Australia Nutraceuticals Market Size, Growth | Forecast 2031
Australia Nutraceuticals Market Size, Growth | Forecast 2031
Segments - Australia Nutraceuticals Market by Product Types (Functional Foods [Cereals, Bakery and Confectionery, Dairy, Snacks, and Others], Functional Beverages [Energy Drinks, Sports Drinks, Fortified Juice, Dairy and Dairy Alternative Beverages, and Others), and Dietary Supplements [Vitamins, Minerals, Botanicals, Enzymes, Fatty Acids, Proteins, and Others]), and Distribution Channels (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, and Online Retail Stores) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :FB-4130
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| 221 Pages
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Report Description
The Australia nutraceuticals market size was valued at USD 6.43 Billion in 2022 of and is likely to reach USD 10.01 Billion by 2031, expanding at a CAGR of 5.04% during 2023–2031. The growth of the market is attributed to the growing preference for personalized nutrition.
Nutraceuticals are items derived from food sources that provide health advantages and extra nourishment to the human body. They are commonly available in dairy-based concentrates, confectionery fruit and vegetable juice, energy drink, and snack bar variants. They are rich source of various nutrients, such as vitamins, minerals, antioxidants, zinc, and calcium, which improve the overall health of consumers.
Nutraceuticals are widely used to delay aging, improve health, prevent chronic diseases, increase life expectancy and increase metabolism. They also assist in combating various chronic medical ailments, such as allergies, high cholesterol levels, hypertension, obesity, heart disease, cancer, osteoporosis, and diabetes. Nutraceuticals are widely available in the form of capsules, powder, liquid tablets, soft gels, and gummies.
They are widely consumed due to their enhanced safety, efficacy, purity, health promotion, and disease curing activities.
In comparison to the traditionally used pharmaceuticals, nutraceutical products are natural and have improved physiological benefits with minimal or no side effects.
Australia Nutraceuticals Market Trends, Drivers, Restraints and Opportunities
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Rising awareness regarding calorie reduction and weight loss is one of the key factors fueling the market.
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Rising demand for nutraceuticals with medical benefits is estimated to positively influence the market growth during the forecast period.
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Rapid urbanization and the increment in mindfulness about health advantages related to organic products is expected to contribute to the growth of the market during the forecast period.
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Growing geriatric population is estimated to accelerate the growth of the market.
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Lack of proper government regulations the major factors that can hamper the market growth in the coming years.
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Increasing demand for functional food and beverages is expected to contribute to the market.
Scope of Australia Nutraceuticals Market Report
The report on the Australia nutraceuticals market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Nutraceuticals Market - Australia Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Product Types (Functional Foods [Cereal, Bakery and Confectionery, Dairy, Snacks and Others], Functional Beverages [Energy Drinks, Sports Drinks, Fortified Juice, Dairy and Dairy Alternative Beverages, and Others) and Dietary Supplements [Vitamins, Minerals, Botanicals, Enzymes, Fatty Acids, Proteins, and Others]), and Distribution Channels (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, and Online Retail Stores) |
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Country Scope |
Australia |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Amway Australia; Kellogg Australia Pty. Ltd; Herbalife Australia; General Mills Australia Pty. Ltd; and Nestle Australia Ltd. |
Australia Nutraceuticals Market Segment Insights
Dietary supplements segment is expected to expand at a rapid pace
Based on product types, the market is divided into functional foods, functional beverages and dietary supplements. The functional foods is further classified as cereal, bakery and confectionery, dairy, snacks and others. The functional beverages is further classified as energy drinks, sports drinks, fortified juice, dairy and dairy alternative beverages, and others.
The dietary supplements segment is further segmented into vitamins, minerals, botanicals, enzymes, fatty acids, proteins, and others. The dietary supplements segment is expected to grow at a rapid pace during the forecast period owing to suitable demographics, such increasing aging population and costs of healthcare and preference for dietary supplements.
Online stores segment is anticipated to constitute a key market share
On the basis of distribution channels, the Australia nutraceuticals market is categorized as specialty stores, supermarkets/hypermarkets, convenience stores, drug stores/pharmacies, and online retail stores. The online stores segment is projected to expand at a considerable CAGR during the forecast period. Online stores attributes to ease of shopping from a remote location.
An online stores provides advantages such as automated software up gradations, remote accessibility, easy scalability, disaster recovery, and storage flexibility.
Segments
Australia nutraceuticals market has been segmented on the basis of
Product Types
- Functional Foods
- Cereals
- Bakery and Confectionery
- Dairy
- Snacks
- Others
- Functional Beverages
- Energy Drinks
- Sports Drinks
- Fortified Juice
- Dairy and Dairy Alternative Beverages
- Dietary Supplements
- Vitamins
- Minerals
- Botanicals
- Enzymes
- Fatty Acids
- Proteins
- Others
Distribution Channels
- Specialty Stores
- Supermarkets/Hypermarkets
- Convenience Stores
- Drug Stores/Pharmacies
- Online Retail Stores
Country
- Australia
Key Players
- Amway Australia.
- Herbalife Australia
- Kellogg (Aust.) Pty. Ltd.
- Nestle Australia Ltd.
- General Mills Australia Pty. Ltd.
Competitive Landscape
Key players in the Australia nutraceuticals market are Amway Australia; Kellogg Australia Pty. Ltd; Herbalife Australia; General Mills Australia Pty. Ltd; and Nestle Australia Ltd.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Nutraceuticals Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Nutraceuticals Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Nutraceuticals Market - Supply Chain
4.5. Global Nutraceuticals Market Forecast
4.5.1. Nutraceuticals Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Nutraceuticals Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Nutraceuticals Market Absolute $ Opportunity
5. Global Nutraceuticals Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Nutraceuticals Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Nutraceuticals Demand Share Forecast, 2019-2026
6. North America Nutraceuticals Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Nutraceuticals Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Nutraceuticals Demand Share Forecast, 2019-2026
7. Latin America Nutraceuticals Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Nutraceuticals Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Nutraceuticals Demand Share Forecast, 2019-2026
8. Europe Nutraceuticals Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Nutraceuticals Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Nutraceuticals Demand Share Forecast, 2019-2026
9. Asia Pacific Nutraceuticals Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Nutraceuticals Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Nutraceuticals Demand Share Forecast, 2019-2026
10. Middle East & Africa Nutraceuticals Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Nutraceuticals Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Nutraceuticals Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Nutraceuticals Market: Market Share Analysis
11.2. Nutraceuticals Distributors and Customers
11.3. Nutraceuticals Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Amway Australia.
11.4.2. Herbalife Australia
11.4.3. Kellogg (Aust.) Pty. Ltd.
11.4.4. Nestle Australia Ltd.
11.4.5. General Mills Australia Pty. Ltd.
Methodology
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