Nutraceuticals in Australia Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Australia Nutraceuticals Market is segmented by Product Type (Functional Food, Functional Beverage, and Dietary Supplements) and Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, Drug Stores/Pharmacies, and Online Retail Stores). The market size and forecasts are provided in terms of value (USD million) for all the above segments.

Australia Nutraceuticals Market Size

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Australia Nutraceuticals Market Summary
Study Period 2018 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 7.09 Billion
Market Size (2029) USD 9.06 Billion
CAGR (2024 - 2029) 5.04 %
Market Concentration Low

Major Players

Australia Nutraceuticals Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Australia Nutraceuticals Market Analysis

The Australia Nutraceuticals Market size is estimated at USD 7.09 billion in 2024, and is expected to reach USD 9.06 billion by 2029, growing at a CAGR of 5.04% during the forecast period (2024-2029).

The Australia Nutraceuticals industry is continually growing despite a dip in export revenue after the pandemic, as firms are innovating new immunity-based products and utilizing sustainable manufacturing techniques. After the pandemic, the country's people have become more aware of health issues, and the benefits of nutraceuticals like available breakfast cereals and snack bars have been on the rise. The market is increasing due to the launch of products containing probiotics and immune-boosting ingredients, which, in turn, have boosted its growth in the country.

Furthermore, the rising demand for nutraceuticals with medical benefits is one of the major factors driving the nutraceutical market growth. They contain a high concentration of bioactive compounds such as antioxidants, polyunsaturated fatty acids, and others that help manage health issues like obesity, CVD, cancer, cholesterol, arthritis, and diabetes. The growing preference for personalized nutrition is one of the critical nutraceuticals market trends, which may further stimulate market growth. The customized nutrition trend is growing, particularly among individuals with gut-related medical conditions where generic treatment is ineffective.

Australia Nutraceuticals Market Trends

This section covers the major market trends shaping the Australia Nutraceuticals Market according to our research experts:

Increasing Elderly Population boosting Nutraceuticals Market in the Country

As Australians age and face rising healthcare costs, many are considering the link between health and diet. The functional food (Nutraceutical) industry is seizing opportunities with product innovation and market expansion. In Australia, consumers aged 35 & above are purchasing vitamins, minerals, and other supplements at a higher rate than consumers under 25. Additionally, Australian consumers are inclined to a healthy lifestyle, privileging natural, organic, and functional products that are friendly to the environment and by fair trade standards. Companies developing applicable food products have begun marketing to specific demographics, such as the aging population, young adults, and mothers. Nutraceutical products may be especially relevant for preventing or delaying several age-related diseases, such as arthritis, cancer, metabolic and cardiovascular diseases, osteoporosis, cataracts, brain disorders, etc. The Australian nutraceutical market is expanding due to the rising prevalence of chronic diseases and increased use among older women.

Functional foods such as cholesterol-reducing spreads, milk, and yogurt attract aging consumers. At the same time, parents are interested in products that may benefit their children's health, such as omega-3 and DHA-enriched products for brain development. Further, Australia's general rise in health consciousness was already boosting sales in this country, even before the pandemic arrived. At the same time, the aging of the Australian population offers fertile conditions for the further development of dietary supplements, particularly as consumers look to prevent the development of age-related diseases. This, in turn, is boosting the nutraceuticals market in the country.

Australia Nutraceutical Market: Elderly Population at 65 or Above (in million), Australia,2016-2021

Growing Demand for Dietary Supplements

Increasing demand for sports nutrition, on account of growing fitness trends and sports activities, and companies are launching new products that significantly impact the industry. For instance, in September 2022, Micro Mike in Australia introduced Protein Water, a clean and lean protein supplement with 12 grams of protein per serving, derived mainly from hydrolyzed pea protein peptides. Owing to suitable demographics, such as the increasing aging population and costs of healthcare, the preference for dietary supplements is also growing tremendously. Due to the rising number of personalized online systems available to consumers free of charge, manufacturers and retailers are beginning to offer free access to wellness tools, creating a customized vitamin list based on a consumer's specific conditions and needs. The major food groups that saw the greatest increase in dietary energy per capita per day between 2020-2021 were Dairy & meat substitutes rose 12.3% and Snack foods rose 2.3% according to the Australian Bureau of Statistics. In order to accommodate the rising demand, producers are developing new categories of dietary products. According to the Blackmores Annual Reports, the total grocery and pharmacy sales of vitamins and dietary supplements in Australia were AUD 1.8 billion in 2021. The growing prevalence of chronic diseases and advantages associated with botanical drugs over synthetic drugs, such as being safer with no adverse side effects and affordability, are driving the growth of this segment.

Australia Nutraceutical Market: Total Grocery and Pharmacy Sales Of Vitamins and Dietary Supplements (in billion AUD), Australia, 2018-2021

Australia Nutraceuticals Industry Overview

The Australian nutraceutical market is fragmented, with global and local players. Key players are focusing on social media platforms and online distribution channels for their online marketing and branding of their products to attract more customers. The platform has proved beneficial for players and newcomers since the audience size is vast, and discounted offerings make the platform more competitive than retail; Companies are focusing on meeting consumer demands through product innovations, expansions, and mergers and acquisitions. The key players in the market are Kellogg Australia Pty. Ltd, Herbalife Australia, General Mills Australia Pty. Ltd, Amway Australia, and Nestle Australia Ltd.

Australia Nutraceuticals Market Leaders

  1. Kellogg (Aust.) Pty. Ltd.

  2. Nestle Australia Ltd.

  3. General Mills Australia Pty. Ltd.

  4. Herbalife Nutrition Ltd

  5. PepsiCo, Inc

*Disclaimer: Major Players sorted in no particular order

Australia Nutraceuticals Market Concentration
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Australia Nutraceuticals Market News

  • In October 2022, Remedy Drinks introduced Remedy K! CK, an all-natural clean energy drink available at 7-Eleven stores across Australia. Remedy K! CK is available in three fruity flavors - Blackberry, Lemon Lime, and Mango Pineapple.
  • In July 2022, PureHarvest, an Australian organic and natural food company launched four new plant-based kinds of milk. The PureHarvest family now includes Organic Hazelnut Milk, Organic Cashew Milk, Australian Macadamia Milk, Creamy Oat Milk, and Organic Cashew Milk, adding to existing Almond, Oat, Soy, Rice, and Coconut milk options.
  • In June 2021, V Energy launched its new 'Can You Feel It' campaign in collaboration with Clemenger BBDO and Psyop, an award-winning animation production company; this campaign celebrates feeling your best and spreading positive vibes.

Australia Nutraceuticals Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Product Type

      1. 5.1.1 Functional Food

        1. Cereals

        2. Bakery and Confectionery

        3. Dairy

        4. Snacks

        5. Other Functional Foods

      2. 5.1.2 Functional Beverage

        1. Energy Drinks

        2. Sports Drinks

        3. Fortified Juice

        4. Dairy and Dairy Alternative Beverages

        5. Other Functional Beverages

      3. 5.1.3 Dietary Supplements

        1. Vitamins

        2. Minerals

        3. Botanicals

        4. Enzymes

        5. Fatty Acids

        6. Proteins

        7. Other Dietary Supplements

    2. 5.2 Distribution Channel

      1. 5.2.1 Specialty Stores

      2. 5.2.2 Supermarkets/Hypermarkets

      3. 5.2.3 Convenience Stores

      4. 5.2.4 Drug Stores/Pharmacies

      5. 5.2.5 Online Retail Stores


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Herbalife Australia

      2. 6.3.2 Kellogg (Aust.) Pty. Ltd

      3. 6.3.3 General Mills Australia Pty. Ltd

      4. 6.3.4 PepsiCo Australia & New Zealand

      5. 6.3.5 Nestle Australia Ltd

      6. 6.3.6 Pure Harvest Smart Farms Ltd.

      7. 6.3.7 Remedy Drinks

      8. 6.3.8 Frucor Suntory

      9. 6.3.9 Health & Happiness (H&H) International Holdings Ltd

      10. 6.3.10 Pharmacare Laboratories Pty Ltd

      11. 6.3.11 Bayer AG

      12. 6.3.12 GlaxoSmithKline Plc

    4. *List Not Exhaustive

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Australia Nutraceuticals Industry Segmentation

Nutraceuticals are food-derived supplements that have both nutritional and therapeutic properties. The Australian nutraceuticals market is segmented by type and distribution channel. Based on type, the market is segmented into functional food, beverages, and dietary supplements. The available food segment is further sub-segmented into Cereals, Bakery & Confectionery, Dairy, Snacks, and Other Functional Foods. The available beverages segment is further sub-segmented into Energy Drinks, Sports Drinks, Fortified Juice, Dairy & Dairy Alternative Beverages, and Other Functional Beverages. The dietary supplements segment is further sub-segmented into Vitamins, Minerals, Botanicals, Enzymes, Fatty Acids, Proteins, and Other Dietary Supplements. Based on distribution channels, the market is segmented into Supermarkets/Hypermarkets, Specialty Stores, Convenience Stores, Drug Stores/Pharmacies, and Online Retail Stores. For each segment, the market sizing and forecasts have been done based on value (in USD million).

By Product Type
Functional Food
Bakery and Confectionery
Other Functional Foods
Functional Beverage
Energy Drinks
Sports Drinks
Fortified Juice
Dairy and Dairy Alternative Beverages
Other Functional Beverages
Dietary Supplements
Fatty Acids
Other Dietary Supplements
Distribution Channel
Specialty Stores
Convenience Stores
Drug Stores/Pharmacies
Online Retail Stores
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Australia Nutraceuticals Market Research FAQs

The Australia Nutraceuticals Market size is expected to reach USD 7.09 billion in 2024 and grow at a CAGR of 5.04% to reach USD 9.06 billion by 2029.

In 2024, the Australia Nutraceuticals Market size is expected to reach USD 7.09 billion.

Kellogg (Aust.) Pty. Ltd., Nestle Australia Ltd., General Mills Australia Pty. Ltd., Herbalife Nutrition Ltd and PepsiCo, Inc are the major companies operating in the Australia Nutraceuticals Market.

In 2023, the Australia Nutraceuticals Market size was estimated at USD 6.75 billion. The report covers the Australia Nutraceuticals Market historical market size for years: 2018, 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Australia Nutraceuticals Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Australia Nutraceuticals Industry Report

Statistics for the 2024 Australia Nutraceuticals market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Australia Nutraceuticals analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Nutraceuticals in Australia Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)