Latin America Nutritional Supplements Market Is Projected To Reach USD 97.3 Billion By 2030

Latin America Nutrition & Dietary Supplements Industry Overview

The Latin American nutrition and dietary supplements market size was valued at USD 22.01 billion in 2016. It is projected to expand at a CAGR of 8.8% over the forecast period.

Increasing prevalence of chronic diseases, geriatric population, and a trend of active living are the key driving factors. Growing disposable income is also a considerable factor positively impacting the market.

According to the U.S. Census Bureau, the geriatric population in Latin America and the Caribbean was nearly 47 million in 2015 and is projected to surpass 82.5 million by 2030. Deficiency of essential nutrients such as vitamin D is high among the elderly population owing to reduced dietary intake, impaired intestinal absorption, and diminished sunlight exposure. Thus, the demand for nutrition and dietary supplements is expected to increase among this population subset in the coming years.

Gather more insights about the market drivers, restrains and growth of the Latin America Nutrition & Dietary Supplements Market

Although overall nutritional status has improved significantly, more initiatives are required to address public health concerns such as malnutrition, vitamin A deficiency, anemia, and stunting. Various public and private organizations are undertaking initiatives to address these health concerns in Latin America. Thus, the demand for nutrient and dietary supplements is projected to rise in this region. Nutrition International (formerly referred to as Micronutrient Initiative) is the NGO dedicated to tackling malnutrition which is the greatest health concern globally.

This organization has undertaken initiatives in Central and South American countries such as Guatemala and Bolivia for addressing malnutrition. For instance, the Government of Bolivia initiated a Programa Multisectorial Desnutrición Cero (PMDC) or Multi-Sectoral Zero Malnutrition Program in collaboration with Nutrition International. This program was focused on micronutrient interventions such as the provision of iron-folic acid for lactating and pregnant women, vitamin A for children under five years of age, and multimicronutrient for children of six months to 23 months of age.

Obesity is another health challenge in Latin America. According to the estimates published by Lancet, there were around 300 million overweight adults in Latin America in 2014. Out of this, approximately 100 million people were obese. Thus, the demand for nutritional supplements for managing obesity is expected to rise in the forthcoming years.

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

• Nutritional Supplements Market - The global nutritional supplements market size is expected to reach USD 358.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. Increasing awareness regarding health across the globe has markedly helped the market to thrive. In the wake of the pandemic, people are now more aware of the impact of an unhealthy lifestyle.

• MEA Parenteral Nutrition Market - The Middle East and Africa parenteral nutrition market size was valued at USD 203.6 million in 2016 and is expected to grow at a CAGR of 7.1% over the forecast period. Increasing natality rate, rising number of premature births, risk of malnutrition, and increasing prevalence of chronic disorders such as cancer are the key growth rendering drivers responsible for the lucrative growth of the market.

Latin America Nutrition & Dietary Supplements Market Segmentation

Grand View Research, Inc. has segmented the Latin America nutrition and dietary supplements market report based on function, formulation, consumer, and country:

• Latin America Nutrition & 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 & Dietary Supplements Formulation Outlook (Revenue, USD Million, 2014 - 2025)

  • Tablets

  • Capsules

  • Liquid

  • Powder

  • Soft Gel

  • Others

• Latin America Nutrition & Dietary Supplements Consumer Outlook (Revenue, USD Million, 2014 - 2025)

  • Infant

  • Children

  • Adult

  • Pregnant

  • Geriatric

• Latin America Nutrition & Dietary Supplements Country Outlook (Revenue, USD Million, 2014 - 2025)

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Chile

    • Columbia

    • Costa Rica

    • Venezuela

Key Companies profiled:

Some prominent players in the Latin America nutrition & dietary supplements market include:

• Herbalife

• Bayer AG

• Pfizer, Inc.

• Merck KGaA

Order a free sample PDF of the Latin America Nutrition & Dietary Supplements Market Intelligence Study, published by Grand View Research.