AUS and N.Z. Herbal Supplements Market Size to Record a CAGR of 8.5% by 2025

Providing balanced diets to the common masses remain as the primary objective for governments registering a rise in ailments associated with food. Some of the regions enhancing their staple diets while other are looking forward to adding new healthier edible products in their nutritionally incomplete food. Correspondingly, the demand for herbal supplement has also witnessed a growth in recent years. Herbal supplements having medicinal properties offer immunity from multiple genetic diseases to consumers that is further encouraging their higher production.

In countries such as Australia and New Zealand, consumption of herbal supplements is anticipated to grow at a brisk pace in the forthcoming years. As the latest study conducted by Persistence Market Research (PMR), herbal supplement market in Australia and New Zealand is set to rake in more than US$ 760 Million in terms of revenue. It is projected that market will stand at US$ 434.9 Million by 2017-end. Over the next couple of years, the herbal supplement market in these two countries will collectively increase at over 7% CAGR. Increasing per capita healthcare expenditure and the rich dietary background of the two countries is expected to favour the market growth for herbal supplements.

Surging demand for herbal supplements to strengthen the massive population of baby boomers and younger generations are identified as two vital factors fueling the growth of the market in this two countries. In addition, consumers in these two countries are more aware of new nutritional food items available in their market, especially the ones having functional value. Over US$ 150 Miilion worth herbal supplements were consumed in forms of tablet across both the countries. The demand for capsules and liquid based herbal supplements is expected to witness relatively higher growth and collectively register for a healthy 7% CAGR. Meanwhile,
Demand for powdered based herbal supplements continues to be sluggish over the projection period. Further, the expanding application base of base herbal supplements in beauty & cosmetic care industry is also anticipated to propel the market in the near future. On the other hand, digestive & heart supplements will account for more than 20% sales revenue of the herbal supplements market in Australia and New Zealand by the of 2025.

Increasing cases of cardiovascular diseases across the region are expected to boost the consumption of herbal supplements. Bone & joint supplements will account for more than US$ 100 Million from in revenues by 2025-end.

Some of the key player operating in the market for herbal supplements in the Australia and New Zealand include Sanderson, Blackmores Limited, Bioglan, Deep Blue Health (NZ) Co. Limited, Phytomed, NZ Herbals, Vitaco Holdings Limited, and Integria Healthcare.

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This release was published on openPR.