Rising prevalence of chronic diseases coupled with increased use of supplements for preventive well-being in the Country to Drive Nutraceuticals Market in Australia
Women consumers have been observed as the major user of nutraceuticals in Australia. It was noted that in 2014 three-quarters of the population which included 92.0% of women aged 20-24 used at least one dietary supplement for well-being. Similarly, the statistics also reported that 73.0% of first-time mothers-to-be, 62.0% of expected mothers and 44.0% women in general bought vitamins in year 2013. There has been increased use of complementary and alternative medicines in women during pregnancy and childbirth in Australia as 91.0% of pregnant women in the country desire to be proactive in health seeking behaviors. Blackmores Pregnancy & Breast-Feeding Gold is a popular supplement that provides an ideal daily dose of 20 important nutrients for mother and baby including folic acid, iodine, DHA and vitamin D3 with a low-constipation iron.
Increased use of the complementary medicines by women of age 40-65 who accounted for 14.0% of the Australian population was also observed in Australia in 2015. Women of this age in Australia tend to consume nutraceuticals in case of menopause as it had been a major challenge in Australia for women. The decline or the absence of estrogen leads to changes in energy levels, memory, bone health, hormones, urinary and heart health in a woman after menopause so it is important for women to take menopause vitamins to keep them healthy and strong. Many supplements are available in the market such as Forelife Menopause Care Tab X 60 (designed to relieve menopausal symptoms, promote a healthy sex drive and support strong, healthy bones, hair and fingernails.), Swisse Ultiboost Evening Primrose Oil (premium quality formula to provide premenstrual support for women, help maintain healthy skin and support general health and wellbeing) and Blackmores Menopause Day/Night Relief (menopause formula specifically tailored for day & night use which contains a clinically trailed dose of soy isoflavones to relieve menopausal hot flushes with regular use, with the addition of herbs traditionally used to provide relief of irritability, mild anxiety, difficulty sleeping and low libido).
The revenues of Australia nutraceuticals market are observed to continuously increase at a high pace during the historical period. 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.
The report titled “Australia Nutraceuticals Market Outlook to 2021 – Rising Prevalence of Chronic Diseases coupled with Elevated Use among Women to Foster Future Growth” by Ken Research suggested that nutraceuticals market in Australia would showcase a robust growth during the forecast period. 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.
Ankur Gupta, Head Marketing & Communications