Market Size of South America Digestive Health Supplements Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.20 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Digestive Health Supplements Market Analysis
The South American Digestive Health Supplements Market is projected to register a CAGR of 7.2% during the forecast period.
The ongoing increase in lifestyle diseases, such as obesity, high cholesterol, gastro intestine problems, and diabetes, due to sedentary lifestyles is driving the growth of the South American digestive health supplements market. Additionally, consumers are open to spending on preventive healthcare products and improved medical services due to the rise in disposable income. Consumer spending is further fueled by the increase in awareness about digestive health, innovations in digestive health supplements, and the availability of products across key distribution channels.
Furthermore, the health claims provided by the manufacturers of digestive health supplements are anticipated to accelerate the demand for digestive health supplements during the forecast period. Manufacturers are restricted from using health claims or labels unless approved by their respective country's government regulatory bodies. For instance, in Brazil, all the products subject to health surveillance, such as medicines, supplements, and food, are approved and controlled by the ANVISA, an autonomous regulatory body of the Brazilian government. Thus, the health claims regulated by stringent government regulations boost the confidence of consumers in digestive supplements, thereby escalating the demand in the market studied.
