Latin America Herbal Supplements Market Share, Size, Growth, Opportunity and Forecast 2021-2026

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Latin America Herbal Supplements Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The Latin America herbal supplements market grew at a CAGR of 7% during 2015-2020. Herbal supplements refer to plant-based dietary additives that are primarily extracted from natural raw materials, such as moringa, turmeric, ginger, echinacea, flaxseed, saw palmetto, chamomile, etc. These supplements offer numerous therapeutic benefits based on the high content of minerals, enzymes, amino acids, and vitamins, which are essential for the human body. Herbal supplements commonly act as antiseptics, antibiotics, anti-depressants, and anti-inflammatory agents. These supplements are widely available in the form of tablets, capsules, liquid, powder, granules, and soft gels.

In Latin America, the growing consumer consciousness towards maintaining good health and wellbeing is currently driving the market for herbal supplements. Additionally, the high prevalence of numerous lifestyle ailments, such as obesity, diabetes, cardiovascular disorders, gastrointestinal diseases, etc., is also propelling the product demand. Furthermore, the changing consumer inclination from chemical-based drugs towards naturally-sourced alternatives with minimal side effects and long-term disease prevention is further catalyzing the market growth in Latin America. Additionally, the rising expenditures on preventive healthcare products are further augmenting the market growth. furthermore, the emergence of naturopathy coupled with the rising demand for organic and vegan product variants will continue to catalyze the market for herbal supplements in Latin America over the forecasted period. Looking forward, IMARC Group expects the Latin America herbal supplements market to exhibit continuous growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Latin America herbal supplements market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type, formulation and consumer.

Breakup by Product Type:

Moringa
Echinacea
Flaxseeds
Turmeric
Ginger
Ginseng
Others

Breakup by Formulation:

Tablets
Capsules
Liquid
Powder and Granules
Soft Gels
Others

Breakup by Consumer:

Pregnant Women
Adult
Pediatric
Geriatric

Breakup by Country:

Brazil
Mexico
Argentina
Columbia
Chile
Peru
Others

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Amway International Inc., GNC Holdings Inc (Harbin Pharmaceutical Group Co. Ltd.), Herbalife International of America Inc., Jarrow Formulas Inc, Natulab Laboratório S/A, Now Health Group Inc., Nutraceutical International Corporation, Sanofi SA, The Clorox Company and The Nature's Bounty Co.

Key Questions Answered in This Report:

How has the Latin America herbal supplements market performed so far and how will it perform in the coming years?
What are the key regional markets?
What is the impact of COVID-19 on Latin America herbal supplements market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the formulation?
What is the breakup of the market based on the consumer?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the market?
What is the structure of the Latin America herbal supplements market and who are the key players?
What is the degree of competition in the market?