Argentina dietary supplements market is anticipated
to witness impressive growth during the forecast period. This can be ascribed
to the growing demand for functional food because it gives some health benefits
such as bone healing, cholesterol control, heart health, and other vision
benefits along with the growing demand for nutrition intake as daily routine
for health benefits. Also, the increasing demand for nutrients and fortified food
additives along with the growing demand for functional foods and nutritional
additives such as omega 3 fatty acids, fiber and vitamins, and minerals for
increasing the nutritional value in the processed food is expected to create a
lucrative growth of the Argentina dietary supplements market during the
forecast period. According to Statistics Argentina, as of 2021, 285
food supplement stores are present in the Buenos Aires region of the country,
which caters to the highest count in Argentina.
Growing Aging Population
The aging population in Argentina has a significant
impact on the growth of the dietary supplements market. As people age, their
nutritional needs change, and they may require additional vitamins, minerals,
and other nutrients to maintain their health and prevent disease. This has led
to an increased demand for dietary supplements among older adults in Argentina.
Moreover, older adults in Argentina are more likely to have chronic health
conditions, such as heart disease, diabetes, and osteoporosis. Many of these
conditions can be managed or prevented with proper nutrition and dietary
supplements. This has led to an increased demand for supplements that can
support heart health, bone health, and blood sugar control. Argentina's
elderly population has increased from less than 7% to about 10% of the total
population in the previous 30 years. Furthermore, more than 17% of Buenos Aires
residents are 65 or older. This demographic shift has created a large
and growing market for dietary supplements targeted toward older adults. As a
result, vitamin and mineral supplements, which caters to the nutritional needs
of older adults, holds the largest market share in the Argentina dietary
supplements market.
Growing Concerns about Health
Health consciousness has a significant impact on
the growth of the dietary supplements market in Argentina. Consumers are
becoming more aware of the role that nutrition plays in maintaining optimal
health and preventing disease. This has led to an increased demand for dietary
supplements that can support overall health and well-being. According
to a survey conducted by the National Institute of Statistics and Census
(INDEC) in 2019, about 62% of the population in Argentina reported using
dietary supplements, with women being more likely to use them than men. With
the rise of social media and the availability of information on the internet,
people are increasingly informed about health and nutrition. They are seeking
ways to support their health through diet and lifestyle changes, and many are turning
to dietary supplements to complement their efforts. Furthermore, the growing
prevalence of chronic diseases, such as heart disease, diabetes, and cancer,
has made people more aware of the importance of preventive healthcare. Many
consumers are looking for ways to prevent disease and maintain their health,
and they view dietary supplements to achieve these goals. Consumers are also
seeking supplements made from natural ingredients. The trend toward natural and
organic products in Argentina has led to an increased demand for herbal
supplements, which are perceived to be safer and more effective than synthetic
supplements. Such factors are anticipated to drive the growth of the Argentina
dietary supplements market during the forecast period.
Growing Demand for Natural and Organic Supplements
The trend toward natural and organic products has a
significant impact on the growth of the dietary supplements market in
Argentina. Consumers are increasingly seeking products made from natural and
organic ingredients, including supplements. Some of the most commonly
used natural and organic dietary supplements in Argentina include
multivitamins, omega-3 fatty acids, probiotics, and green tea extracts, which
are perceived to be safer, more effective, and better for the environment. One
of the main reasons for this growth is the perception that natural and organic
supplements are healthier than synthetic supplements. Consumers are concerned
about the potential side effects of synthetic supplements and are seeking safer,
more natural alternatives. The side effects of non-organic dietary
supplements may vary depending on the specific supplement and the individual's
health status, age, and other factors. Non-organic dietary supplements may
contain synthetic ingredients, preservatives, fillers, and other additives that
may not be present in organic supplements (allergic reactions, interactions
with medications, overdose, digestive problems, and adverse effects on organs). The
use of natural and organic ingredients in supplements has been associated with
a range of health benefits, such as improved digestion, better immune function,
and increased energy levels. Additionally, the trend toward natural and organic
supplements has been driven by a growing awareness of the impact of food
production on the environment. Many consumers are seeking products that are
sustainably produced and have a lower environmental impact. As a result, there
is a growing need for organic supplements that are made from organic
ingredients and environment-friendly practices sustainably and sustainably.
