Following NMN’s approval by the Australian authority for use in health supplements last month, Chemist Warehouse has been selling NMN supplements at prices lower than those in overseas markets. It currently sells products from Melrose’s FutureLab and Wanderlust’s Biohack at prices ranging from AUD$39.99 (US$26.90) to AUD$59.99 (US$40.30).
A bottle of BioHack Wanderlust NMN + Longevity 30 Capsules, for example, is sold at AUD$49.99 (US$33.60). Each capsule contains 250 mg of NMN, co-enzyme Q10, alpha lipoic acid (ALA) and green tea leaf extract as active ingredients.
Elsewhere, a 30-capsule NMN supplement can cost as much as US$61 (SGD$79), as in the case of Elivity in Singapore’s pharmacy chain Guardian. The product contains 440 mg NMN per capsule, as well as niacin and nicotinamide as active ingredients.
Offering NMN supplements at lower prices is one of the strategies the discount pharmacy chain is using to build Australia’s NMN supplement category.
“I think NMN is very premium in a lot of markets,” Daniel Kinder, head of vitamins at Chemist Warehouse, told NutraIngredients. “From a cost perspective, we are making it more affordable for Australians to access this ingredient.”
The products could have otherwise cost double the price.
“Just because an ingredient is established in other markets, it does not necessarily mean that the Australian consumer or the Australian market would expect to or be willing to pay for it,” he said. “As a retailer with almost half the market share in the vitamin category, I believe it is our job to help guide the manufacturers and ingredient suppliers to ensure that we are getting these products into the market at the right price for our consumers.”
NMN still a niche category
One reason for selling NMN at a lower price is that the NMN category is still in its infancy in Australia, with low consumer awareness.
Before its approval by the Therapeutic Goods Administration (TGA) last December, NMN supplements were not available for sale across Australia’s brick-and-mortar retail, and consumers could only purchase them via cross-border e-commerce.
With limited offline retail presence, the NMN supplement category remains niche in Australia and is mainly discovered by health-conscious consumers through online searches.
“It’s quite niche at this stage among a highly educated group of customers,” Kinder said. “As such, there is a huge task for us to do as a key retailer to help educate and bring about that broader awareness to NMN supplements in Australia.”
Globally, NMN is associated with increasing nicotinamide adenine dinucleotide (NAD+) levels and healthy longevity, but the awareness is just picking up in Australia.
“I would say that in the Australian market, specifically the space around healthy aging, is probably where NMN would sit, is in its infancy,” he said. “There is a big growth opportunity as we introduce more ingredients that customers are looking for, build the awareness and education behind them, and there is a huge growth trajectory in the years to come.”
According to Kinder, curcumin, glucosamine and fish oil are among the more well-known healthy aging ingredients in Australia, while berberine, resveratrol, nicotinamide riboside (NR) and premium omega are emerging.
Not all NMN products can be sold within Australia
So far, the TGA has only approved the NMN ingredient branded CellVive. Only products containing CellVive NMN can be sold in Australia, while NMN supplements using other NMN ingredients are still not permitted.
CellVive NMN is a trademark of Australian biotechnology company Longevity Life Sciences. The ingredient is manufactured by Shanghai-based SyncoZymes at its green biotech facility.
Based on TGA’s approval, products containing CellVive NMN are permitted to make indications such as “maintain/support energy production” and “maintain/support general health and well-being.”
Although Australian companies can manufacture supplements using other commercially available NMN, these products can only be supplied to overseas markets and are not for domestic consumption.
Commenting on the initial launch, he shared that there have been “strong early signs of sales” from consumers, alongside interest in cooperation from overseas brands.
“We’ve seen good interest coming through from our website, some really strong early signs of sales,” he said. “Anecdotally speaking, customers who are aware of the ingredient are also happy that NMN supplements are now available for them to pick up at their local Chemist Warehouse store.
“We are also getting lots of brands reaching out, including existing brands, completely new brands and brands from overseas markets reaching out to discuss opportunities for ranging.”
Building accessibility
So far, most of the brands selling NMN supplements in Australia are doing so through Chemist Warehouse— albeit not necessarily on an exclusive basis.
Based on Chemist Warehouse’s website, all of five BioHack Wanderlust’s NMN SKUs are exclusively available via the retailer.
“What I would say is that Chemist Warehouse is first to market with these brands, and they are only going to be available at Chemist Warehouse for the months ahead,” Kinder said.
The retailer is also expecting to introduce NMN products from fellow Australian brand Bioglan as well.
As of Jan. 27, there are eight NMN supplements stocked in Chemist Warehouse, and all are from either Melrose FutureLab or BioHack Wanderlust.
As part of its consumer education on NMN, the retailer will be pushing out editorial content on its digital platforms, running billboard advertising and engaging consumers through its House of Wellness’ radio and TV stations, with the key messaging around NMN’s benefits for energy.
