Vitamin and Supplement Stores in Australia - Market Research Report (2014-2029)
Melbourne, Australia
Last Updated: June 2024
ANZSIC OD5364Revenue
$503.0m
Past 5-Year Growth
Profit
$XX.Xm
Employees
1,455
Businesses
233
Wages
$XX.Xm
Vitamin and Supplement Stores in Australia industry analysis
Vitamin and supplement retailers have faced mixed conditions in recent years. Although overall sales of vitamins and supplements have been on the rise, supported by higher health consciousness among consumers and associated wellness trends, external competitive forces have eroded demand for traditional vitamin and supplement retailers. Consumers have been buying more health and wellbeing products from competing pure-play online retailers, pharmacies and supermarkets, which generally have less expensive products. While these trends were already occurring before the COVID-19 outbreak, the pandemic has accelerated them and significantly altered 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.
Trends and Insights
- Despite supporting health and wellness trends, stores have lost sales to external rivals like pharmacies and supermarkets. Price competition has been one of the main culprits.
- Greater health consciousness is shaping sales of health and wellbeing products. More consumers are now taking a proactive and holistic approach to maintaining their health.
- Few vitamin and supplement retailers have a large geographic reach. Many are independent retailers that focus on operations in their local area.
- Vitamin and supplement stores are fragmented. Establishments are generally small independent retailers with a single bricks-and-mortar store.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 4.4 % over the past five years, to reach an estimated $503.0m in 2024.
Trends and Insights
Health consciousness trends have supported sales of vitamins and supplements
- As Australians take a proactive approach towards their general health and wellbeing, some have turned to vitamin and supplement stores, which sell health-related products, to complement health and fitness regimes. Crossover health, wellness and beauty trends have also fuelled demand for various vitamins and supplements.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Consumer health trends will continue to influence vitamin and supplement sales
- Vitamin and supplement stores will achieve modest growth over the coming years, supported by fitness and wellbeing trends. Health consciousness will also climb as more Australian consumers adopt a proactive approach to maintaining their health and wellbeing, particularly following the COVID-19 pandemic.
Biggest companies in the Vitamin and Supplement Stores in Australia
| Company | Market Share (%)
2024 | Revenue ($m)
2024 |
|---|---|---|
Grubie | 117.5 | |
Go-Vita Health & Nutrition Centres | 35.3 | |
Muscle Worx Pty Ltd | 24.5 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Digestive health and other health foods, Health and wellbeing products and Sports and active nutrition products. Digestive health and other health foods is the largest segment of the Vitamin and Supplement Stores in Australia.
Trends and Insights
Rival channels are siphoning off sales of health and wellbeing products
- Health and wellbeing products include a range of vitamins, minerals, herbs and specialty supplements. Multivitamins and herbal and natural supplements are among the segment's best-selling products. These products can assist with stress, energy, brain activity, memory performance and joint and bone ailments.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Supermarkets and Grocery Stores in Australia
- Pharmacies in Australia
Complementors
- Other Health Services in Australia
- Franchising in Australia
International industries
- Health Stores in the US
- Online Vitamin & Supplement Sales in the US
- Health Stores in Canada
Table of Contents
About this industry
Industry definition
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.
What's included in this industry?
Health and wellbeing productsSports and active nutrition productsDigestive health and other health foodsCompanies
GrubieGo-Vita Health & Nutrition CentresMuscle Worx Pty LtdPurchase this report to view all 3 major companies in this industry.
Related Terms
SPORTS SUPPLEMENTSFRANCHISEEFRANCHISORPURE-PLAY ONLINE RETAILERSDAIGOUIndustry Code
ANZSIC 4271 - Vitamin and Supplement Stores in Australia
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Despite supporting health and wellness trends, stores have lost sales to external rivals like pharmacies and supermarkets. Price competition has been one of the main culprits...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Greater health consciousness is shaping sales of health and wellbeing products. More consumers are now taking a proactive and holistic approach to maintaining their health.
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2024
- Product innovation level
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Few vitamin and supplement retailers have a large geographic reach. Many are independent retailers that focus on operations in their local area.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Asia Pacific, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Vitamin and supplement stores are fragmented. Establishments are generally small independent retailers with a single bricks-and-mortar store.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Outside of the major vitamin and supplement retailers, most enterprises are small, independent owner-operators. Nutrition Warehouse is the only player to have a national pres...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Grubie's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Go-Vita Health & Nutrition Centres's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Muscle Worx Pty Ltd's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Grubie, and factors influencing its performance in the industry
- Description and key data for Go-Vita Health & Nutrition Centres, and factors influencing its performance in the industry
- Description and key data for Muscle Worx Pty Ltd, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Health consciousness trends are seeing consumers adopt a more proactive and holistic approach to their general health and wellbeing. Supplement retailers are benefiting from ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Pandemic-related challenges have affected revenue for vitamin and supplement stores. Supply-chain disruptions, higher freight costs and lower footfall stemming from regional ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in Australia include:
- Australian Bureau of Statistics
- Australian Taxation Office
- Australian Securities & Investments Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Vitamin and Supplement Stores industry in Australia in 2024?
The market size of the Vitamin and Supplement Stores industry in Australia is $503.0m in 2024.
How many businesses are there in the Vitamin and Supplement Stores in Australia industry in 2024?
There are 233 businesses in the Vitamin and Supplement Stores industry in Australia, which has declined at a CAGR of 2.2 % between 2019 and 2024.
Has the Vitamin and Supplement Stores industry in Australia grown or declined over the past 5 years?
The market size of the Vitamin and Supplement Stores industry in Australia has been declining at a CAGR of 4.4 % between 2019 and 2024.
What is the forecast growth of the Vitamin and Supplement Stores industry in Australia over the next 5 years?
Over the next five years, the Vitamin and Supplement Stores industry in Australia is expected to grow.
What are the biggest companies in the Vitamin and Supplement Stores market in Australia?
The biggest companies operating in the Vitamin and Supplement Stores market in Australia are Grubie, Go-Vita Health & Nutrition Centres and Muscle Worx Pty Ltd
What does the Vitamin and Supplement Stores in Australia include?
Health and wellbeing products and Sports and active nutrition products are part of the Vitamin and Supplement Stores industry.
Which companies have the highest market share in the Vitamin and Supplement Stores in Australia?
The company holding the most market share in Australia is Grubie.
How competitive is the Vitamin and Supplement Stores industry in Australia?
The level of competition is high and increasing in the Vitamin and Supplement Stores industry in Australia.
