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Australia Nutraceutical Market - Growth, Trends and Forecasts (2020 - 2025)

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The Australia nutraceuticals market is estimated to register a CAGR of 7.5%, during 2017-2022. Currently, the market value is around USD 8.59 billion and is expected to reach USD XX billion, by 2022.  Australia is an established market for nutraceuticals in the Asia-Pacific region, which contributed to about 5% of the global nutraceutical market in 2016. The increasing prevalence of chronic diseases and the aging demography are presenting opportunities for the nutraceutical industry.

The Growing Health Concern is a Major Driver for tje Australian Nutraceutical Market

 Women are the largest consumers of nutraceutical products in Australia. However, the market is largely driven by the increasing rate of obesity in the masses. Therefore, the primary health concern of the country is expected to drive the product portfolio of nutraceuticals in the coming years. Further, the companies are expected to increase their focus on health issues, such as obesity, heart health, diabetes prevention and cholesterol levels.

Higher the Heath Awareness Growing Among Population = Higher the Demand of Nutraceutical Products in Australia

Functional Food is the Largest Segment of the Nutraceutical Market

The Australian nutraceutical market is segmented into two major categories, such as type and application. The phytochemicals and plant extracts are the top two categories under the type segment. Based on application segment, the functional beverage is the largest segment, with about 36% market share, followed by functional food, dietary supplements and others.

Investment Opportunities

 The natural and plant-based nutraceutical products demand is a major investment opportunity in the Australian market. Algal-based omega-3 fatty acids, a natural algal-extracts, is the new trend in the Australia nutraceutical market. The application of algal-based omega3 fatty acids in various foods, drinks and pharmaceuticals is, further, opening a great investment opportunity.

NOTABLE MARKET DEVELOPMENTS

  • Creso launched cannabidiol (CBD), which is a cannabis and hemp-based therapeutic-grade CBD nutraceuticals in the European and Australian region, it is a new innovation as it uses cannabis in nutraceutical product for human and animal health. 

 Understanding

Our report on the Australia nutraceutical market covers the following:

  • Nutraceutical market, trends & dynamics
  • Latest News & developments
  • Porter’s five forces analysis
  • Investment scope
  • Deep-dive insights

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