Overview

Bitter pill: Strong external competition is constraining industry revenue growth

IBISWorld’s Vitamin and Supplement Stores market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Rising health consciousness has supported growing demand for vitamins and supplements
  • Sports nutrition operators have thrived by targeting a niche market over the past five years
  • The industry will likely adjust to external competition from supermarkets and online retailers

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    Industry Analysis & Industry Trends

    The Vitamin and Supplement Stores industry has performed unevenly over the past five years. Demand for vitamins and supplements has been growing, supported by rising health consciousness among consumers and increased gym memberships. These trends have led to revenue growth over the five-year period, albeit at a slow rate. Industry revenue is expected to grow at an annualised 0.4% over the five years through 2017-18, to $475.0 million. This includes a projected increase of 1.6% increase in 2017-18. Strong sales growth over the past five years from competing pure-play online retailers, supermarkets and pharmacies has constrained industry revenue growth. Industry operators have been forced to reduce prices to retain customers over the five-year period...

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    What is the Vitamin and Supplement Stores industry?

    The spread of vitamin and supplement store locations largely follows the distribution of population across Australia. This is because high pedestrian store traffic is one of the most important elements of store performance, with industry operators actively competing to secure prime locations for their stores. As a result, the majority of stores are located in most populous states: New South Wales, Victoria and Queensland. Together, these three states are estimated to account for just over 80% of the industry's total establishments. Successful stores are typically located near gyms and fitness centres in large population centres. Shopping centres are also a popular location due to high pedestrian traffic. Oth...

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    Additional Insights for the Vitamin and Supplement Stores Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Vitamin and Supplement Stores Industry are

  • Wide product range
  • Highly trained workforce
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Health consciousness and Real household discretionary income in the Vitamin and Supplement Stores industry impact industry performance..

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    Products & Brands

    Major products in this industry
    Health foods
    Health and wellbeing products
    Sports and active nutrition products
    Examples of brands in this Industry
    Nutrition Warehouse

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Health consciousness
  • Real household discretionary income
  • Demand from gyms and fitness centres
  • Demand from online shopping

  • Current Performance
  • Intensifying competitive pressures
  • Falling profitability and players
  • Chart: Revenue Growth

  • Industry Outlook
  • Consumer trends
  • Competition
  • Regulation
  • Table: Vitamin and Supplement Stores Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Vitamin and Supplement Stores Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Computer and Software Retailing
  • Pharmaceutical Product Manufacturing
  • Pharmaceuticals Wholesaling
  • Tea, Coffee and Other Food Manufacturing

  • Products & Services
  • Health and wellbeing products
  • Sports and active nutrition products
  • Health foods
  • Chart: Vitamin and Supplement Stores Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Consumers aged 31 to 50
  • Consumers aged 51 to 70
  • Consumers aged 19 to 30
  • Consumers aged 71 and over
  • Chart: Major Market Segmentation for the Vitamin and Supplement Stores Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Rent
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Vitamin and Supplement Stores

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Vitamin and Supplement Stores Industry

  • Industry Globalization
    Major Companies
    Govita Distributors LtdGrubie Pty LtdHealthy Life Holdings Pty Ltd
  • Table: Govita Distributors Ltd - financial performance
  • Table: Grubie Pty Ltd - financial performance
  • Table: Healthy Life Holdings Pty Ltd - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Vitamin and Supplement Stores Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Vitamin and Supplement Stores Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Franchisee
  • The party that obtains a franchise license from the franchisor giving them permission to operate under a franchise brand name.
  • Franchisor
  • The entity that allows the franchisee to run a location of their business for an agreed-upon fee.
  • Pure-Play Online Retailers
  • Online retailers that trade purely online, without any physical retail stores.
  • Sports Supplements
  • Sports supplements include a range of liquid and powder-based supplements for use during sports and training for the purpose of muscle gain or weight loss.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Vitamin and Supplement Stores:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Vitamin and Supplement Stores market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Vitamin and Supplement Stores, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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