Latin America Functional Foods Market Size & Outlook
Latin America functional foods market, 2017-2030 (US$M)
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Latin America functional foods market highlights
- The Latin America functional foods market generated a revenue of USD 16,120.2 million in 2023.
- The market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, prebiotics & probiotics was the largest revenue generating ingredient in 2023.
- Vitamins is the most lucrative ingredient segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 16,120.2 million |
| Market revenue in 2030 | USD 25,787.0 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | Prebiotics & probiotics |
| Fastest growing segment | Vitamins |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carotenoids, Dietary Fibers, Fatty Acids, Minerals, Prebiotics & Probiotics, Vitamins |
| Key market players worldwide | Coca-Cola Co, Arla Foods, Amway Malaysia Holdings, Herbalife Ltd, Cargill, General Mills Inc, Basf SE |
Other key industry trends
- In terms of revenue, Latin America region accounted for 4.9% of the global functional foods 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 221,651.4 million by 2030.
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Functional Foods Market Scope
Functional Foods Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America functional foods 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 functional foods market will help companies and investors design strategic landscapes.
Prebiotics & probiotics was the largest segment with a revenue share of 33.31% in 2023. Horizon Databook has segmented the Latin America functional foods market based on carotenoids, dietary fibers, fatty acids, minerals, prebiotics & probiotics, vitamins covering the revenue growth of each sub-segment from 2017 to 2030.
The demand for functional foods within the developing CSA countries is growing at a rapid pace, presenting lucrative opportunities to develop domestic companies. The economic returns from functional foods can offer improved opportunities for all members in the supply chain, while the industry may be an opportunity for economic growth for many developing countries endowed with rich biodiversity & traditional knowledge of the health effects of certain indigenous plant species.
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Target buyers of Latin America functional foods market databook
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Our clientele includes a mix of functional foods market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America functional foods market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America functional foods market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America functional foods market size, by country, 2017-2030 (US$M)
Latin America Functional Foods Market Outlook Share, 2023 & 2030 (US$M)
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