The Latin America nutrition and dietary supplements market size is expected to reach USD 47.5 billion by 2025,
according to a new report by Grand View Research, Inc. It is anticipated to
expand at a CAGR of 8.8% over the forecast period. Growing expenditure on
nutrition and dietary supplements, disposable income, and consumer awareness
are some of the key market drivers. Changing regulatory framework to ensure
drug safety in Latin American countries such as Mexico and Argentina is also
expected to positively impact market growth in the forthcoming years.
Growing demand for
nutrition and dietary supplements among geriatric population is also one of the
considerable market drivers. Nutrition plays a vital role in maintaining health
of geriatric population and has a significant impact on aging process. Risk of
malnutrition, functional impairments, age-related diseases, and physical inabilities
are prevalent among elderly population. These issues might interfere with
healthy nutritional status of an individual. Thus, dependence on these
supplements has increased over the past few years.
Growing middle class
population coupled with high spending on nutrition and dietary supplements is a
key driver for the market. There are nearly 300 million middle-class people in
Latin America. This number has more than doubled over the period of past 30
years representing a rise in consumer buying power. This factor is anticipated
to positively impacting market expansion over the forecast period.
Access Research Report of Latin America Nutrition & Dietary
Supplements Market @ www.grandviewresearch.com/industry-analysis/latin-america-nutrition-dietary-supplements-market
Further key findings from the report suggest:
· Additional supplements segment accounted
for the largest revenue share in 2016 owing to rising awareness, spending on
supplements, and various initiatives undertaken to prevent malnutrition
· Powder emerged as the largest formulation
segment in terms of revenue share in 2016 owing to ease of consumption as
compared to other formulations. However, the others segment that includes
gummies, lollipops, lozenges, and shots is projected to expand at the fastest
CAGR
· Adult emerged as the largest consumer
segment in 2016 while children segment is expected to witness lucrative CAGR
over the forecast period
· In terms of geography, Brazil accounted for
the largest revenue share in 2016. Argentina is expected to expand at the
fastest CAGR in near future
· Herbalife; Bayer AG; Pfizer, Inc.; and
Merck are the major players operating in the Latin America nutrition and
dietary supplements market. The market is majorly dominated by multinational
companies. However, domestic players are also increasingly investing in this
market.
Grand View Research has
segmented the Latin America nutrition and dietary supplements market on the
basis of function, formulation, consumer, and country:
Latin America Nutrition and Dietary Supplements Function
Outlook (Revenue, USD Million, 2014 - 2025)
·
Medical Foods
·
Sports Nutrition
·
Additional Supplements
o
Functional Foods
o
Dietary Supplements
o
Vitamin
o
Mineral
o
Enzymes
o
Amino Acids
o
Others
Latin America Nutrition and Dietary Supplements
Formulation Outlook (Revenue, USD Million, 2014 - 2025)
·
Tablets
·
Capsules
·
Liquid
·
Powder
·
Soft Gel
·
Others
Latin America Nutrition and Dietary Supplements Consumer
Outlook (Revenue, USD Million, 2014 - 2025)
·
Infant
·
Children
·
Adult
·
Pregnant
·
Geriatric
Latin America Nutrition and Dietary Supplements Country
Outlook (Revenue, USD Million, 2014 - 2025)
·
Latin America
o
Brazil
o
Mexico
o
Argentina
o
Chile
o
Columbia
o
Costa Rica
o
Venezuela
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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