South & Central America Nutraceuticals Market Forecast to 2031 - Regional Analysis

Description

List of Tables

The South & Central America nutraceuticals market was valued at US$ 28.19 billion in 2023 and is expected to reach US$ 47.12 billion by 2031; it is estimated to register a CAGR of 6.6% from 2023 to 2031.

Consumer Focus on Preventive Health Fuels South & Central America Nutraceuticals Market

Awareness regarding health and nutrition has increased significantly in the past few years. With busy lifestyles and hectic work schedules, people fail to concentrate on their health, fitness, and nutrition. This has led to an increase in the prevalence of diseases such as obesity, diabetes, high blood pressure, skin problems, and digestive issues. The World Health Organization (WHO) refers to cardiovascular diseases as a leading cause of death across the world. According to a report from the World Heart Federation (WHF), the number of death cases from cardiovascular diseases rose from 12.1 million in 1990 to 20.5 million in 2021. Such a high prevalence of cardiovascular diseases drives consumer focus toward preventive health. As a result, the demand for nutraceuticals such as dietary supplements, and functional food and beverages with nutritional benefits has increased among the masses as they focus on preventive health. Nutraceuticals support the healthy functioning of the digestive tract, spanning from mouth to gut, along with controlling the growth of harmful microorganisms inside these organs.

Consumers preferably opt for self-directed care while receiving treatment for lifestyle illnesses such as malnutrition and cardiovascular disorders, which is further contributing to the surging demand for dietary supplements and nutraceuticals. After the COVID-19 pandemic, there has been a sharp rise in the popularity of functional foods and dietary supplements, as people have been prioritizing their health and actively searching for healthy alternatives and fitness activities to prevent lifestyle-related illnesses. Thus, immunity-boosting supplements have gained significant popularity in the last few years due to altered consumer behavior and purchasing habits. Thus, the rising consumer focus on preventive health bolsters the growth of the nutraceuticals market.

South & Central America Nutraceuticals Market Overview

Owing to the rising health concerns, consumers from South & Central American countries are becoming more aware of the benefits of nutritional intake. Additionally, the increasing purchasing power of the consumers further contributes to the growth of the market. Furthermore, the inclination toward preventative healthcare practices and the rising prevalence of multivitamin deficiency, often as a result of inadequate intake, are bolstering the demand for dietary supplements in this region. In addition, demand for functional food and beverages is set to rise as people are struggling with issues such as stress, indigestion, and weight management needs. The nutraceuticals market in South & Central America is dominated by key players such as Herbalife Ltd, Abbott Nutrition, Amway Corp., and Bayer AG. Market players are continuously involved in merger and acquisition activities to introduce innovative products in the market. In July 2024, Alvinesa Natural Ingredients acquired Industrias Vinicas and Dervinsa, enhancing its presence in the American market and improving its by-product capabilities, particularly involving biofuels, functional foods, grape tannins, dietary supplements, and polyphenols.

South & Central America Nutraceuticals Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Nutraceuticals Market Segmentation

The South & Central America nutraceuticals market is categorized into type, distribution channel, and country.

Based on type, the South & Central America nutraceuticals market is segmented into gr functional foods, functional beverages, and dietary supplements. The functional foods segment held the largest market share in 2023. The dietary supplements segment is further sub segmented into general wellness, sports nutrition, weight management, immune health, and others.

In terms of distribution channel, the South & Central America nutraceuticals market is segmented into supermarkets and hypermarkets, specialty stores, online retail, convenience stores, and others. The supermarkets and hypermarkets segment held the largest market share in 2023.

By country, the South & Central America nutraceuticals market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America nutraceuticals market share in 2023.

Glanbia Plc, NOW Health Group Inc, Amway Corp, Nature's Bounty, Garden of Life LLC, Danone SA, GNC Holdings LLC, Quest Nutrition LLC, Kellanova, and Chobani LLC are some of the leading companies operating in the nutraceuticals market.

