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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.
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.
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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.
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