Growing Development in Delivery Format
The growing development in delivery formats is an
important factor driving the growth of the dietary supplements market in
Argentina. Consumers are increasingly seeking dietary supplements that are
convenient, easy to use, and provide targeted health benefits. This has led to
the development of new delivery formats that offer these benefits, such as
gummies, chewable tablets, and liquid supplements. One of the key advantages of
these new delivery formats is that they are more convenient and easier to use
than traditional supplements such as capsules or tablets. For example, gummies
are an increasingly popular delivery format for dietary supplements because
they are easy to chew and have a pleasant taste, making them more appealing to
consumers, especially children and older adults.
New delivery formats such as liquid supplements and
drinkable shots provide a faster and more efficient delivery of nutrients to
the body, which is appealing to consumers who are looking for quick and
effective results. These formats may also be more suitable for people who have
difficulty in swallowing pills or capsules. The development of new delivery
formats has also enabled manufacturers to create more specialized and targeted
dietary supplements that address specific health concerns. For example, the
development of more targeted delivery formats such as sublingual tablets or
nasal sprays can better target nutrients to specific parts of the body, which
drives the growth of the Argentina dietary supplements market.
Increasing Disposable Income
Increasing disposable income has a significant
impact on the growth of the dietary supplements market in Argentina. As
consumers have more disposable income, they are more willing to spend money on
products that support their health and well-being, including dietary
supplements. With increased disposable income, consumers are able to purchase
higher-priced supplements and are more likely to purchase premium and specialty
supplements. According to data from the World Bank, Argentina has seen
a gradual increase in disposable income in the past decade. In 2010, the per
capita disposable income in Argentina was around USD 6,600, and it increased to
approximately USD 9,100 in 2019, which represents a growth of around 38% in the
past decade. This has led to the development of a wide range of
specialized supplements, such as sports nutrition supplements, weight
management supplements, and supplements for specific health conditions.
Furthermore, increased disposable income has allowed consumers to invest in
preventive healthcare, which includes the use of dietary supplements. Consumers
are seeking ways to maintain their health and prevent disease, and they view dietary
supplements as a way to achieve these goals. In addition, increased disposable
income has allowed consumers to purchase dietary supplements from a variety of
sources, including health food stores, online retailers, and specialized
supplement stores. This has increased the accessibility of supplements to a
wider range of consumers, which, in turn, has driven the growth of the
Argentina dietary supplements market.
Growing Demand for Preventive Healthcare
Preventive healthcare has a significant impact on the
growth of the dietary supplements market in Argentina. With the rising cost of
healthcare and an aging population, consumers are seeking ways to maintain
their health and prevent disease. Preventive healthcare involves taking steps
to prevent disease before it occurs, and the use of dietary supplements is an
important part of this strategy. Many consumers view supplements as a way to
fill nutritional gaps in their diets and support overall health and wellness.
The use of dietary supplements as a preventive healthcare strategy has become
increasingly popular in recent years, and this trend is expected to continue
during the forecast period. One of the reasons for the growth of the preventive
healthcare segment is the increasing focus on healthy aging. As the population
ages, there is a growing awareness of the importance of maintaining health and
preventing disease. Many consumers are seeking ways to support their overall
health and wellness as they age, and dietary supplements are seen as an
important part of this strategy. Additionally, the use of dietary supplements
as a preventive healthcare strategy has been driven by a growing awareness of
the importance of nutrition in maintaining health. Many consumers are seeking
ways to improve their nutrition and view supplements as a way to fill
nutritional gaps in their diets. This has increased the demand for dietary
supplements, which, in turn, will drive the growth of the Argentina dietary
supplements market during the forecast period.
