South America Botanical Supplements Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.40 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Botanical Supplements Market Analysis
The South America Botanical Supplements market is projected to register a CAGR of 6.4% during the forecast period, 2022-2027.
Consumers are turning to health-imparting herbal supplements as a result of rising health consciousness, increased nutrition deficiency concerns, and more attention to preventative healthcare. Alternative treatments are produced by a number of companies to help women who frequently experience issues including menopausal hot flashes and insomnia. Fish oils, detox drinks, probiotic beverages, and other herbal supplements are among the growing list of herbal offerings. Additionally, consumers prefer to consume botanical supplements by adding them to their meals and snacks as these supplements add an authentic flavor along with providing health benefits. For instance, Echinacea plant extract and green tea extract both effectively support cardiovascular health.
Furthermore, the COVID-19 epidemic has highlighted the importance of botanical supplements to support the immunity system. The demand for botanical supplement products is further fueled by rising preferences for a healthy, active lifestyle in respone to the COVID-19 outbreak.
South America Botanical Supplements Market Trends
This section covers the major market trends shaping the South America Botanical Supplements Market according to our research experts:
Increased Focus on Preventive Healthcare
The South America botanical supplements market is expanding due to the rising importance of preventive healthcare with a willingness to spend on health and wellness products such as vitamin and mineral supplements. Additionally, the prevalence of lifestyle disorders including diabetes, hypertension, and obesity is driving the demand for botanical supplements. Further, busy and stressful lifestyles are influencing consumer spending on essential nutrient supplements like magnesium, iodine, iron, zinc, calcium, vitamin C, vitamin B complex, and vitamin D, as they can significantly reduce levels of anxiety and stress.
Growing consumer knowledge of the health advantages of taking botanical supplements, due to the extensive promotions of herbal products through social media platforms, television advertisements, and other health awareness programs has helped in the market growth. Owing to the growing demand and changing consumer preferences, supplements with new beneficial herbs, such as maca, ashwagandha, and Rhodiola, and distinctive flavors such as berries, goji, acerola, and schisandra, ayurvedic ginger, turmeric, cardamom, etc. are being launched by the major brands in the South America market.
Brazil Holds a Significant Market Share
Brazil, which has the highest population density in the region, is identified as the prominent botanical supplement market in South America owing to the expanding youthful population and diversified economic foundation. A few of the driving factors behind the expansion of the botanical supplement market are the growing middle-class consumer groups, its rising disposable income, and advancement in distribution networks. Further, the rising popularity of the "alt-medicine" trend is anticipated to result in significant revenue growth for botanical supplement brands. Protein and amino acid-based botanical supplements have increasingly gained popularity, mainly among athletes and individuals involved in vigorous physical activities. The growing emphasis on staying healthy and in shape and rising participation in sports, health clubs, sports clubs, and gyms are some of the key drivers contributing to the growth of the segment. For instance, the data disclosed in the IHRSA (The Global Health & Fitness Association) Global Report 2020, Brazil has more than 34,500 gyms with a client penetration rate of around 4.6%.
South America Botanical Supplements Industry Overview
The South America botanical supplements market is competitive and comprises several global and regional brands. Amway Corporation, Herbalife Nutrition Limited, and GNC Holdings Inc., NOW Foods, and Dr. Willmar Schwabe GmbH & Co. KG (Nature's Way Products, LLC ) are some of the key players that market and sells botanical supplements across the region via widespread distribution channels. Further, these companies are developing new formulations, and attractive packaging formats, and extending their online presence to acquire a larger customer base.
South America Botanical Supplements Market Leaders
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Herbalife Nutrition Limited
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Amway Corporation,
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GNC Holdings Inc
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NOW Foods
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Dr. Willmar Schwabe GmbH & Co. KG (Nature's Way Products, LLC )
*Disclaimer: Major Players sorted in no particular order
South America Botanical Supplements Market News
- In October 2021, GNC Holdings Inc. and GLAXON have established a strategic product partnership. GLAXON supplies nutrition supplements for athletes. The collaboration with GNC is the first to emerge from GNC Ventures, the subsidiary that fosters innovation and technology and is connected to GNC.
- In March 2021, a new line of mushroom capsules was introduced by Gaia Herbs to support overall wellness and health. Reishi, Lion's Mane, Cordyceps, Turkey Tail, Immune, and Respiratory Mushroom Blends are all varieties of mushrooms. These products are made to assist healthy liver function, energy and stamina, stress management, and lung, immune, heart, brain, and neurological health, among other body functions.
- In January 2021, Herbalife Nutrition Announced an agreement to repurchase around USD 600 Million of the company's shares owned by Carl C. Icahn and several of his affiliates.
South America Botanical Supplements Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Form
5.1.1 Powdered
5.1.2 Capsules
5.1.3 Tablets
5.1.4 Other Forms
5.2 By Distribution Channel
5.2.1 Supermarket/Hypermarket
5.2.2 Pharmacies/Drug Stores
5.2.3 Online Stores
5.2.4 Other Distribution Channels
5.3 By Geography
5.3.1 Argentina
5.3.2 Brazil
5.3.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Herbalife Nutrition Limited
6.3.2 Amway Corporation
6.3.3 GNC Holdings Inc
6.3.4 NOW Foods
6.3.5 Dr. Willmar Schwabe GmbH & Co. KG (Nature's Way Products, LLC )
6.3.6 Gaia Herbs
6.3.7 MusclePharm
6.3.8 Nature's Bounty Co.
6.3.9 Arizona Natural Products
6.3.10 Blackmores Limited
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
9. DISCLAIMER
South America Botanical Supplements Industry Segmentation
Botanical supplements also known as herbal supplements, are products made from plants, plant parts, or plant extracts. South America botanical supplements market (henceforth referred to as the market studied) is segmented by form, distribution channel, and geography. Based on form, the market is segmented into powdered, capsules, tablets, and other forms. Based on distribution channels, the market is segmented into supermarkets/hypermarkets, pharmacies/ drug stores, online stores, and other distribution channels. Based on geography, the market is segmented into Argentina, Brazil, and the rest of South America. For each segment, the market sizing and forecast have been done based on value (in USD million).
| By Form | |
| Powdered | |
| Capsules | |
| Tablets | |
| Other Forms |
| By Distribution Channel | |
| Supermarket/Hypermarket | |
| Pharmacies/Drug Stores | |
| Online Stores | |
| Other Distribution Channels |
| By Geography | |
| Argentina | |
| Brazil | |
| Rest of South America |
South America Botanical Supplements Market Research FAQs
What is the current South America Botanical Supplements Market size?
The South America Botanical Supplements Market is projected to register a CAGR of 6.40% during the forecast period (2024-2029)
Who are the key players in South America Botanical Supplements Market?
Herbalife Nutrition Limited, Amway Corporation,, GNC Holdings Inc, NOW Foods and Dr. Willmar Schwabe GmbH & Co. KG (Nature's Way Products, LLC ) are the major companies operating in the South America Botanical Supplements Market.
What years does this South America Botanical Supplements Market cover?
The report covers the South America Botanical Supplements Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Botanical Supplements Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Botanical Supplements Industry Report
Statistics for the 2024 South America Botanical Supplements market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Botanical Supplements analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
