In Australia, the vitamins and dietary supplements segment makes up more than half od the revenue generated from the complementary medicines industry. Sports nutrition was the second most prominent segment, attracting a revenue of almost 1.5 billion Australian dollars in 2021. Taking a closer look at the supplements category in 2019, general health supplements held a market share of around 17 percent, followed by supplements for bone health and heart health. This is perhaps unsurprising given that arthritis, back problems, and vascular disease are among some of the leading chronic health conditions suffered by Australians.
Despite the overall increase in revenue generated by the complementary medicines sector, sales of vitamins and supplements at grocery stores and pharmacies has decreased slightly between 2019 and 2021. Furthermore, Australia’s largest producer of VMS products, Blackmores, also indicated a notable drop in revenue from its Australian sales segment, although it was able to offset some of these losses through international sales. This decrease can be explained by a number of factors, including reduced foot traffic at physical stores due to coronavirus precautions and an increase in online VMS sales, giving Australian consumers the opportunity to source vitamins and supplements from other suppliers and overseas.
When it comes to the purchase of vitamin products, Australian women across all age groups were more likely to purchase vitamin products than men, and overall around 73 percent of Australians purchased complementary medicines in 2021. As for future consumer trends, the online retail market will become increasingly competitive as consumers recognize the safety and convenience of online shopping. Furthermore, the impact of the coronavirus pandemic has given rise to renewed interest in immune boosting VMS products.