South America Vitamin Fortified and Mineral Enriched Food & Beverage Market Size (2024 - 2029)

The South America Vitamin Fortified and Mineral Enriched Food and Beverage Market is experiencing growth driven by the increasing focus on food fortification as a strategy to address rising obesity rates in the region. This market expansion is facilitated by the food industry's ability to implement fortification without requiring changes in consumer diets, thereby reaching a broad audience through retail channels. As health consciousness rises, there is a notable increase in expenditure on health-related goods and services, contributing to the market's growth trajectory.

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Market Size of South America Vitamin Fortified and Mineral Enriched Food & Beverage Industry

south america vitamin fortified and mineral enriched food and beverage market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.10 %
Market Concentration Low

Major Players

South America Vitamin Fortified and Mineral Enriched Food & Beverage Market Major Players

*Disclaimer: Major Players sorted in no particular order

South America Vitamin Fortified & Mineral Enriched Food & Beverage Market Analysis

South America Vitamin Fortified and Mineral Enriched Food and Beverage Market is projected to grow at a CAGR of 7.1% during the forecast period (2020-2025).

  • Fortification is the process of adding a nutrient or ingredient that was not found naturally in that product. In Brazil and other South American regions, obesity rates have increased over time. Therefore, to improve the health condition of the people, significant progress in food fortification has been targeted and achieved.
  • Food fortification is attractive because it does not require the target groups to change their diet but can be implemented by the food industry, and because it reaches large numbers of consumers through retail. Expenditure on health goods and services is expected to grow significantly and simultaneously, as consumers in this group take more care of their physical condition.

South America Vitamin Fortified & Mineral Enriched Food & Beverage Industry Segmentation

South America's vitamin fortified and mineral enriched food and beverage market is segmented by product type, distribution channel, and geography. On the basis of product type, the market is segmented into cereal-based products, dairy products, beverages, infant formulas, others. Based on the distribution channels, the market is segmented into supermarket/hypermarket, convenience stores, pharmacy/drug stores, online retail stores, and others. The study also involves the analysis of regions such as Brazil, Argentina, and the rest of South America. 

By Product Type
Cereal-Based Products
Dairy Products
Beverages
Infant Formulas
Others
By Distribution Channel
Supermarket/Hypermarket
Convenience Stores
Pharmacy/Drug Store
Online Retail Store
Others
Geography
Europe
Brazil
Argentina
Rest of South America
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South America Vitamin Fortified and Mineral Enriched Food & Beverage Market Size Summary

The South America vitamin fortified and mineral enriched food and beverage market is experiencing significant growth, driven by increasing health awareness and changing consumer preferences. The process of fortification, which involves adding nutrients to food products, is gaining traction as it allows consumers to improve their health without altering their diets. This trend is particularly evident in Brazil, where rising obesity rates have prompted a shift towards healthier food options. The market is further bolstered by the growing understanding of the link between diet and health among South American consumers, alongside the increasing purchasing power of the middle class. This has led to a heightened demand for functional drinks and packaged foods that offer health and wellness benefits, even in the face of economic challenges in countries like Argentina.

The market landscape is characterized by a fragmented and competitive environment, with numerous players vying for market share. Companies are focusing on innovative product launches that emphasize healthier and organic ingredients, while also engaging in strategic activities such as mergers, acquisitions, and partnerships to expand their reach. The convenience of supermarket and hypermarket purchases is also contributing to market growth, as these retail channels offer a wide range of products in one location, making it easier for consumers to access fortified foods and beverages. Promotional activities, discount deals, and attractive product presentations are being employed by retailers to boost sales, further supporting the market's expansion. Major industry players, including Abbott, Kellogg Company, PepsiCo, and Kraft Heinz, are actively participating in this dynamic market, leveraging various strategies to enhance their presence and capture a larger share of the market.

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South America Vitamin Fortified and Mineral Enriched Food & Beverage Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product Type

      1. 2.1.1 Cereal-Based Products

      2. 2.1.2 Dairy Products

      3. 2.1.3 Beverages

      4. 2.1.4 Infant Formulas

      5. 2.1.5 Others

    2. 2.2 By Distribution Channel

      1. 2.2.1 Supermarket/Hypermarket

      2. 2.2.2 Convenience Stores

      3. 2.2.3 Pharmacy/Drug Store

      4. 2.2.4 Online Retail Store

      5. 2.2.5 Others

    3. 2.3 Geography

      1. 2.3.1 Europe

        1. 2.3.1.1 Brazil

        2. 2.3.1.2 Argentina

        3. 2.3.1.3 Rest of South America

South America Vitamin Fortified and Mineral Enriched Food & Beverage Market Size FAQs

The South America Vitamin Fortified and Mineral Enriched Food & Beverage Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)

Abbott Laboratories, Kellogg Company, PepsiCo, Kraft Heinz Company and The Coca-Cola Company are the major companies operating in the South America Vitamin Fortified and Mineral Enriched Food & Beverage Market.

South America Vitamin Fortified and Mineral Enriched Food & Beverage Report Snapshots

South America Vitamin Fortified and Mineral Enriched Food & Beverage Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)