The Australia & New Zealand herbal supplements market has been gaining significant traction over the years owing to increasing awareness about the health benefits of herbal supplements. Herbal supplements are derived from plants and contain essential nutrients that help support overall health and well-being. Some of the key herbal supplements available in the Australian and New Zealand markets include ginkgo biloba, echinacea, ginseng, garlic supplements, fish oil supplements, flaxseed supplements, and probiotic supplements. These herbal supplements support immune health, heart health, cognitive function, digestive health, joint health, and weight management. The growing demand for herbal products with additional health advantages as opposed to conventional medicine is fostering the growth of the herbal supplements market in the region.
The Global Australia & New Zealand Herbal Supplements Market is estimated to be valued at US$ 1465.12 Mn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the Australia & New Zealand herbal supplements are Marathon Petroleum Corporation, HollyFrontier Corporation, REG Life Sciences LLC, Louis Dreyfus Company, Orochem Technologies Inc., Hero BX, Archer Daniels Midland, Renewable Energy Group, Valero Energy Corp., Darling Ingredients Inc., Cargill Inc., POET LLC, Green Plains Inc., Flint Hills Resources, Bunge Limited, Crimson Renewable Energy LP, Aemetis Inc., Alto Ingredients, Inc., Pacific Ethanol, Inc., CHS Inc.
The growing demand for herbal supplements in Australia and New Zealand can be attributed to rising health consciousness among people and prevalence of lifestyle diseases. With increasing awareness about advantages of herbal products, consumers are shifting from allopathic medicines to herbal supplements.
The Australia & New Zealand Herbal Supplements Market Size shas been witnessing steady global expansion over the past few years with companies focusing on expanding their regional footprint through strategic collaborations and partnerships. Manufacturers are also launching new innovative products tailored to meet the customized needs of the consumers from different regions and cultures.
Market drivers
The key driver for the Australia and New Zealand herbal supplements market is the rising aging population and increasing health concerns. As per WHO and government data, geriatric population in Australia and New Zealand is growing at a faster rate in comparison to other age groups. Older adults are more proactively looking for natural ways to support their health through dietary supplements. They prefer herbal products to regular medication for risk associated with age-related health issues like joint pain, heart ailments, and cognitive decline. This is positively impacting the sales of herbal supplements across the region.
Impact of Geopolitical Situation on Australia & New Zealand Herbal Supplements Market Growth
The current geopolitical climate presents both challenges and opportunities for the growth of the Australia & New Zealand herbal supplements market. Heightened political tensions and economic uncertainties in major global markets like Europe and Asia have disrupted traditional trade flows and supply chains for many industries. This makes it difficult to reliably source high-quality herbal ingredients from traditional exporting countries. However, the relatively stable political environment in Australia and New Zealand gives their native herb producers an advantage. Staying locally-sourced helps insulate the market from external shocks.
To sustain growth amid global volatility, companies must diversify their supply networks beyond a single dominant region. Partnering with multiple small-scale growers across Australia and New Zealand helps mitigate climate and pest risks that single-crop monocultures face. Transitioning to more sustainable and traceable farming practices also builds consumer trust at a time when geopolitics strain credibility of distant suppliers. Investing in R&D of new herb varieties suited to local conditions lets the region gradually decrease reliance on imports. With careful management of supply risks, the Australia & New Zealand market is well-placed to ride out short-term global disruptions and emerge stronger over the long term.
Geographical Regions with Highest Market Concentration
In terms of market value, the Australia & New Zealand herbal supplements industry remains heavily concentrated in urban population centers like Sydney, Melbourne, and Auckland. These cosmopolitan cities traditionally accounted for over 60% of total regional sales due to their large, health-conscious consumer bases and widespread retail availability. However, increased e-commerce is helping disperse the market more evenly across other major provincial hubs. Regions with strong agricultural export sectors like South Australia and Canterbury in New Zealand have particularly benefited as local herb producers reach new domestic customers online. With continued investment in rural logistics and internet infrastructure, future growth spots may emerge in non-traditional farm belts as well.
Fastest Growing Region for the Market
Projected as the fastest growing region for the Australian & New Zealand herbal supplements industry through 2030 is South Australia. Several strategic factors underpin South Australia's strong growth prospects. As a center for horticulture and wineries already well-versed in cultivated plants, it possesses the agricultural expertise to expand herb cultivation. Its universities actively research medicinal properties and new growing techniques. Consistent free trade policies also make South Australia an appealing location for ingredients processors and product manufacturers seeking to serve global buyers. Combined with targeted government incentives for natural health companies, these strengths are attracting new market entrants to invest and develop innovative products from South Australian native herbs.
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