Recent Development
In 2019, Abbott Laboratories, a multinational
healthcare company, acquired GlaxoSmithKline's nutrition business in Argentina,
including its line of dietary supplements.
In 2020, Laboratories Richmond, a pharmaceutical
company, announced that it had entered into a partnership with the Russian
Direct Investment Fund (RDIF) to produce the Sputnik V vaccine in Argentina.
While this partnership is not directly related to dietary supplements, it
highlights the growing interest and investment in the healthcare sector in
Argentina.
In 2021, the Argentine Chamber of Dietary
Supplements and Nutritional (CASDIN) launched a new certification program for
dietary supplement manufacturers, aimed at promoting quality and safety in the
industry.
Market Segmentation
The Argentina dietary supplements market can be
segmented by product type, form, distribution channel, application, end user,
and region. Based on product type, the market can be segmented into vitamin,
combination dietary supplements, protein, herbal supplements, fish oil &
omega fatty acid, and others. Based on form, the market can be segmented into
capsules, tablets, powder, soft gels, and liquid. Based on distribution
channel, the market can be grouped into pharmacies & drug stores, online,
supermarkets & hypermarkets, and others. Based on application, the market
can be grouped into immunity, general health, energy & weight management,
bone & joint health, and others. Based on end user, the market can be
grouped into adults, geriatric, pregnant females, children, and infants.
Market Players
Herbalife Nutrition Ltd., Omnilife S.A., Usana
Health Sciences Inc, Nutrilite (Amway) Argentina Inc, Natura & Co Inc, Life
Extension Inc, Isagenix International LLC, and Nature's Sunshine Products
Inc/Argentina are some of the leading players operating in the Argentina
dietary supplements market.
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Attribute
|
Details
|
|
Base Year
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2022
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|
Historic Data
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2018 – 2021
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|
Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue in
USD Million, and CAGR for 2018-2023 and 2024-2028
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|
Report Coverage
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Revenue forecast,
company share, competitive landscape, growth factors, and trends
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Segments Covered
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Product Type
Form
Distribution
Channel
Application
End User
|
|
Regional
scope
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Pampas, Litoral,
Northwest, Sierras, and Others
|
|
Key Companies
Profiles
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Herbalife
Nutrition Ltd., Omnilife S.A., Usana Health Sciences Inc, Nutrilite (Amway)
Argentina Inc, Natura & Co Inc, Life Extension Inc, Isagenix
International LLC, Nature's Sunshine Products Inc /Argentina.
|
|
Customization
scope
|
10% free report
customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing and
purchase options
|
Avail
customized purchase options to meet your exact research needs. Explore
purchase options
|
|
Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/Word
format on special request)
|
Report Scope:
In this report, the Argentina Dietary Supplements
market has been segmented into the following categories, in addition to the
industry trends which have also been detailed below:
- Argentina Dietary Supplements Market, By
Product Type:
o Vitamin
o Combination
Dietary Supplements
o Protein
o Herbal
Supplements
o Fish Oil &
Omega Fatty Acid
o Others
- Argentina Dietary Supplements Market, By Form:
o Capsules
o Tablets
o Powder
o Soft Gels
o Liquid
- Argentina Dietary Supplements Market, By
Distribution Channel:
o Pharmacies
& Drug Stores
o Online
o Supermarkets
& Hypermarkets
o Others
- Argentina Dietary Supplements Market, By
Application:
o Immunity
o General Health
o Energy &
Weight Management
o Bone & Joint
Health
o Others
- Argentina Dietary Supplements Market, By End
User:
o Adults
o Geriatric
o Pregnant
Females
o Children
o Infants
- Argentina Dietary Supplements Market, By
Region:
o Pampas
o Litoral
o Northwest
o Sierras
o Others
Competitive Landscape
Company Profiles: Detailed analysis of
the major companies present in the Argentina dietary supplements market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional
market players (up to five).
Argentina dietary supplements market is
an upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]