Market Size of Australia Nutraceuticals Industry
| 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
*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.
