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PUBLISHER: Grand View Research | PRODUCT CODE: 1092613

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PUBLISHER: Grand View Research | PRODUCT CODE: 1092613

Latin America Nutritional Supplements Market Size, Share & Trends Analysis Report By Function, By Product, By Consumer Group, By Formulation, By Sales Channel, By Country, And Segment Forecasts, 2022 - 2030

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Latin America Nutritional Supplements Market Growth & Trends:

The Latin America nutritional supplements market size is projected to reach USD 97.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to register a CAGR of 8.1% from 2022 to 2030. Latin America has been a developing region, with a high burden of chronic diseases and obesity. The current prevalence of which is more than 60% across the region. According to ALANUR, the national consumption of nutritional supplements in Brazil is more than 59%, of which 42% market is for vitamins alone. This shift in the focus towards higher consumption, aiming at overall health has been driving the growth of the market.

A research article published on PubMed states, that the prevalence of chronic diseases like diabetes and hypertension is quite high in the region, especially in Mexico, Haiti, and Puerto Rico, slightly lower in Colombia, Dominican Republic, Uruguay, Peru, and Ecuador. Nutritional supplements have been increasingly in use since the COVID-19 pandemic, and the sales of vitamins and other functional foods have skyrocketed.

Countries like Mexico, Brazil, and Peru have been keenly interested in sports. The sports activity in these countries has relatively increased as compared to previous decades, due to which sports nutrition supplements have been in high demand, thus augmenting the growth of the Latin America market for nutritional supplements. As per ALANUR, protein makes up 11% to 30% of the total nutrition supplements market, depending on geography. It is highest in Brazil and lowest among the Latin American countries in Colombia.

Functional foods held the largest market share of 79.4 % in 2021. Prebiotics and omega-3 as primary offerings have been highly demanded by consumers across the subcontinent. The COVID-19 pandemic has altered people toward the possible dangers of lapses in immunity, since the onset, the functional foods segment has been steadily growing alongside vitamins and other supplements. The sports segment registered the fastest growth, owing to the increasing inclination toward sports and physical activity. The increase in disposable incomes has also been a primary factor promoting the growth of this segment.

The adult consumer group was among the largest consumers in the Latin American region. Owing to the higher tendency of this age group to develop chronic diseases and lifestyle diseases, they are more health-conscious and are increasingly incorporating nutritional supplements in their diets to complete their nutritional requirements. This has been a primary reason for the growth of this market. The children are the fastest emerging consumer group. Increasing awareness about proper health since early childhood has been gaining a lot of popularity and has been contributing greatly to the growth of the market.

The powder formulations segment held the largest share in 2021 due to the high product density in the market. This formulation type has the advantage of being more easily dispersible and comes in various flavors and has been widely preferred by consumers. Sports nutrition segment, which in itself is a huge segment, which has the majority offering in powder formulations, thus contributing to the growth of the market.

The capsules segment has been emerging as the fastest-growing formulation type. This has been due to the growth of the functional food segment, which has product offerings in capsule formulations. The capsules have the advantage of being less irritable for the GI tract, also more than one supplement can be delivered in a single dose. These factors have been contributing significantly toward the growth of the market.

Brick and mortar sales and direct sales through multilevel marketing have been major contributors to the revenue share of the nutritional supplements in Latin America. Although the e-commerce sales have been growing over the past few years Latin America as a region has a high presence of direct sales channels and brick and mortar retail stores for the distribution of these OTC nutritional supplements. Sales through online channels have been gaining momentum due to COVID-19-related restrictions and will continue to climb, contributing significantly to the growth of the market.

Brazil was the largest region based on the sales revenue for the nutritional supplements in Latin America. Brazil's consumption of nutritional supplements has been high, with vitamins and functional foods as the highest in demand. The growth can be attributed to the country's evolving economy. The per capita income has also increased as compared to previous decades. This has resulted in higher purchasing power of consumers resulting in the growth of the market. Argentina has been identified as the fastest-growing region in Latin America, with a CAGR of % for 2022-2030. Increasing awareness about the benefits of nutritional supplements is driving the growth.

COVID-19 has been a major driving force for the growth of this market in nutritional supplements. It has provided a necessary impetus for growth in the Latin American region. The region's hard-hit population during the pandemic has been a major reason for the growth of the vitamins and functional foods category in nutritional supplements. The market is currently untapped and has huge growth potential and is projected to have a significant market share in the global market.

