Nutraceuticals Product Market in Latin America is Poised to Register a Positive 4.2% CAGR between 2007 & 2017

The Latin America nutraceutical products market is likely to grow smoothly in the coming years due to the conducive environment created by the rising health awareness among the region’s population. According to Transparency Market Research, the Latin America nutraceuticals market is expected to exhibit a steady 4.20% CAGR from 2007 to 2017, with the market’s valuation is expected to rise to US$7.8 bn by the end of 2017.

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Rising Demand for Protein and Vitamin Supplements to Ensure Dominance of Dietary Supplements Segment

By product type, the Latin America market for nutraceutical products is segmented into functional food, functional beverages, and dietary supplements. Of these, dietary supplements are the leading contributor to the Latin America nutraceuticals market and are likely to retain the dominant position till the end of 2017. Within dietary supplements, proteins and peptides are the key revenue generator for the Latin America nutraceuticals industry, followed by vitamins and minerals, herbals, and non-herbals. Apart from dietary supplements, the functional beverages segment is also likely to exhibit rapid growth over the forecast period due to the convenience of adding nutritional compounds to beverages.

Geographically, Brazil is likely to be the leading contributor to the Latin America nutraceuticals market, and is expected to hold a share of 24.4% in the Latin America market by the end of 2017. “The steady rise of the urban middle class in Brazil is crucial for the Latin America nutraceuticals market, as it is an informed demographic with sufficient purchasing power to make an impact on the overall market,” said TMR’s lead analyst. The rapid urbanization in other countries such as Argentina, Chile, Colombia, and Venezuela is also likely to be a key driver for the Latin America nutraceuticals market in the coming years.

Rising Costs of Healthcare to Drive Demand for Nutraceuticals

The rising cost of healthcare in Latin America is leading to many consumers trying to adopt a healthier lifestyle to avoid diseases in the first place. This has been a crucial driver for the Latin America nutraceuticals market, as state-sponsored healthcare avenues are still lacking in resources in many parts of the region and many consumers still can’t afford private healthcare.

The vast potential of the region’s developing countries has also resulted in several players trying to establish a firm operations base in Latin America, which is likely to benefit the regional nutraceuticals market significantly in the coming years.

Product Innovation, Smart Use of Online Platforms Emerge as Key Growth Strategies

Consistent product innovation to make nutraceuticals safer and more effective is one of the key strategies for players in the Latin America nutraceuticals market to pursue in the coming years. Due to the relatively recent entry of the nutraceuticals industry in Latin America, raising awareness about their efficacy and easy availability is another tactic that’s likely to help players in the Latin America nutraceutical products market.

The rising consumer base of social media platforms and online retail websites is another promising opportunity for leading players in the Latin America nutraceuticals market. Smart use of social media for raising awareness about nutraceuticals and widespread use of online retail websites to exploit the expanding penetration of the Internet in Latin America have thus emerged as a key strategy for key players in the Latin America nutraceuticals market.

The information in this preview comes from a Transparency Market Research report titled ‘Nutraceuticals Product Market: Latin America Market Size, Segment And Country Analysis And Forecasts 2007-2017.’

The Latin America nutraceuticals market is segmented as follows:

Latin America nutraceuticals market, by product type:

• Functional food
• Functional beverages
• Dietary supplements

Latin America nutraceuticals market, by geography:

• Brazil
• Argentina
• Chile
• Peru
• Colombia
• Venezuela

Nutraceuticals Product Market in Latin America to be Driven by Rapid Economic Development in Brazil

Growing health consciousness among people in Latin America has created an environment perfectly suitable for the Latin America nutraceuticals product market to thrive. Transparency Market Research, a leading U.S.-based market intelligence firm, recently published a report titled “Nutraceuticals Product Market: Latin America Market Size, Segment And Country Analysis And Forecasts (2007-2017)”. This is a 77-page report that analyzes the market dynamics for nutraceuticals product in Latin America.

According to the findings of the report, the market for nutraceuticals in Latin America is poised to register a positive 4.2% CAGR between 2007 and 2017. The market was valued at US$6.6 billion in 2007 and the market is expected to reach US$7.8 billion by 2017. This is a comprehensive publication focusing on the market dynamics. It discusses in detail various parameters of growth, market hindrances, and opportunities for the market players to capitalize on. Analysts have observed and evaluated every aspect impacting the growth trajectory of the market minutely to provide refined forecasts. Growth of the Latin America nutraceuticals market is stirred by multiple factors. The report identifies the rising cost of healthcare, a boost in the number of entrepreneurs foraying into the nutraceuticals industry, growing health consciousness among consumers, and introduction of different effective products to be the major causes driving the market. High demand for vitamin and protein dietary supplements is also expected to boost the market.

To provide a detailed executive-level overview of the market, the report has sourced information from present and past financial records of key vendors, present market trend analysis, historical data and statistics, and insights from experienced industry experts. On the basis of information, the analysts have compiled the report comprehensively. The report identifies Argentina, Chile, Brazil, Columbia, Venezuela, and Peru as the most important markets for nutraceuticals in Latin America. Among these geographical segments, Brazil holds a significant position. The market for nutraceuticals in Brazil will account for 24.4% of the overall market by 2017. Increasing disposable income of the local population would majorly impact the demand for nutraceuticals in Brazil.

Dominance of regional powers is very apparent in Latin America. Mexico and Brazil, for instance, have clearly exhibited rapid economic development in the last few years. Robust growth of economies across Latin America has led to high demand for health and fitness products, which is in turn reflected in the high demand for nutraceuticals from Latin America.

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In order to present a detailed analysis of the market encompassing its every aspect, the report segments the market into functional food, functional beverages, and dietary supplements on the basis of product types. The market for dietary supplements is considered to have benefitted the overall demand generated by nutraceuticals companies in Latin America to a great extent. This segment is further sub-divided into proteins and peptides, herbals, vitamin and mineral, non-herbals, and others.