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Latin America Herbal Supplements Market By Source (Leaves, Barks, Roots, Fruits & Vegetables), By Application (Pharmaceuticals, Personal Care, Food & Beverages), By Function (Medicinal, Aroma), By Form (Powder, Syrups, Oils, Capsules & Tablets) And By Region - Latin America Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2022 to 2027)

Published: March, 2023
ID: 7076
Pages: 145
Formats: report pdf report excel report power bi report ppt

Latin America Herbal Supplements Market Size, Share, Growth (2022-2027)

Latin America Herbal Supplements Market was worth USD 8 billion in 2021 and is estimated to be growing at a CAGR of 7.2%, reaching USD 11.32 billion by 2027

Latin America Herbal Supplements Market Overview

Herbal Supplements are non-pharmaceutical, non-food substances that are marketed to improve health. Plants have many nutritional as well as medicinal benefits, and they were used in medicinal treatment since time immemorial. The use of herbal remedies is more prevalent in patients with chronic diseases such as cancer, diabetes, asthma, and end-stage renal disease. Herbal remedies are seen by some as a treatment to be preferred to pure medical compounds that have been industrially produced. There are many forms in which herbs can be administered, the most common of which is in the form of a liquid that is drunk by the patient—either an herbal tea or a plant extract.Factors accountable for driving the market are increasing healthcare expenditure as well as increasing awareness regarding diet and healthcare, increasingly sedentary lifestyle, growing mental and health disorders and growing demand for functional food. On the other hand, high cost of raw materials stringent regulations and some side effects caused by herbal supplements are confining the growth of the market.

Latin America Herbal Supplements Market Segmentation

based on

  • Source

  • Application

  • Function 

  • Form

Based on Source 

  • Leaves

  • Barks

  • Roots

  • Fruits & Vegetables

Based on Application 

  • Pharmaceuticals

  • Personal Care,

  • Food & Beverages

Based on Functions 

  • Medicinal

  • Aroma

Based on Form 

  • Powder

  • Syrups

  • Oils

  • Capsules & Tablets

Latin America Herbal Supplements Market Regional Analysis

  • Brazil

  • Argentina

  • Mexico 

Rest of Latin America. Brazil is leading the market. The presence of market leaders as well as increasing individual awareness regarding health have fuelled the dominance of Brazil in the market. Argentina is expected to grow the fastest due to increasing adoption rate as well as increasing consumer awareness regarding the health issues. Capsules and Tablets held the major share in the market in Form segment due to their accessibility and ease of administration. Medicinal herbal supplements hold the major share in the market in terms of functions owing to their efficacy, safety and minimal side effects. Pharmaceutical applications is expected to grow the fastest due to consumers’ reliability in quality and effectiveness of herbal medicines.

Latin America Herbal Supplements Market Keyplayers

  1. Archer Daniels Midland Company

  2. Glanbia plc

  3. Herbalife International of America, Inc.

  4. Blackmores

  5. Nutraceutical International Corporation

  6. NBTY Inc.

  7. Arizona Natural Products

  8. Ricola

  9. NaturaLife Asia Co., Ltd.

  10. Bio-Botanica Inc

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