By international comparison of wealth, education, health and quality of life, Australia ranks as one of the best countries to live in the world. The sixth-largest country by land mass, its population is comparably small with most people living around the eastern and south-eastern coastlines. Precisely, Australia is ranked third among the eleven countries that make up the world’s wealthiest countries. The Australian region not only uses the medications but also uses dietary supplements to maintain good health among the citizens of the nation. Dietary and food supplements in Australia are regulated by the Therapeutic Goods Administration, or TGA. According to the Bonafide Research report titled, "Australia Dietary Supplements Market Overview, 2027," the Australian dietary supplements market is observed considering the different segments of the nation and also considering the COVID-19 effects. The market is expected to show growth in the future with a CAGR of more than 7%. More than 8 million people in Australia use the dietary supplement. The Australian dietary supplement market is a low-risk and stable market. The industry’s overall profit is subjected to a profit margin of around 37%.
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The dietary supplement type market is considered to grow with vitamin supplements being the most dominating in the future with a CAGR of around 5.5%. Following vitamins, botanicals have the market attractiveness. The rise in demand for herbal supplements will increase the market for botanicals. Most of these supplements in the Australian region are used for skin care and to make the skin glow. The vitamin supplements are used to maintain the deficiency level among the citizens. Most people in Australia suffer from vitamin D deficiency. Moreover, vitamins, botanicals and other dietary supplements are in demand because of the increase in awareness about health care. Other than this, dietary supplements are also driven by youngsters and sports enthusiasts. The market by formulation type has tablets as the most dominant form in the Australian dietary supplement market. The written description of complete dosage forms and the instructions of how much to be used on dietary tablets and the affordability drive the market size for the tablet formulations. Moreover, capsules are easy to swallow, and their faster acting ability in the body drives the market attractiveness for the formulation market. Overall, both formulations show the growth potential for the dietary supplement market size. The popularity of protein powder amongst gym hitters and sports enthusiasts also drives the market size for the powder formulations. The powder formulations are also used to maintain the overall body growth for children when they consume the dietary supplement with the mixture of milk. These help them to maintain functional growth as well as nutritional growth. Furthermore, by end user type, adults are the most dominant end users of the dietary supplement market. Adult women in Australia are the major consumers of dietary supplements. Around 50% of women in Australia consume dietary supplements. The Australians' having a busy schedule makes them consume more of the dietary supplements as they may sometimes go through anxiety and chronic disorders. Moreover, citizens use the dietary supplements to reduce their overall workload stress. Older people are also considered to use dietary supplements in more quantity as these people may go through chronic disorders that may lead them to use dietary supplements. The increase in the population of adults also drives the market for the adult end-user types. Lastly, for the market by application type, the energy and weight management applications dominated in the year 2021. The Australian region is one of the regions known for Australian football, where different players across the nation come to play. The Australian region is also famous for its work schedules that require whole-day work. There is also an expectation that the number of AFL matches, that is, Australian football matches, will be increased in the upcoming future years. And also, the work schedule is also expected to increase. Therefore, because of this reason, the Australians require more energy. However, more than 57% of people are obese or over weight. The population of these people is also expected to increase because of the increased population pattern of Australians. Therefore, the energy and weight management market attractiveness is expected to grow.
Additionally, the pandemic also had an impact on the Australian dietary supplement market. The COVID-19 impact has shown a positive impact on the dietary supplements market. The increase in health consciousness and mental fitness during the lockdown increased the demand for the dietary supplements. The impact of COVID-19 led people to use more herbal products like botanical supplements. Overall, the impact of COVID-19 has shown a positive market for dietary supplements. Some formulations and dietary supplements are expected to rise in popularity. The COVID-19 effect caused the sale of dietary supplements in supermarkets and pharmacies to increase by more than $2 billion in Australia by 2021. Considered in this report • Geography: Australia • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Australia dietary supplements • by application type market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation
Based on by type of dietary supplement in the report: • Vitamins • Minerals • Botanicals • Amino acids • Probiotics • Other types Based on by form type in the report: • Tablets • Capsules • Powder • Liquids • Other formulations Based on by end user type market in the report: • Adults • Infants and children • Pregnant women • Other end users Based on by application type market in the report: • Energy and weight management • Bone and joint health • Immunity and digestive health • General health • Cardiac health • Other applications The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to medical industry, protein supplement manufacturers, suppliers, associations & organizations related to dietary supplements market, trends and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.