Market Size of South America Botanical Supplements Industry
| 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 |
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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 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 Size Summary
The South America botanical supplements market is experiencing significant growth, driven by increasing health consciousness and a shift towards preventive healthcare. Consumers are increasingly turning to herbal supplements to address nutrition deficiencies and support overall well-being. The market is characterized by a diverse range of products, including fish oils, detox drinks, and probiotic beverages, which are gaining popularity for their health benefits and ability to enhance the flavor of meals and snacks. The COVID-19 pandemic has further amplified the demand for these supplements as individuals seek to bolster their immune systems. The rising prevalence of lifestyle disorders such as diabetes, hypertension, and obesity is also contributing to the market's expansion, as consumers prioritize health and wellness products to manage these conditions.
Brazil stands out as the leading market within the region, supported by a large and youthful population, a growing middle class, and increased disposable income. The popularity of alternative medicine and the emphasis on fitness and sports are driving the demand for protein and amino acid-based supplements, particularly among athletes and fitness enthusiasts. The market is competitive, with major global and regional brands like Amway Corporation, Herbalife Nutrition Limited, and GNC Holdings Inc. actively expanding their presence through innovative product offerings and strategic partnerships. These companies are focusing on developing new formulations and enhancing their online distribution channels to capture a larger share of the market.
South America Botanical Supplements Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Form
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2.1.1 Powdered
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2.1.2 Capsules
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2.1.3 Tablets
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2.1.4 Other Forms
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2.2 By Distribution Channel
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2.2.1 Supermarket/Hypermarket
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2.2.2 Pharmacies/Drug Stores
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2.2.3 Online Stores
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2.2.4 Other Distribution Channels
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2.3 By Geography
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2.3.1 Argentina
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2.3.2 Brazil
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2.3.3 Rest of South America
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South America Botanical Supplements Market Size 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.
