Vitamin and Supplement Stores in Australia - Industry Market Research Report

Vitamin and Supplement Stores in Australia - Industry Market Research Report

Vitamin and Supplement Stores in Australia

Vitamin and supplement retailers have faced mixed conditions in recent years. Although demand for vitamins and supplements has grown, supported by rising health consciousness among consumers and associated wellness trends, external competitive forces have eroded demand for traditional vitamin and supplement retailers. Consumers are increasingly buying health and wellbeing products from competing pure-play online retailers, pharmacies and supermarkets, which generally have cheaper prices. While these trends were already occurring before the COVID-19 outbreak, the pandemic has accelerated them and significantly changed consumer purchasing patterns. Structural changes have occurred in retail channels as temporary vitamin and supplement store closures during the pandemic drove consumers to alternative channels for their vitamin purchases.

The industry includes bricks-and-mortar stores that primarily sell vitamins and supplements, along with related health foods. Online sales are included if the company also operates a bricks-and-mortar store. Pure-play online vitamin and supplement retailers are not included in the industry.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.