South America Dietary Supplement Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South America Dietary Supplement Market Analysis
South America Dietary Supplement market is projected to grow at a CAGR of 7.7% during the forecast period (2020 - 2025).
- The dietary supplements market is preliminarily driven by the paradigm shift towards preventive health management practices amid rising healthcare costs and the increasing burden of lifestyle diseases.
- Consumers in South America have a greater understanding of the relationship between diet and health, which is fueling the growth in the industry. Besides, the increased purchasing power of the middle class in recent years is triggering market growth.
- The consumers in South America are more influenced by strong advertising and promotional initiatives conducted by the companies, as well as the retail distributors.
South America Dietary Supplement Market Trends
This section covers the major market trends shaping the South America Dietary Supplement Market according to our research experts:
Increased Demand of Vitamin Supplements
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.
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.
South America Dietary Supplement Industry Overview
The South American dietary supplement market is highly fragmented and the major companies are Herbalife Nutrition Ltd., Medcell, Bayer AG, Amway, and Sanofi among others. Consumers prefer innovation in dietary supplements, an example of which is the flavors and unique packaging. The major players are focusing on introducing new product development, expansion, mergers and expansion and partnerships to cater to the interests of the consumers.
South America Dietary Supplement Market Leaders
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Herbalife Nutrition Ltd.
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Medcell
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Bayer AG
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Amway
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Sanofi S.A.
*Disclaimer: Major Players sorted in no particular order
South America Dietary Supplement Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & 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
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4.3 Porter's Five Forces 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
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5.1 By Type
- 5.1.1 Vitamins and Minerals
- 5.1.2 Amino Acids and Proteins
- 5.1.3 Fatty Acids
- 5.1.4 Probiotics
- 5.1.5 Others
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5.2 By Distribution Channel
- 5.2.1 Pharmacies and Drug Stores
- 5.2.2 Supermarket/Hypermarket
- 5.2.3 Online Channels
- 5.2.4 Others
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5.3 Geography
- 5.3.1 South America
- 5.3.1.1 Brazil
- 5.3.1.2 Argentina
- 5.3.1.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Most Active Companies
- 6.2 Most Adopted Strategies
- 6.3 Market Share Analysis
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6.4 Company Profiles
- 6.4.1 Amway
- 6.4.2 Bayer AG
- 6.4.3 Glanbia PLC
- 6.4.4 Abbott Laboratories
- 6.4.5 Procter & Gamble.
- 6.4.6 Herbalife Nutrition Ltd.
- 6.4.7 Medcell
- 6.4.8 Sanofi S.A.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySouth America Dietary Supplement Industry Segmentation
The South America dietary supplements market is segmented by type that includes vitamins and minerals, proteins and amino acids, fatty acids, probiotics, and others. Based on the distribution channel, the market is divided into pharmacies and drug stores, supermarket/hypermarket, online channels, and others. The study also involves the analysis of regions such as Brazil, Argentina and Rest of South America.
| By Type | Vitamins and Minerals | |
| Amino Acids and Proteins | ||
| Fatty Acids | ||
| Probiotics | ||
| Others | ||
| By Distribution Channel | Pharmacies and Drug Stores | |
| Supermarket/Hypermarket | ||
| Online Channels | ||
| Others | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
South America Dietary Supplement Market Research FAQs
What is the current South America Dietary Supplement Market size?
The South America Dietary Supplement Market is projected to register a CAGR of 7.70% during the forecast period (2024-2029)
Who are the key players in South America Dietary Supplement Market?
Herbalife Nutrition Ltd., Medcell, Bayer AG, Amway and Sanofi S.A. are the major companies operating in the South America Dietary Supplement Market.
What years does this South America Dietary Supplement Market cover?
The report covers the South America Dietary Supplement Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the South America Dietary Supplement Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South America Dietary Supplement Industry Report
Statistics for the 2024 South America Dietary Supplement market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Dietary Supplement analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
