South America Dietary Supplement Market - Growth, Trends and Forecasts (2019 - 2024)

South America Dietary Supplement Market is segmented by Type (Vitamins, Botanicals, Minerals, Fatty Acids, Enzymes, Protein), by End-User (Adult, Infant, Children, Pregnant Women, Elderly) & Geography

Market Snapshot

Market snapshot
Study Period:

2016-2024

Largest Market:

Brazil

Fastest Growing Market:

Argentina

CAGR (2019-2024):

7.7%

Key Players:

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Market Overview

South America Dietary Supplement market is forecasted to reach USD 9.70 billion by 2024, witnessing a CAGR of 7.7% during the forecast period (2019 - 2024).

  • Brazil is leading the dietary supplement market in South America. Countries like Brazil, Chile, and Peru are expected to experience potential market growth, while the other countries of the region, including Argentina, Venezuela, and Columbia in particular, have become more aware of health benefits of dietary supplements, which is likely to fuel the overall regional demand.
  • The major challenge for market growth in the region is varying regulations. For example, Brazil has more developed dietary supplement regulations, as compared to countries like Peru or Ecuador.

  • The vitamin and mineral delivery systems in the form of capsules are very much prevalent in Argentina. The overall growth of the dietary supplement market depends heavily on advertising and promotional activities.

Scope of the Report

The report on South America dietary supplements market offers key insights into the latest developments. Based on type, the South America dietary supplements market has been segmented into vitamin, mineral, botanical, enzyme, fatty acid, protein, and others. Based on end users, the market has been segmented into adults, infant, children, pregnant women, and elderly. 

By Application
Adult
Infant
Children
Pregnant Woman
Elderly
By Type
Vitamin
Mineral
Botanical
Enzyme
Fatty Acid
Protein
Others
Geography
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Vitamin Accounted for the Largest by Type Market

The preventive healthcare practices that are in vogue nowadays, coupled with multivitamins deficiency that is commonly observed owing to inadequate intake, are driving the demand for vitamin supplements. Additionally, the increasing number of personalized online systems available to consumers free of charge is driving the demand for dietary supplements.

Both manufacturers and retailers are beginning to offer free access to “wellness tools” that create a customized vitamin list based on a consumer’s specific conditions and need. High prevalence of vitamin deficiency among healthy postmenopausal women in this region is expected to further boost the demand. Regular usage of vitamins seems to increase with age, and women tend to take more supplements than men.

 

Vitamin segment

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Brazil Dominated the South America Dietary Supplement Market

Brazil has a young and growing population and has a diverse economic base. The growing middle class, with increasing disposable income, and enhanced technology are some of the contributing factors to the growth of the dietary supplement market. The country has rich sources of natural local ingredients, such as guaraná or yerba mate, which can offer huge investment opportunities for companies. The increasing presence of supplement products is further spurred by a better-educated middle class that is willing to spend on dietary supplements, as it perceives them as both lifestyle accessories and aid to healthier, longer lives. Government efforts and health awareness campaigns targeted toward obesity and diabetes have prompted consumers to opt for weight-management and blood-sugar-regulating supplements. 

 

Brazil dietary supplement

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Competitive Landscape

The South American dietary supplement market is majorly involved in raw materials, especially botanicals, used traditionally by indigenous people. Herbalife Limited, Bayer AG, and Pfizer Inc. are other active companies in the global dietary supplement market. The companies are increasing their product line and also expanding their presence, worldwide. Consumers prefer innovation in dietary supplements, an example of which is the flavors and unique packaging. The major players are focusing on introducing new products in the market to cater to the interests of the consumers.

Major Players

  1. Boehringer Ingelheim International GmbH
  2. Herbalife Nutrition Ltd.
  3. Sanofi
  4. Medcell
  5. Bayer SA

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

    1. 3.1 Market Overview

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Application

      1. 5.1.1 Adult

      2. 5.1.2 Infant

      3. 5.1.3 Children

      4. 5.1.4 Pregnant Woman

      5. 5.1.5 Elderly

    2. 5.2 By Type

      1. 5.2.1 Vitamin

      2. 5.2.2 Mineral

      3. 5.2.3 Botanical

      4. 5.2.4 Enzyme

      5. 5.2.5 Fatty Acid

      6. 5.2.6 Protein

      7. 5.2.7 Others

    3. 5.3 Geography

      1. 5.3.1 South America

        1. 5.3.1.1 Brazil

        2. 5.3.1.2 Argentina

        3. 5.3.1.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Bayer SA

      2. 6.3.2 Herbalife Nutrition Ltd.

      3. 6.3.3 Sanofi

      4. 6.3.4 Medcell

      5. 6.3.5 Boehringer Ingelheim International GmbH

      6. 6.3.6 Procter & Gamble

      7. 6.3.7 Abbott

      8. 6.3.8 Pfizer Inc.

    4. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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