Latin America Nutritional Supplements Market Report Highlights:

  • The functional foods product category held the largest revenue share of 79.4% in 2021, owing to the growing popularity of these foods in boosting immunity
  • The adult consumer segment held the largest market revenue share in 2021, due to the increase in awareness regarding a balanced diet and complete nutrition
  • Powder formulations held the largest market share; however, the growing popularity of capsule formulations has been responsible for the growth of the market
  • Direct sales and brick-and-mortar retail stores are the majorly preferred sales channels. Online sales have been gaining a lot of traction due to the ongoing pandemic and are expected to grow in the future
  • Brazil held the largest market share in the Latin America region, owing to the growing chronic disease burden and rising awareness about preventative health. Argentina was among the fastest-growing region and is expected to grow significantly over the forecast period
Product Code: GVR-2-68038-416-1

Table of Contents

Chapter 1 Methodology and Scope

  • 1.1 Research Methodology
  • 1.2 Research Scope and Assumptions
  • 1.3 List to Data Sources

Chapter 2 Executive Summary

  • 2.1 Market Summary, 2021 (USD Million)

Chapter 3 Latin America Nutrition and Supplements Market Variables, Trends & Scope

  • 3.1 Market Segmentation
  • 3.2 Latin America Nutrition and Supplements Market Dynamics
    • 3.2.1 Market driver analysis
      • 3.2.1.1 Rising consumer interest in active living
      • 3.2.1.2 Increasing disposable income
      • 3.2.1.3 Easy accessibility to this nutrition and supplements
    • 3.2.2 Market Restraints Analysis
      • 3.2.2.1 Presence of counterfeit products in the market
    • 3.2.3 Penetration & growth prospects mapping
    • 3.2.4 Latin America nutrition and Dietary supplements market - PESTLE analysis
    • 3.2.5 Industry Analysis - Porter's Five Forces
  • 3.3 Regulatory Scenario in Latin America
    • 3.3.1 Brazil
    • 3.3.2 Mexico
    • 3.3.3 Argentina
    • 3.3.4 Chile
    • 3.3.5 Colombia
    • 3.3.6 Costa Rica
    • 3.3.7 Venezuela
  • 3.4 Channels to Market Entry
    • 3.4.1 Personalized nutrition & supplement
    • 3.4.2 Clinical research
    • 3.4.3 Targeting sports nutrition
    • 3.4.4 Digital marketing
    • 3.4.5 Acquisitions
    • 3.4.6 Labelling
    • 3.4.7 Increase in the demand & consumption of herbal medicinal products
    • 3.4.8 Ease in the application of novel food products in Latin America
  • 3.5 Commentary on Online Sales of Supplements VS Bricks and Mortar
  • 3.6 Overview of Distributors
    • 3.6.1 Distribution scenario in Brazil
    • 3.6.2 Distribution scenario in Mexico
    • 3.6.3 Distribution scenario in Argentina
    • 3.6.4 Distribution scenario in Chile
    • 3.6.5 Distribution scenario in Colombia
    • 3.6.6 Distribution scenario in Costa Rica
    • 3.3.7 Distribution scenario in Venezuela
    • 3.6.8 Distributors' cost calculation
    • 3.6.9 List of distributors in Latin America.
    • 3.6.10 Brand growth matrix for sports nutrition
    • 3.6.11 Brand growth matrix for dietary supplements
  • 3.7 List of Marketing Agencies

Chapter 4 Latin America Nutrition and Supplements Market: Product Estimates & Trend Analysis

