The nutraceuticals market size in Latin America is estimated to reach USD 68.94 billion by 2032 from USD 35.46 billion in 2024, growing at a CAGR of 8.67% from 2024 to 2032.
Nutraceutical defines nutrition and pharmaceuticals; it describes products obtained from food sources with added health benefits along with the basic food values. Consumers take dietary supplements not only to fulfill the daily nutrient requirement but also as disease prevention and physical performance boosters. Nutraceuticals have emerged so well due to their safety and potential nutritional and therapeutic values. Health improvement is seen in people using supplement food or fortified food. Along with just providing nutrients, it deals with gut complications as well, such as Crohn’s disease, ulcerative colitis, gluten therapy-resistant celiac and irritable bowel syndrome that results from imbalance and overgrowth of intestinal microbial flora.
The key drivers of the market are an increase in lifestyle diseases all over the world, inadequate nutrition, and an increase in life expectancy. A shift is observed from synthetic supplements to natural or organic ingredients amongst consumers.
Growing health consciousness among people in Latin America has created an environment perfectly suitable for the Latin American nutraceuticals market to thrive. The growth of the Latin American nutraceuticals market is stirred by multiple factors, including the rising cost of healthcare, a boost in the number of entrepreneurs foraying into the nutraceuticals industry, growing health consciousness among consumers, and the introduction of different effective products.
Lack of awareness in developing countries about these nutraceutical ingredients is restricting the growth of the market in the Latin American region.
The dietary supplements segment leads the application market, while photochemical & plant extracts are the fastest-growing division.
Companies playing a major role in the Latin America nutraceuticals market include E. I. du Pont de Nemours and Company, General Mills, Inc., Cargill, Royal DSM N.V., Groupe Danone S.A., BASF SE, and Archer Daniels Midland Company.
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