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Vitamin and Supplement Manufacturing in Australia Industry Market Research Report Now Available from IBISWorld
  • USA - English


News provided by

IBISWorld

Aug 05, 2013, 16:00 ET

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IBISWorld Market Research
IBISWorld Market Research

Growing markets in South-East Asia, China and India are expected to drive industry exports.

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Melbourne, Australia (PRWEB) August 06, 2013 -- The Vitamin and Supplement Manufacturing industry has gotten into shape following periods of stagnancy during the global financial crisis. Over the five years through 2013-14, the industry has steadily grown through increased consumer expenditure on vitamins and supplements. During the economic lows of 2008-09 and 2009-10, consumers sought cheaper, low value-added alternatives or stopped taking vitamins and supplements altogether. As the economy bounces back, downstream demand for industry goods has picked up. IBISWorld industry analyst Ryan Lin states “consumer health consciousness and confidence levels have helped propel the industry, with supermarket sales and specialist store sales of vitamins and supplements leaping ahead.” However, the demand growth has extended into sophisticated vitamin and supplement products that are not fully included in the industry. As a result, over the past five years, imports have remained an important part of domestic demand. Conversely, exports have been a key driver for industry revenue as Asian markets open up and the Australian dollar returns to parity. Over the five years through 2013-14, industry revenue is expected to grow at an annualised 2.6% to total $753.3 million. These favourable demand side trends have helped the industry grow by 2.5% in 2013-14.

Over the five years through 2018-19, industry growth is expected to continue. Consumers are forecast to continue using vitamins and supplements to complement their diets and exercise routines. Competition from imports is expected to fall off slightly as the Australian dollar relaxes from its high run. Exports are expected to gain a larger proportion of industry revenue as the lower dollar makes exports cheaper. According to Lin, “key Asian markets, especially China, are expected to be significant growth markets, as the burgeoning Chinese middle-class comes to consume more imported goods and focus on greater health awareness.”

IBISWorld expects that the Vitamin and Supplement Manufacturing industry exhibits a medium level of market share concentration. The major industry players are Blackmores, Pharmacare and Swisse Vitamins. The industry also contains a small number of highly specialised companies that manufacture mostly vitamins and supplements. Expectations are that in recent years, many of these companies have diversified into the production of other medical goods. As a result, market share concentration has fallen over the last five years, especially as newer players have entered the industry. For more information, visit IBISWorld’s Vitamin and Supplement Manufacturing report in Australia industry page.

Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau/.

IBISWorld Industry Report Key Topics

Vitamin and supplement manufacturers primarily develop and manufacture products that are consumed orally and contain one or more ingredients intended to supplement the diet. This industry excludes manufacturers of products used to prevent or treat illnesses.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
International Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalisation
Major Companies
Operating Conditions
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.

Gavin Smith, IBISWorld, 310-490-5973, [email protected]

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