Latin America Dietary Supplements Market Size & Outlook
Latin America dietary supplements market, 2018-2030 (US$M)
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Latin America dietary supplements market highlights
- The Latin America dietary supplements market generated a revenue of USD 10,489.1 million in 2023.
- The market is expected to grow at a CAGR of 9.5% from 2024 to 2030.
- In terms of segment, vitamins was the largest revenue generating ingredient in 2023.
- Protiens & Amino Acids is the most lucrative ingredient segment registering the fastest growth during the forecast period.
- Country-wise, Peru is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 10,489.1 million |
| Market revenue in 2030 | USD 19,756.3 million |
| Growth rate | 9.5% (CAGR from 2023 to 2030) |
| Largest segment | Vitamins |
| Fastest growing segment | Protiens & Amino Acids |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Vitamins, Botanicals, Minerals, Protiens & Amino Acids, Fibers & Specialty Carbohydrates, Omega Fatty Acids |
| Key market players worldwide | Amway Malaysia Holdings, Abbott Laboratories, Bayer AG, Glanbia PLC, Pfizer Inc, Archer-Daniels Midland Co, Nu Skin Enterprises Inc Class A, GlaxoSmithKline, Herbalife Ltd, Natures Sunshine Products Inc, DuPont de Nemours Inc, Nestle SA, NOW Foods, RBK Nutraceuticals, Goodhealth |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.9% of the global dietary supplements market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 148,424.0 million by 2030.
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Dietary Supplements Market Scope
Dietary Supplements Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America dietary supplements market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to dietary supplements market will help companies and investors design strategic landscapes.
Vitamins was the largest segment with a revenue share of 29.95% in 2023. Horizon Databook has segmented the Latin America dietary supplements market based on vitamins, botanicals, minerals, protiens & amino acids, fibers & specialty carbohydrates, omega fatty acids covering the revenue growth of each sub-segment from 2018 to 2030.
Young and adult consumers are more receptive to health and wellness trends, which will likely drive the sales of dietary supplement products. The increasing number of consumers following a healthy lifestyle, coupled with untapped opportunities in Latin America, is expected to drive the market growth over the forecast period.
However, stringent regulations for health claims and low return on investment (ROI) for new delivery forms may pose hurdles for further expansion. Furthermore, high prices of proteins & amino acids, fibers & specialty carbohydrates, and omega fatty acid-based supplements and market cannibalization could hinder the growth of the dietary supplements market in the region over the forecast period.
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Our clientele includes a mix of dietary supplements market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America dietary supplements market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America dietary supplements market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America dietary supplements market size, by country, 2018-2030 (US$M)
Latin America Dietary Supplements Market Outlook Share, 2023 & 2030 (US$M)
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