Product Code: BMIRE00031848

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macroeconomic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country-level data:

4. South & Central America Nutraceuticals Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors or Suppliers
- 4.3.4 Retailers

5. South & Central America Nutraceuticals Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Consumer Focus on Preventive Health
- 5.1.2 Innovations and Strategic Developments by Market Players
5.2 Market Restraints
- 5.2.1 Complexity of Regulations
5.3 Market Opportunities
- 5.3.1 Rising Penetration of E-Commerce
5.4 Future Trends
- 5.4.1 Plant-Based and Organic Nutraceuticals
5.5 Impact of Drivers and Restraints:

6. Nutraceuticals Market - South & Central America Analysis

6.1 South & Central America Nutraceuticals Market Revenue (US$ Billion), 2021-2031
6.2 South & Central America Nutraceuticals Market Forecast Analysis

7. South & Central America Nutraceuticals Market Analysis - by Type

7.1 Functional Foods
- 7.1.1 Overview
- 7.1.2 Functional Foods: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
7.2 Functional Beverages
- 7.2.1 Overview
- 7.2.2 Functional Beverages: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
7.3 Dietary Supplements
- 7.3.1 Overview
- 7.3.2 Dietary Supplements: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
7.4 General Wellness
- 7.4.1 Overview
- 7.4.2 General Wellness: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
7.5 Sports Nutrition
- 7.5.1 Overview
- 7.5.2 Sports Nutrition: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
7.6 Weight Management
- 7.6.1 Overview
- 7.6.2 Weight Management: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
7.7 Immune Health
- 7.7.1 Overview
- 7.7.2 Immune Health: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
7.8 Others
- 7.8.1 Overview
- 7.8.2 Others: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)

8. South & Central America Nutraceuticals Market Analysis - by Distribution Channel

8.1 Supermarkets and Hypermarkets
- 8.1.1 Overview
- 8.1.2 Supermarkets and Hypermarkets: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
8.2 Specialty Stores
- 8.2.1 Overview
- 8.2.2 Specialty Stores: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
8.3 Online Retail
- 8.3.1 Overview
- 8.3.2 Online Retail: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
8.4 Convenience Stores
- 8.4.1 Overview
- 8.4.2 Convenience Stores: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)

9. South & Central America Nutraceuticals Market - Country Analysis

9.1 South & Central America
- 9.1.1 South and Central America Nutraceuticals Market Overview
- 9.1.2 South & Central America Nutraceuticals Market - Revenue and Forecast Analysis - by Country
  - 9.1.2.1 South & Central America Nutraceuticals Market - Revenue and Forecast Analysis - by Country
  - 9.1.2.2 Brazil: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
    - 9.1.2.2.1 Brazil: South & Central America Nutraceuticals Market Share - by Type
    - 9.1.2.2.2 Brazil: South & Central America Nutraceuticals Market Share - by Distribution Channel
  - 9.1.2.3 Argentina: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
    - 9.1.2.3.1 Argentina: South & Central America Nutraceuticals Market Share - by Type
    - 9.1.2.3.2 Argentina: South & Central America Nutraceuticals Market Share - by Distribution Channel
  - 9.1.2.4 Rest of South & Central America: South & Central America Nutraceuticals Market - Revenue and Forecast, 2021-2031 (US$ Billion)
    - 9.1.2.4.1 Rest of South & Central America: South & Central America Nutraceuticals Market Share - by Type
    - 9.1.2.4.2 Rest of South & Central America: South & Central America Nutraceuticals Market Share - by Distribution Channel

10. Competitive Landscape

10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration

11. Industry Landscape

11.1 Overview
11.2 Agreements, Collaborations, And Joint Ventures
11.3 Product Launch
11.4 Expansions And Other Strategic Developments

12. Company Profiles

12.1 Glanbia Plc
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 NOW Health Group Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Amway Corp
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Nature's Bounty
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Garden of Life LLC
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Danone SA
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 GNC Holdings LLC
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Quest Nutrition LLC
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Kellanova
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Chobani LLC
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners