Industry Analysis & Industry Trends
The Vitamin and Supplement Stores industry has performed poorly over the past five years. After a brief period of growth over the two years through 2011-12, industry revenue has declined steadily. Over the past five years, consumer expenditure on vitamins and supplements has grown strongly as consumers have become more concerned with healthy eating and living. However, many consumers seeking vitamins and supplements have shifted to cheaper varieties sold through supermarkets, grocery stores and pharmacies over the past five years.
The growing popularity of personal fitness, the boom in gym membership sales and attendance, and overall increased demand for fitness centres helped support industry revenue growth in the two years through 2011-12... purchase to read more
Industry Report - Industry Analysis Chapter
Gym and fitness centre memberships have been in strong demand over the past five years as more Australians have aimed to improve their health and wellbeing. Consequently, many of these consumers have sought to complement their new lifestyle with vitamins and supplements. The Vitamin and Supplement Stores industry was able to capitalise on this growth over the two years through 2011-12. However, industry revenue has fallen since then as external competitors have seized market share by rapidly expanding their range of vitamins and supplements to take advantage of the growing health awareness of consumers. As a result, industry revenue is projected to fall at a compound annual rate of 3.9% over the five years through 2015-16, to total $170.2 million... purchase to read more