driven by the women who have been consuming nutraceuticals for pregnancy, menopause and as beauty supplement.

By Distribution Channel
Pharmacies were responsible for the highest share of the sales of nutraceuticals in 2016 which accounted for ~% revenue share. Para pharmacies and online retailers, such as Chemist Warehouse Group gained high market share. The major reason behind the dominance of the segment is that majorly prescribed dietary supplements are available only at pharmacies, resulting in high sales from the source. Moreover, there has been increase in the customers taking self-medication without the advice of doctors in form of OTC medicines, hence generating revenue for the pharmacies. Other major distribution channels include mass merchandisers, door-to-door sales, convenience stores, and mail orders.

Dietary Supplements Segmentation by Type of Supplements
Vitamins and minerals dominated the market with revenue share of ~% in 2016. With the ageing population, the diseases such as osteoporosis are increasing in Australia and have resulted into increased demand for vitamin and mineral supplements. The same could be advocated from the fact that ~% of adults were suffering from Vitamin D deficiency in 2011-12 owing to less exposure to sunlight, due to which doctors are prescribing vitamin supplements to the people in Australia. Omega 3 fatty acids grew rapidly recording CAGR of ~% from 2011-2016, which is second highest among the dietary supplements market. The reasons attributed can be stated as the high prevalence of cardiovascular disease, which is on increase in Australia and as a part of treatment; doctors in Australia prescribe omega 3 fatty acids supplements.

Functional Foods and Beverages Market Segmentation by Food Category
Health segment dominated the functional food and beverages market with a revenue share worth ~% in Australia functional foods and beverages market in year 2016. With the increase in prevalence of diseases caused due to obesity and ageing among Australians, there has been increase in the health supplements over the years. Due to ageing, it is difficult for the body to absorb nutrients from the food and with the loss of appetite and lower levels of Vitamin D in the elderly; the requirement for the health supplements is high. Doctors in Australia tend to prescribe more number of health foods to fulfill the deficiencies of nutrients which cause diseases.

Competitive Landscape
Blackmores is leading the Australian Nutraceuticals market majorly due to the trust factor associated with the company and range of quality, innovation and integrity products that it provides with more than 80 years of expertise. There are various products such as vitamins, minerals, herbal and nutritional supplements tailoring to the lifestyle and the bestsellers include Fish Oil 1000, Glucosamine Sulphate 1500 One – A Day, Pregnancy and Breast Feeding Gold, Evening Primrose Oil, Natural Vitamin E Cream, CoQ 10; which are generating high revenue for the company and are responsible for dominating share of Blackmores in 2016. Other major players operating in market include Pharmacare and Vitaco.

Future Outlook and Projections
Australia Nutraceuticals market is expected to grow at a CAGR of ~% during the forecast period owing to high awareness and information and public health campaigns from government about the importance of a healthy diet and exercise regime. The demand for supplements pertaining to well-being in Australia is anticipated to be high especially in the sport supplement section. The fastest growing segment has been protein bar while protein powders are expected to record increased sales and these segments are further expected to increase. There is expected to be increase in the use of supplements by women also in the cases of pregnancy, childbirth and menopause with the increase in female aged population and rising awareness about nutraceuticals. The reason for the same could be anticipated from the promotion of the pregnancy and menopause supplements by the companies. This will further impact the market in a positive manner leading to more usage of supplements.

Key Topics Covered in the Report:

  • Introduction to Australia Nutraceuticals Market
  • Australia Nutraceuticals market size, 2011-2016
  • Australia nutraceuticals market segmentation by Dietary Supplements, and Functional Foods & Beverages and Distribution channels
  • Dietary Supplements segmentation by type of supplements
  • Foods and Beverages Market Segmentation by Product Category
  • Regulatory Landscape of Australia
  • Competitive Landscape of Major Players in Australia Nutraceuticals Market
  • Import & Export Scenario of Nutritional and Dietary Supplements in Australia
  • Major Trends and developments
  • Analyst Recommendations
  • Australia Nutraceuticals Future Outlook and Projections, 2016-2021

Source: https://www.kenresearch.com/healthcare/pharmaceuticals/australia-nutraceuticals-market-report/121465-91.html

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