South America Nutraceuticals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The South American Nutraceuticals Market is segmented by Type into Functional Food, Functional Beverages, and Dietary Supplements, by Distribution Channel into Specialty Stores, Supermarkets/Hypermarkets, Convenience Stores, and Online Retail Stores, and by Geography

Market Snapshot

South America Nutraceutical Market Summary
Study Period: 2016 - 2026
Base Year: 2020
CAGR: 8.1 %

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Market Overview

The South American nutraceuticals market is projected to register a CAGR of 8.1%, during the forecast period, 2020 - 2025.

  • The rising demand for nutraceuticals with medical benefits is one of the major factors driving the nutraceuticals market growth. They contain antioxidants, probiotics, and polyunsaturated fatty acids, which help in managing health issues, like obesity, CVD, cancer, cholesterol, arthritis, and diabetes. In addition, the growing preference for personalized nutrition is another key nutraceuticals market trends, which may further stimulate market growth. The trend of personalized nutrition is growing, particularly among individuals with gut-related medical conditions, where generic treatment is not effective.
  • However, the biggest issue faced by nutraceutical companies operating in the South American countries is complying with the stringent health country's regulations. Unlike the many countries throughout the world, these countries have very stringent regulations governing the sale of dietary supplements.

Scope of the report

The South American nutraceutical market is segmented by type into functional food, functional beverages, and dietary supplements, where functional food segment is further sub-segmented into cereals, bakery and confectionary, dairy, snacks, and other functional foods; functional beverages into energy drinks, sports drinks, fortified juice, dairy and dairy alternative beverages, and other functional beverages; and dietary supplements into vitamins, minerals, botanicals, enzymes, fatty acids, proteins, and other dietary supplements. By distribution channel, the market is segmented into specialty stores, supermarkets/hypermarkets, convenience stores, and online retail stores. Also, the study provides an analysis of the nutraceuticals market in the emerging and established markets across the South American countries, including Brazil, Argentina, and Rest of South America.

Functional Food
Bakery and Confectionery
Other Functional Foods
Functional Beverages
Energy Drinks
Sports Drinks
Fortified Juice
Dairy and Dairy Alternative Beverages
Other Functional Beverages
Dietary Supplements
Fatty Acids
Other Dietary Supplements
Distribution Channel
Specialty Stores
Convenience Stores
Drug Stores/Pharmacies
Online Retail Stores
Other Distribution Channels
Rest of South America

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Key Market Trends

Rising Demand for Functional Snacks in the Region

There is a rising demand for functional food items, especially the functional snacks segment, that are aligned to a specific health positioning. They offer added value to consumers, as compared to regular food products. Portable snacks and nutrition bars made with simple, clean-label ingredients that deliver functionality are popular among South American consumers. Consumers demand affordability, healthy choices, and good taste when it comes to snacks. Protein from vegetable sources, such as soy, lentil, pea, and beans, is taking the center stage in snack and bar manufacturing. Also, the demand for ancient grains is trending, as consumers perceive them to be more nutritious and flavorful, with unique texture. Taste, convenience, variety, price, energy, and performance remain the most significant purchasing criteria for functional snacks.

South America Nutraceutical Market1

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Increasing Demand among Baby Boomers, Millennials, and Women

The three important consumer demographic segments that are driving the nutraceutical market are – millennials, baby boomers, and women. Millennials are concerned about optimizing their present health and preventing deteriorating health in the future. They consume food products, typically fortified with calcium, fiber, vitamins, and minerals, and are also responsible to drive the trend for a more regular and healthier snacking. Baby Boomers require products that help prevent or mitigate conditions related to aging. They prefer nutraceutical products usually rich in fiber, antioxidants, heart-healthy ingredients, vitamins and minerals, omega-3 fatty acids, vitamin D, calcium, and whole grains. Women drive the supplement and functional food in their diet segments, due to recommendations from health practitioners. Sales of women’s nutraceutical products account for a significant share of the demographic sector. Also, advertising for female-targeted vitamins and supplement products is usually focused on fitness and lifestyle.

South America Nutraceutical Market2

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Competitive Landscape

The South American nutraceuticals market is competitive in nature, having a large number of domestic and multinational players competing for market shares. Emphasis is given on the mergers, expansions, acquisitions, and partnerships of the companies, along with new product development as a strategic approach adopted by the leading companies to boost their brand presence among consumers. Key players dominating the South American region include Red Bull GmbH, PepsiCo Inc., General Mills Inc., Nestle SA, The Kellogg Company, and Herbalife International of America Inc.

Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Bargaining Power of Suppliers

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Threat of New Entrants

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 Type

      1. 5.1.1 Functional Food

        1. Cereals

        2. Bakery and Confectionery

        3. Dairy

        4. Snacks

        5. Other Functional Foods

      2. 5.1.2 Functional Beverages

        1. Energy Drinks

        2. Sports Drinks

        3. Fortified Juice

        4. Dairy and Dairy Alternative Beverages

        5. Other Functional Beverages

      3. 5.1.3 Dietary Supplements

        1. Vitamins

        2. Minerals

        3. Botanicals

        4. Enzymes

        5. Fatty Acids

        6. Proteins

        7. Other Dietary Supplements

    2. 5.2 Distribution Channel

      1. 5.2.1 Specialty Stores

      2. 5.2.2 Supermarkets/Hypermarkets

      3. 5.2.3 Convenience Stores

      4. 5.2.4 Drug Stores/Pharmacies

      5. 5.2.5 Online Retail Stores

      6. 5.2.6 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 Brazil

      2. 5.3.2 Argentina

      3. 5.3.3 Rest of South America


    1. 6.1 Most Adopted Strategies

    2. 6.2 Market Share Analysis

    3. 6.3 Company Profiles

      1. 6.3.1 Red Bull GmbH

      2. 6.3.2 PepsiCo Inc.

      3. 6.3.3 Nestle SA

      4. 6.3.4 General Mills Inc.

      5. 6.3.5 Herbalife International of America Inc.

      6. 6.3.6 Pfizer Inc.

      7. 6.3.7 The Kellogg Company

      8. 6.3.8 Amway Corp.

    4. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The South America Nutraceuticals Market market is studied from 2016 - 2026.

The South America Nutraceuticals Market is growing at a CAGR of 8.1% over the next 5 years.

Red Bull GmbH, PepsiCo Inc., Nestle SA, General Mills Inc., Herbalife International of America Inc. are the major companies operating in South America Nutraceuticals Market.

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