Australia’s booming complementary medicines industry is set to benefit from a newly formed partnership between the sector’s peak body, Complementary Medicines Australia, and the not-for-profit Australian Made Campaign.
Streamlined access to Australian Made certification and greater visibility at trade shows and events in export markets are just a few of the new benefits Australian complementary medicine manufacturers will enjoy.
Although currently voluntary and underutilised, country-of-origin branding has become a significant competitive advantage for local manufacturers in recent years, according to Complementary Medicines Australia CEO Carl Gibson.
“The industry in Australia is uniquely regulated, setting us apart from the rest of the world” Mr Gibson said.
“Unlike our competitors overseas, Australia’s complementary medicine industry is regulated by the Therapeutic Goods Association, which requires stringent quality assessments of raw materials and pharmaceutical-grade manufacturing facilities –that differentiation is incredibly valuable.”
“Australia’s high manufacturing standards result in extremely high quality products, which are well-known for their safety and efficacy, and prominent Australian branding helps local manufacturers leverage that fact,” Mr Gibson said.
“We see the iconic green-and-gold Australian Made kangaroo logo as the most distinctive way to promote ‘Australia’s clean and green’ complementary medicines to the world.”
Australian Made Campaign Chief Executive, Ian Harrison, said it was fantastic to see Complementary Medicines Australia taking a strong stance on country-of-origin branding in its new role as a Campaign Associate.
“Complementary Medicines Australia is taking the lead on an important issue which has the potential to drive considerable industry growth and improve transparency for consumers,” Mr Harrison said.
Industry growth has been significant in recent years. Over the past twelve months Australia’s complementary medicine exports have doubled, and in just two years the industry has grown in value from $2.5 to $4.2 billion.
Mr Gibson says “multivitamins are the new minerals,” and this growth can largely be attributed to the fact that Australian Made products are now in unprecedented demand from Asia.
The Australian Made logo provides crucial authenticity in the global marketplace, reinforced in recent years by the registration of the mark in China, Singapore and South Korea (as well as the USA). This provides a legal framework for the protection of exporters using the symbol and prevents its misuse.
Part of the Australian Made Campaign’s role involves educating Australian businesses on how to leverage country-of-origin branding. Australian Made Campaign Chief Executive, Ian Harrison, will be speaking at the National Complementary Medicines Australia Conference in September this year. For more information, visit www.cmaustralia.org.au.