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.
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.
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.
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.
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.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1200
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region