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Latin America Nutraceutical Ingredients Market By Type (Pre And Probiotic, Protein, Mineral, Vitamin, Carotenoid, Fiber, And Phytochemical), Application (Food, Dietary Supplement, And Animal Nutrition), Form (Dry Form, Liquid Form), Health Benefit (Gut Health, Heart Health, Bone Health, Immunity, Nutrition, Weight Management) And Region - Industry Analysis, Size, Share, Growth, Trends And Forecasts 2022 to 2027

Published: March, 2023
ID: 4927
Pages: 140
Formats: report pdf report excel report power bi report ppt

Latin America Nutraceutical Ingredients Market Size Analysis 2022 - 2027:

Latin America Nutraceutical Ingredients Market size is anticipated to grow at 8.86% CAGR from 2022 - 2027 and it is estimated that the Latin America Nutraceutical Ingredients market was valued at USD 5.4 billion in 2019 and is expected to reach USD 8.43 billion by 2026.

Nutraceutical ingredients are substances that help add nutritional value to the diet. They are used in various end-use industries such as food and beverage, pharmaceuticals, personal care, and animal feed. They are very effective in preventing chronic diseases, which can arise due to a deficiency of nutrients in the body. These ingredients are found in various forms ranging from natural substances and chemical compounds to bioactive substances. However, its goal of promoting health and wellness and preventing disease remains the same in all its forms. 

Nutraceuticals are defined as the type of food or drink which, through the addition of certain active ingredients, can provide health benefits in addition to the basic nutritional values other foods offer. In addition to reducing the risk of chronic diseases, it also provides health benefits that could be physiological or mental, promoting growth, and enhancing the performance of the body and mind.

Recent Developments in Nutraceutical Ingredients Market:

  1. In March 2020, Kerry Group funded around $ 125 million to expand its Rome, Georgia plant. Construction of the expanded facility will begin immediately and the project is expected to be completed in early 2021. The expansion would double the production capacity of the existing site and help the company meet growing consumer demand in the poultry and seafood markets.
  2. In March 2020, Tate & Lyle, a leading food and beverage ingredients provider of the world, announced the expansion of its tapioca-based starch line. The expansion includes the launch of the new REZISTA® MAX thickening starches and BRIOGEL® gelling starches. These innovative tapioca starches will help food manufacturers deliver higher quality products due to their better process tolerance, mouthfeel, fluidity, and texture.
  3. In April 2020, Chr. Hansen Holding A / S and HSO Health Care GmbH signed a deal under which Chr. Hansen will procure the assets of HSO Health Care. This acquisition is part of the strategy to seek complementary acquisitions that fit the microbial platform, as discussed in Nature's No. 1 strategy. The transaction will be finalized at the end of this week.
  4. In January 2020, Archer Daniels Midland (ADM) has made the purchase of Yerbalatina Phytoactives, a natural herbal extracts and ingredients manufacturer based in Brazil. Yerbalatina uses patented cold-drying technology to transform fruits, vegetables, and other plants, such as acerola, acai, guarana, and green coffee, into a wide variety of extracts and ingredients for customers in the food and beverage industries and medical care.
  5. In August 2019, Ingredion Incorporated made an investment of over $ 140 million to expand its presence in the vegetable protein sector. This investment promoted production and expanded its portfolio of products like isolates, legume flours, and concentrates.

Latin America Nutraceutical Ingredients Market Growth Drivers:

The Latin American nutraceutical ingredients market is driven by the increased demand for nutraceutical ingredients due to the increasing awareness among consumers regarding healthy diets including nutraceutical ingredients. An increase in the incidences of chronic diseases and a rise in the geriatric population is the key factor boosting the demand for the nutraceutical ingredient. There has been a significant increase in the usage of nutraceutical ingredients in pharmaceutical drugs because its properties such as anti-aging also aid the growth of the market. However, the high cost involved in R&D activities is restraining the growth of the market. Furthermore, growing consumption of nutraceutical ingredients is hindered by the rising trend toward natural products (plant- or animal-based concentrates rich in certain ingredients) rather than industrially manufactured food and beverages or dietary supplements.

Latin America Nutraceutical Ingredients Market growth is driven by factors such as demand for fortified foods due to increased health awareness among consumers. The increasing incidence of chronic diseases around the world and the mandates of government organizations for food fortification in the industry. Different producers of nutraceutical ingredients are increasingly adopting personalized sanitary innovations to formulate better-tailored end products tailored to customers. Increasingly, consumer products companies collect data to enable a proper analysis of shopping habits and lifestyles and to offer customers personalized options based on their purchasing trends. Many clients, more than a particular health problem, are concerned about the general health conditions that result from nutritional insufficiency. At least 6 out of 10 consumers felt they would have enough to meet their needs for almost all the nutrients or components of the foods studied. Omega-3 fatty acids are the exception, with only 50% of customers feeling that they have enough omega-3s to meet their needs.

Latin America Nutraceutical Ingredients Market Segmentation Analysis:

The Latin America Nutraceutical Ingredients market is segmented on the basis of Type, Health benefits, Form, and Application. On the basis of Type, it is segmented into Pre and Probiotic, Protein, Mineral, Vitamin, Carotenoid, Fiber, and Phytochemical. The fibers and specialty carbohydrates dominated this Nutraceutical Ingredients market segment due to the increase in the concerns over obesity and gastrointestinal disorders and rise in the consumption of food and beverage products with a high level of nutritional benefits and fibers such as breakfast cereals, fortified juices, and bread. On the basis of Health Benefit, it is segmented into Gut Health, Heart Health, Bone Health, Immunity, Nutrition, Weight Management.

On the basis of form, it is segmented into Dry and Liquid. Nutraceutical ingredients in dry form accounted for the largest share in this segment of the market. The process of formulating dry ingredients is relatively easier, especially while manufacturing high volumes. In addition, dry form helps in preserving the flavor and color of the food products and also provides benefits in terms of easy handling and storage, which is difficult with liquid ingredients.

On the basis of Application, it is segmented into Food, Dietary Supplement, and Animal Nutrition. The dietary supplements segment is estimated to be the largest market for this segment of nutraceutical ingredients. An increase in the demand for sports and nutritional products and rising protein intake by athletes and fitness enthusiasts have boosted the market growth.

Impact of COVID-19 on Latin America Nutraceutical Ingredients Market:

Although Coronavirus had its worst impact on the F&B sector, it is touted to act positively for the nutraceutical ingredients market. The increasing emphasis on improving immunity and disease resistance among consumers is supposed to boost sales of dietary supplements, which will promote the nutraceutical ingredients business in Latin America and the whole world going ahead.

Regional Insights:

The Latin America Nutraceutical Ingredients Market has been divided based on geography into Mexico, Brazil, Peru, Chile, and the rest of the locale. Latin America is one of the key emerging regions that is estimated to offer significant opportunities in the Nutraceutical Ingredients Market over the outlook period due to the growing awareness of healthy eating, which includes vitamins, proteins, minerals, fiber, and others, among consumers in this area.

Leading Company:

De Pont De Nemours & Company had the largest share of the Latin America Nutraceutical Ingredients Market in terms of sales and revenue in 2020.

Some of the Major Players Covered in the Europe Nutraceutical Ingredients Market:

The market is dominated by companies like Cargill, E. I. du Pont de Nemours and Company, BASF SE, Archer Daniels Midland Company, Associated British Foods plc, Koninklijke DSM N.V., Ingredion Incorporated, Ajinomoto Co. Inc., Arla Foods, and Tate & Lyle PLC.

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