  • 4.1 Definitions & Scope
  • 4.2 Latin America Nutrition and Supplements Market: Product Movement Analysis, USD Million, 2021 & 2030
  • 4.3 Sports Nutrition
    • 4.3.1 Latin America sports nutrition market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.3.2 Sports Food
      • 4.3.2.1 Latin America sports food market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.3.3 Sports Supplements
      • 4.3.3.1 Latin America sports supplements market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.3.4 Sports Drinks
      • 4.3.4.1 Latin America sports drinks market estimates and forecasts. 2016 - 2030 (USD Million
  • 4.4 Dietary Supplements
    • 4.4.1 Latin America dietary supplements market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.4.2 Vitamin
      • 4.4.2.1 Latin America vitamin market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.4.3 Mineral
      • 4.4.3.1 Latin America mineral market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.4.4 Enzymes
      • 4.4.4.1 Latin America enzymes market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.4.5 Amino Acids
      • 4.4.5.1 Latin America amino acids market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.4.6 Conjugated Linoleic Acids
      • 4.4.6.1 Latin America conjugated linoleic acids market estimates and forecasts, 2016 - 2030 (Million)
    • 4.4.7 Others
      • 4.4.7.1 Latin America other market estimates and forecasts, 2016 - 2030 (USD Million)
  • 4.5 Functional Foods and Beverages
    • 4.5.1 Latin America functional foods and beverages market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.5.2 Probiotics
      • 4.5.2.1 Latin America probiotics market estimates and forecasts, 2016 - 2030 (USD Million)
    • 4.5.3 Omega-3
      • 4.5.3.1 Latin America omega-3 market estimates and forecasts 2016 - 2030 (USD Million)
    • 4.5.4 Others
      • 4.5.4.1 Latin America others market estimates and forecasts 2016 - 2030 (USD Million)

Chapter 5 Latin America Nutrition and Supplements Market: Consumer Group Estimates & Trend Analysis

  • 5.1 Definitions & Scope
  • 5.2 Latin America Nutritional Supplements Market: Consumer Group Movement Analysis, USD Million, 2021 & 2030
  • 5.3 Infants
    • 5.3.1 Latin America infants market estimates and forecasts, 2016 - 2030 (USD Million)
  • 5.4 Children
    • 5.4.1 Latin America children market estimates and forecasts, 2016 - 2030 (USD Million)
  • 5.5 Adults
    • 5.5.1 Latin America adults market estimates and forecasts, 2016 - 2030 (USD Million)
    • 5.5.2 Age group 20 To 30
      • 5.5.2.1 Latin America age group 20 To 30 market estimates and forecasts, 2016 - 2030 (USD Million)
    • 5.5.3 Age group 31 To 40
      • 5.5.3.1 Latin America age group 31 To 40 market estimates and forecasts, 2016 - 2030 (USD Million)
    • 5.5.4 Age group 41 to 50
      • 5.5.4.1 Latin America age group 41 to 50 market estimates and forecasts, 2016 - 2030 (USD Million)
    • 5.5.5 Age group 51 to 65
      • 5.5.5.1 Latin America age group 51 to 65 market estimates and forecasts, 2016 - 2030 (USD Million)
  • 5.6 Pregnant
    • 5.6.1 Latin America pregnant market estimates and forecasts, 2016 - 2030 (USD Million)
  • 5.7 Geriatric
    • 5.7.1 Latin America geriatric market estimates and forecasts, 2016 - 2030 (USD Million)

Chapter 6 Latin America Nutrition and Supplements Market: Formulation Estimates & Trend Analysis

  • 6.1 Definitions & Scope
  • 6.2 Latin America Nutritional Supplements Market: Formulation Movement Analysis, USD Million, 2021 & 2030
  • 6.3 Tablets
    • 6.3.1 Latin America tablets market estimates and forecasts, 2016 - 2030 (USD Million)
  • 6.4 Capsules
    • 6.4.1 Latin America capsules market estimates and forecasts, 2016 - 2030 (USD Million)
  • 6.5 Powder
    • 6.5.1 Latin America powder market estimates and forecasts, 2016 - 2030 (USD Million)
  • 6.6 Softgels
    • 6.6.1 Latin America softgels market estimates and forecasts, 2016 - 2030 (USD Million)
  • 6.7 Liquids
    • 6.7.1 Latin America liquids market estimates and forecasts, 2016 - 2030 (USD Million)
  • 6.8 Others
    • 6.8.1 Latin America others market estimates and forecasts, 2016 - 2030 (USD Million)

Chapter 7 Latin America Nutrition and Supplements Market: Sales Channel Estimates & Trend Analysis

  • 7.1 Definitions & Scope
  • 7.2 Latin America Nutritional Supplements Market: Sales Channel Movement Analysis, USD Million, 2021 & 2030
  • 7.3 Brick and Mortar
    • 7.3.1 Latin America B&M market estimates and forecasts, 2016 - 2030 (USD Million)
  • 7.4 Online (E-commerce)
    • 7.4.1 Latin America e-commerce market estimates and forecasts, 2016 - 2030 (USD Million)

Chapter 8 Latin America Nutrition and Supplements Market: Regional Estimates & Trend Analysis, By Product, Consumer Group, Formulation, and Sales Channel

