Latin America Wellness Supplements Market was worth USD 24.91 billion in 2021 and estimated to be growing at a CAGR of 7.3%, to reach USD 35.42 billion by 2026.
Supplements are additional vitamins, minerals, fatty acids or similar nutrients that are consumed in tandem with a balanced diet to provide the body with extra nutrients. They should not be used for the treatment of any disease or its prevention with the exception being vitamins that can be administered in appropriate quantities by trained medical personnel.
There are more than 50000 different varieties of wellness supplements available. The most dominant company producing wellness supplements cannot be mentioned as there is no single distinct leader in the wellness supplements market as each product segment is dominated by a different player. In addition to the consumed dietary supplements, wellness supplements also consist of beauty products such as Anti-Aging and Anti-Acne products.
The rise of the wellness supplements market in the Latin America region is driven by the rising healthcare costs. With the prevalence of chronic diseases growing, the amount of money people spend on healthcare is also increasing. As such people are turning their attention from disease care to disease prevention. As such the demand for wellness supplements is increasing. The rising geriatric population is another factor that drives the market. However, regulatory compliance is expected to restrain the market upto some extent along with the high costs associated with supplements.
The Latin America Wellness Supplements market is broadly classified based on products into Dietary Supplements such as Vitamin, Mineral, Protein and Herbal, Fortified Food & Beverages such as Omega Fatty Acid, Probiotic Food, Branded Iodinated Salt, Branded Wheat Flour, Energy Drinks, Sports Drinks and Fortified Juices, Food Intolerance Products such as Gluten-free, Lactose-free and Diabetic food and Dermo-Cosmetic Skin Essentials such as Anti-Aging, Anti-Cellulite and Anti-Acne Supplements.
Geographically the Latin America Wellness Supplements Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Other Latin America markets also form a minor part of the region. The region is one of the most promising markets in coming years with the developing economies of the countries in the region. This is evident from the high CAGR of the region which is second only to Asia-Pacific.
Key Players in the Market:
Major Key Players in the Latin America Wellness Supplements Market are
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5.1.2 Dietary Supplements
5.1.3 Fortified Food & Beverages
5.1.4 Food Intolerance Products
5.1.5 Dermo-Cosmetic Skin Essentials
5.1.6 Y-o-Y Growth Analysis, By Product
5.1.7 Market Attractiveness Analysis, By Product
5.1.8 Market Share Analysis, By Product
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Product
6.1.5 Market Share Analysis
220.127.116.11 By Geographical Area
18.104.22.168 By Product
6.4 Rest of Latin America
7.1 PESTLE analysis
7.2 Porter’s Five Analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Abbott Laboratories
8.4 Otsuka Holdings
8.6 Archer Daniels Midland Company
8.7 Glanbia Inc.
8.8 NBTY Inc.
8.9 GNC Holdings
8.10 Nu Skin Enterprises
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
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