$503.0m
$XX.Xm
1,455
233
$XX.Xm
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.
Industry revenue has declined at a CAGR of 4.4 % over the past five years, to reach an estimated $503.0m in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($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.
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.
Rival channels are siphoning off sales of health and wellbeing products
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.
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ANZSIC 4271 - Vitamin and Supplement Stores in Australia
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
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...
Learn about an industry's products and services, markets and trends in international trade.
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.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Few vitamin and supplement retailers have a large geographic reach. Many are independent retailers that focus on operations in their local area.
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.
Vitamin and supplement stores are fragmented. Establishments are generally small independent retailers with a single bricks-and-mortar store.
Learn about the performance of the top companies in the industry.
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...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Health consciousness trends are seeing consumers adopt a more proactive and holistic approach to their general health and wellbeing. Supplement retailers are benefiting from ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Pandemic-related challenges have affected revenue for vitamin and supplement stores. Supply-chain disruptions, higher freight costs and lower footfall stemming from regional ...
Including values and annual change:
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Key data sources in Australia include:
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:
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The market size of the Vitamin and Supplement Stores industry in Australia is $503.0m 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.
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.
Over the next five years, the Vitamin and Supplement Stores industry in Australia is expected to grow.
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
Health and wellbeing products and Sports and active nutrition products are part of the Vitamin and Supplement Stores industry.
The company holding the most market share in Australia is Grubie.
The level of competition is high and increasing in the Vitamin and Supplement Stores industry in Australia.