Nutraceuticals Product Market in Latin America to be Driven by Rapid Economic Development in Brazil
Growing health consciousness among people in Latin America has created an environment perfectly suitable for the Latin America nutraceuticals product market to thrive. Transparency Market Research, a leading U.S.-based market intelligence firm, recently published a report titled “Nutraceuticals Product Market: Latin America Market Size, Segment And Country Analysis And Forecasts (2007-2017)”. This is a 77-page report that analyzes the market dynamics for nutraceuticals product in Latin America.
According to the findings of the report, the market for nutraceuticals in Latin America is poised to register a positive 4.2% CAGR between 2007 and 2017. The market was valued at US$6.6 billion in 2007 and the market is expected to reach US$7.8 billion by 2017. This is a comprehensive publication focusing on the market dynamics. It discusses in detail various parameters of growth, market hindrances, and opportunities for the market players to capitalize on. Analysts have observed and evaluated every aspect impacting the growth trajectory of the market minutely to provide refined forecasts. Growth of the Latin America nutraceuticals market is stirred by multiple factors. The report identifies the rising cost of healthcare, a boost in the number of entrepreneurs foraying into the nutraceuticals industry, growing health consciousness among consumers, and introduction of different effective products to be the major causes driving the market. High demand for vitamin and protein dietary supplements is also expected to boost the market.
To provide a detailed executive-level overview of the market, the report has sourced information from present and past financial records of key vendors, present market trend analysis, historical data and statistics, and insights from experienced industry experts. On the basis of information, the analysts have compiled the report comprehensively. The report identifies Argentina, Chile, Brazil, Columbia, Venezuela, and Peru as the most important markets for nutraceuticals in Latin America. Among these geographical segments, Brazil holds a significant position. The market for nutraceuticals in Brazil will account for 24.4% of the overall market by 2017. Increasing disposable income of the local population would majorly impact the demand for nutraceuticals in Brazil.
Dominance of regional powers is very apparent in Latin America. Mexico and Brazil, for instance, have clearly exhibited rapid economic development in the last few years. Robust growth of economies across Latin America has led to high demand for health and fitness products, which is in turn reflected in the high demand for nutraceuticals from Latin America.
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In order to present a detailed analysis of the market encompassing its every aspect, the report segments the market into functional food, functional beverages, and dietary supplements on the basis of product types. The market for dietary supplements is considered to have benefitted the overall demand generated by nutraceuticals companies in Latin America to a great extent. This segment is further sub-divided into proteins and peptides, herbals, vitamin and mineral, non-herbals, and others.