Latin America Immune Health Supplements Market

Latin America Immune Health Supplements Market Analysis:

Latin America Immune Health Supplements Market size is estimated at USD xx.xx million in 2021 and is expected to reach an over of USD xx.xx million by the end of the assessment period. The Latin America Immune Health Supplements Market is expected to experience moderate growth to record a CAGR of xx.xx % throughout the forecast period (2022 - 2027).

Latin America Immune Health Supplements Market Overview:

Immune care has become a vital part of today's fast-paced lifestyle as consumers are increasingly concerned about their health. Today's time-saving consumers, including those who eat a healthy and balanced diet, are supported by nutritional supplements. Consumers around the world feel the need to strengthen their immune systems to avoid the unpleasant consequences of infectious diseases. For manufacturers in the immune health supplement market, the primary concern is finding recognized ingredients capable of meeting these consumer demands to strengthen their immunity. For example, elderberry, medicinal mushrooms, probiotics, and omega-3 fatty acids are in high demand by manufacturers as key ingredients in supplement making. Additionally, the research and development of supplements for immune health continues to expand to prepare highly effective nutritional supplements for immunity.

Recent Developments                               

1. In April 2020, Esperer Onco Nutrition Pvt. Ltd., a Mumbai-based startup, has announced a major fundraising round from Zenfold Ventures. The company is focused on using these funds to expand its reach in the US and European markets. It would also create a world-class talent pool.
2. In April 2020, Royal DSM, a global science-based sustainable living, health and nutrition company, announced the completion of the acquisition of Glycom, a leading supplier of human milk oligosaccharides (HMO). With the help of this acquisition, DSM is focused on maintaining its leadership in early nutrition and dietary supplements.

Market Drivers and Restraints:

Worldwide, millions of clients take immunity boosters for good health. There is a growing interest in personal fitness and therefore it is creating a great demand for products that stimulate the immune system and that contain vitamins and herbal products, probiotics and the like. Additionally, seasonal health problems, including the flu virus, have sparked customer interest in immune health supplements and are helping to boost sales of immune supplements. For example, in the United States, people are more aware of the well-being of their children and therefore spend dollars to supplement their nutrition. Factors such as increased awareness, increased consumption of immunity-boosting supplements along with increased disposable income are likely to drive the growth of the immune health supplement market. Additionally, physicians and consumers are increasingly aware that the immune system plays a vital role in critical areas of health, helping to alleviate other chronic health problems. According to the researchers, almost all areas of health are affected by the immune system. It includes the digestive system, the brain, and the cardiovascular system. As our systems are challenged every day and not just during seasonal flu, global demand for immune stimulants will drive market growth in the near future. For example, Embria has funded several clinical research studies showing EpiCor as a multivitamin to demonstrate and balance the immune system providing benefits throughout the year. However, some of the supplements can have side effects, especially when taken before surgery or when combined with other medications. Immune health supplements can also cause problems for those with certain conditions. Also, the effects of many supplements have not been tested in children, pregnant women, and other groups. Also, supplements are regulated like food, not medicine.

Market Segmentation

The Market segmentation for Latin America Immune Health Supplements can be divided into Type, form, source type, and distribution channels. Based on ingredient type, the immune health supplement market has been segmented into vitamins, minerals, herbal extracts, probiotics, omega3 fatty acids, amino acids, and others. The vitamins segment had a dominant share of this largest market in 2019. The dominance is due to the increasing consumption of vitamin supplements. On the basis of form, the market is segmented into Soft Gel Pills / Capsules, Tablets, Powders, Liquids and others. Globally, the tablet segment dominated the immune health supplement market, followed by the capsule segment. Factors such as long shelf life, affordability, and convenient packaging are expected to increase demand for supplements in capsules and tablets. In terms of source type, the market is segmented into plants and animals. The herbal segment is expected to have a dominant immune health supplement market share during the forecast period. However, that does not mean that there are not enough sales of animal supplements. Based on the distribution channels, the market has been segmented into hypermarkets / supermarkets, pharmacies and drug stores, online stores, specialized stores and others. The pharmacy and drugstore segment dominated in 2019 and is expected to maintain its position during the forecast period. Hypermarkets / supermarkets are the preferred outlets after pharmacies and drugstores. In countries like Indonesia, India, and Brazil, people buy supplements in supermarkets, which contributes to overall income generation.

Impact of covid-19 on Latin America Immune Health Supplements Market:

The market has a great positive impact as consumers seek immunity boosters to avoid any type of infectious disease. As the entire world has been affected by the COVID-19 pandemic, demand is likely to increase universally and exponentially. But, the main challenge would be to form an adequate supply chain network to certify the correct distribution of the products. Positively, COVID-19 and social distancing have caused consumers to reconsider their well-being and this is reflected in their purchasing priorities. According to Nutrition Business Journal, it is no wonder that the purchase of immune supplements in April 2020 has increased significantly.

Regional Analysis:

The market for Latin America Immune Health Supplements has been categorized on the basis of geography to offer a clear understanding of the market. The Latin America Immune Health Supplements Market has been divided into Mexico, Brazil, Peru, Chile, and the rest of the Latin America. Latin America region will become a leader in the near future, supported by people's growing awareness of personal health and well-being. Additionally, the increasing prevalence of lifestyle-related diseases such as diabetes and obesity is believed to aid market growth in this region.

Leading Company:

Herbalife Nutrition had the largest share of the Latin America Immune Health Supplements Market in terms of sales revenue in 2021.

Key Players:

Major players in the Latin America Immune Health Supplements Market include Bayer AG, USANA Health Sciences, Herbalife Nutrition, Alticor Inc., Royal DSM, Glanbia, Blackmores Limited, and BioGaia