  • 8.1 Definitions & Scope
  • 8.2 Latin America Nutritional Supplements Market: Country Movement Analysis, USD Million, 2021 & 2030
  • 8.3 Brazil
    • 8.3.1 Market estimates and forecasts, by product, consumer group, formulation, and sales channel, 2016 - 2030 (USD Million)
  • 8.4 Mexico
    • 8.4.1 Market estimates and forecasts, by product, consumer group, formulation, and sales channel, 2016 - 2030 (USD Million)
  • 8.5 Argentina
    • 8.5.1 Market estimates and forecasts, by product, consumer group, formulation, and sales channel, 2016 - 2030 (USD Million)

Chapter 9 Competitive Landscape

  • 9.1 Company Profiles
    • 9.1.1 Herbalife International of America, Inc.
      • 9.1.1.1 Company Overview
      • 9.1.1.2 Financial Performance
      • 9.1.1.3 Product Benchmarking
      • 9.1.1.4 Strategic Initiatives
    • 9.1.2 Amway International (Alticor Inc.)
      • 9.1.2.1 Company Overview
      • 9.1.2.2 Financial Performance
      • 9.1.2.3 Product Benchmarking
      • 9.1.2.4 Strategic Initiatives
    • 9.1.3 Bayer AG
      • 9.1.3.1 Company Overview
      • 9.1.3.2 Financial Performance
      • 9.1.3.3 Product Benchmarking
      • 9.1.3.4 Strategic initiatives
    • 9.1.4 Sanofi
      • 9.1.4.1 Company Overview
      • 9.1.4.2 Financial Performance
      • 9.1.4.3 Product Benchmarking
      • 9.1.4.4 Strategic Initiatives
    • 9.1.5 Abbott Nutrition (Abbott)
      • 9.1.5.1 Company Overview
      • 9.1.5.2 Financial Performance
      • 9.1.5.3 Product Benchmarking
      • 9.1.5.4 Strategic initiatives
    • 9.1.6 Nestle Nutrition
      • 9.1.6.1 Company Overview
      • 9.1.6.2 Financial performance
      • 9.1.6.3 Product Benchmarking
    • 9.1.7 Pfizer, Inc.
      • 9.1.7.1 Company Overview
      • 9.1.7.2 Financial Performance
      • 9.1.7.3 Product Benchmarking
      • 9.1.7.4 Strategic Initiatives
    • 9.1.8 GNC Holdings, Inc.
      • 9.1.8.1 Company Overview
      • 9.1.8.2 Financial Performance
      • 9.1.8.3 Product Benchmarking
      • 9.1.8.4 Strategic Initiatives
    • 9.1.9 Ground & Pound Supplements
      • 9.1.9.1 Company Overview
      • 9.1.9.2 Financial Performance
      • 9.1.9.3 Product Benchmarking
Product Code: GVR-2-68038-416-1

List of Tables

  • Table 1 Disposable income for Latin American regions, (Net, annual growth rate)
  • Table 2 List of key market entrants and strategies suitable to enter the EU market of nutrition & supplements
  • Table 3 List of distributors in Latin America
  • Table 4 List of key distributors for sports nutrition brands
  • Table 5 List of key distributors for supplements brands
  • Table 6 Latin America nutrition and supplements market, by product, 2016 - 2030 (USD Million)
  • Table 7 Latin America nutrition and supplements market, by consumer group, 2016 - 2030 (USD Million)
  • Table 8 Latin America nutrition and supplements market, by formulation, 2016 - 2030 (USD Million)
  • Table 9 Latin America adult market, by age group, 2016 - 2030 (USD Million)
  • Table 10 Latin America nutrition and supplements market, by sales channel, 2016 - 2030 (USD Million)
  • Table 11 R&D Projects in Food Technology as of 2014
  • Table 12 R&D Projects in Nutritional Science as of 2014
  • Table 13 Brazil nutrition and supplements market, by product, 2016 - 2030 (USD Million)
  • Table 14 Brazil nutrition and supplements market, by consumer group, 2016 - 2030 (USD Million)
  • Table 15 Brazil dietary supplements market, by type, 2016 - 2030 (USD Million)
  • Table 16 Brazil nutrition and supplements market, by formulation, 2016 - 2030 (USD Million)
  • Table 17 Brazil adult market, by age group, 2016 - 2030 (USD Million)
  • Table 18 Brazil nutrition and supplements market, by sales channel, 2016 - 2030 (USD Million)
  • Table 19 Diabetes prevalence in MEXICO, by country in 2013 & 2016
  • Table 20 Mexico nutrition and supplements market, by product, 2016 - 2030 (USD Million)
  • Table 21 Mexico nutrition and supplements market, by consumer group, 2016 - 2030 (USD Million)
  • Table 22 MEXICO dietary supplements market, by type, 2016 - 2030 (USD Million)
  • Table 23 MEXICO nutrition and supplements market, by formulation, 2016 - 2030 (USD Million)
  • Table 24 MEXICO adult market, by age group, 2016 - 2030 (USD Million)
  • Table 25 MEXICO nutrition and supplements market, by sales channel, 2016 - 2030 (USD Million)
  • Table 26 Argentina nutrition and supplements market, by product, 2016 - 2030 (USD Million)
  • Table 27 Argentina nutrition and supplements market, by consumer group, 2016 - 2030 (USD Million)
  • Table 28 Argentina dietary supplements market, by type, 2016 - 2030 (USD Million)
  • Table 29 Argentina nutrition and supplements market, by formulation, 2016 - 2030 (USD Million)
  • Table 30 Argentina adult market, by age group, 2016 - 2030 (USD Million)
  • Table 31 Argentina nutrition and supplements market, by sales channel, 2016 - 2030 (USD Million)

