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.
Browse full research report on Latin America Nutrition &
Dietary Supplements Market: https://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.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/latin-america-nutrition-dietary-supplements-market/request/rs1
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
- Functional
Foods
- Dietary
Supplements
- Vitamin
- Mineral
- Enzymes
- Amino
Acids
- 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
- Brazil
- Mexico
- Argentina
- Chile
- Columbia
- Costa
Rica
- 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.
For
more info visit @ https://www.grandviewresearch.com
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