Market Trends of South America Nutraceuticals Industry
This section covers the major market trends shaping the South America Nutraceutical Market according to our research experts:
Rising Demand for Functional Snacks in the Region
There is a rising demand for functional food items, especially the functional snacks segment, that are aligned to a specific health positioning. They offer added value to consumers, as compared to regular food products. Portable snacks and nutrition bars made with simple, clean-label ingredients that deliver functionality are popular among South American consumers. Consumers demand affordability, healthy choices, and good taste when it comes to snacks. Protein from vegetable sources, such as soy, lentil, pea, and beans, is taking the center stage in snack and bar manufacturing. Also, the demand for ancient grains is trending, as consumers perceive them to be more nutritious and flavorful, with unique texture. Taste, convenience, variety, price, energy, and performance remain the most significant purchasing criteria for functional snacks.
Increasing Demand among Baby Boomers, Millennials, and Women
The three important consumer demographic segments that are driving the nutraceutical market are - millennials, baby boomers, and women. Millennials are concerned about optimizing their present health and preventing deteriorating health in the future. They consume food products, typically fortified with calcium, fiber, vitamins, and minerals, and are also responsible to drive the trend for a more regular and healthier snacking. Baby Boomers require products that help prevent or mitigate conditions related to aging. They prefer nutraceutical products usually rich in fiber, antioxidants, heart-healthy ingredients, vitamins and minerals, omega-3 fatty acids, vitamin D, calcium, and whole grains. Women drive the supplement and functional food in their diet segments, due to recommendations from health practitioners. Sales of women's nutraceutical products account for a significant share of the demographic sector. Also, advertising for female-targeted vitamins and supplement products is usually focused on fitness and lifestyle.