List of Figures

  • Fig. 1 Latin America nutrition and supplements market: Market snapshot (USD Million), 2016
  • Fig. 2 Latin America nutrition and supplements market segmentation
  • Fig. 3 Latin America nutrition and supplements market dynamics
  • Fig. 4 Latin America nutrition and supplements market driver impact
  • Fig. 5 Latin America nutrition and supplements market restraints impact
  • Fig. 6 Penetration & Growth Prospects Mapping
  • Fig. 7 Latin America nutrition and supplements market - PESTLE Analysis
  • Fig. 8 Industry Analysis - Porter's Five Forces
  • Fig. 9 Brand Growth Matrix for Sports Nutrition
  • Fig. 10 Brand Growth Matrix for Dietary Supplements
  • Fig. 11 Latin America nutrition and supplements market, Product outlook key takeaways (USD Million)
  • Fig. 12 Latin America nutrition and supplements market: Product movement analysis (USD Million)
  • Fig. 13 Latin America sports nutrition market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 14 Latin America dietary supplements market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 15 Latin America vitamins market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 16 Latin America minerals market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 17 Latin America enzymes market estimates and forecasts, 2016 - 2030 (USD Million))
  • Fig. 18 Latin America amino acid market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 19 Latin America conjugated linoleic acids market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 20 Latin America others market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 21 Latin America functional foods market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 22 Latin America nutrition and supplements market, Consumer group outlook key takeaways (USD Million)
  • Fig. 23 Latin America nutrition and supplements market: Consumer group movement analysis (USD Million)
  • Fig. 24 Latin America infant market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 25 Latin America children market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 26 Latin America adult market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 27 Age group 20 - 30 market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 28 Age group 31 - 40 market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 29 Age group 41 - 50 market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 30 Age group 51 - 65 market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 31 Latin America pregnant market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 32 Latin America geriatric market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 33 Latin America nutrition and supplements market, Formulation outlook: key takeaways (USD Million)
  • Fig. 34 Latin America nutrition and supplements market: Formulation movement analysis (USD Million)
  • Fig. 35 Latin America tablet market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 36 Latin America capsules market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 37 Latin America powder market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 38 Latin America soft gels market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 39 Latin America liquids market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 40 Latin America others market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 41 Latin America nutrition and supplements market, Sales channel outlook: Key takeaways (USD Million)
  • Fig. 42 Latin America nutrition and supplements market: Sales channel movement analysis (USD Million)
  • Fig. 43 Regional marketplace: Key takeaways
  • Fig. 44 Latin America nutrition and supplements market: Country movement analysis (USD Million)
  • Fig. 45 Latin America nutrition and supplements market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 46 Brazil nutrition and supplements market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 47 Mexico nutrition and supplements market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 48 Argentina nutrition and supplements market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 49 Sweden nutrition and supplements market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 50 Denmark nutrition and supplements market estimates and forecasts, 2016 - 2030 (USD Million)
  • Fig. 51 Norway nutrition and supplements market estimates and forecasts, 2016 - 2030 (USD Million)
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