The Latin America Nutrition And Dietary Supplements Market size
is expected to reach USD 47.5 billion by 2025, according to a new report by
Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.8% over the
forecast period. Growing expenditure on nutrition and dietary supplements,
disposable income, and consumer awareness are some of the key market drivers.
Changing regulatory framework to ensure drug safety in Latin American countries
such as Mexico and Argentina is also expected to positively impact market
growth in the forthcoming years.
Growing demand for nutrition and dietary supplements among
geriatric population is also one of the considerable market drivers. Nutrition
plays a vital role in maintaining health of geriatric population and has a
significant impact on aging process. Risk of malnutrition, functional
impairments, age-related diseases, and physical inabilities are prevalent among
elderly population. These issues might interfere with healthy nutritional
status of an individual. Thus, dependence on these supplements has increased
over the past few years.
Growing middle class population coupled with high spending on
nutrition and dietary supplements is a key driver for the market. There are nearly
300 million middle-class people in Latin America. This number has more than
doubled over the period of past 30 years representing a rise in consumer buying
power. This factor is anticipated to positively impacting market expansion over
the forecast period.
Browse Details of Report @
https://www.grandviewresearch.com/industry-analysis/latin-america-nutrition-dietary-supplements-market
https://www.grandviewresearch.com/industry-analysis/latin-america-nutrition-dietary-supplements-market
Further key findings from the report suggest:
- Additional
supplements segment accounted for the largest revenue share in 2016 owing
to rising awareness, spending on supplements, and various initiatives
undertaken to prevent malnutrition
- Powder
emerged as the largest formulation segment in terms of revenue share in
2016 owing to ease of consumption as compared to other formulations.
However, the others segment that includes gummies, lollipops, lozenges,
and shots is projected to expand at the fastest CAGR
- Adult
emerged as the largest consumer segment in 2016 while children segment is
expected to witness lucrative CAGR over the forecast period
- In
terms of geography, Brazil accounted for the largest revenue share in
2016. Argentina is expected to expand at the fastest CAGR in near future
- Herbalife;
Bayer AG; Pfizer, Inc.; and Merck are the major players operating in the
Latin America nutrition and dietary supplements market. The market is
majorly dominated by multinational companies. However, domestic players
are also increasingly investing in this market.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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