The ‘Latin America Probiotic Supplements Market Trends, Share, Price, Size, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Latin America probiotic supplements market, assessing the market on the basis of its segments like source, form, application, end user, distribution channel, and country.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 103.48 million
- Forecast CAGR (2023-2028): 90%
- Forecast Market Size (2028): USD 153.8 million
The Latin America probiotic supplements market is being driven by rising awareness of the health benefits of probiotics and increasing availability of different types of probiotic supplements. As more consumers in Latin America join the work force and lead busy lifestyles with unhealthy diets, the demand is surging for a variety of health supplements. Probiotic supplements have versatile applications, and can aid in improving gastrointestinal health, oral health, vaginal health, and immunity, among others. A growing focus on gut health in various countries in Latin America and the role of gut biome in overall health is leading to an augmented demand for the Latin America probiotic supplements market.
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Liquid form of probiotic supplements account for a significant share of the probiotic supplements market in Latin America. A variety of liquid forms of probiotic supplements are available, including flavoured beverages such as probiotic yogurts and smoothies. Liquid probiotic supplements are considered more effective than dry probiotic supplements, as they can support live and active cultures of bacteria, resulting in greater effectiveness. The different flavours available also increase the appeal of liquid probiotic supplements, particularly among children who are greatly influenced by taste. Meanwhile, the liquid form is also popular for geriatric end users as liquids don’t require swallowing of pills, which is further aiding the Latin America probiotic supplements market expansion.
Latin America Probiotic Supplements Industry Definition and Major Segments
Probiotic supplements are a type of dietary supplement that contain probiotics from sources such as bacteria and yeast, among others. These probiotics contain healthy microorganisms that increase the level of good bacteria in the body, improving the natural volume of probiotics. Probiotic supplements are beneficial for gut health, digestion, skin, and aid in strengthening the immune system.
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Based on source, the market is divided into:
On the basis of form, the market is categorised into:
- Breakup by Type
- Chewables and Gummies
- Tablets and Softgels
- Breakup by Type
By application, the market is segmented into:
- Gastrointestinal Health
- Immune Health
- Oral Health
- Urinary Tract Health
- Vaginal Health
Based on end user, the market is classified into:
On the basis of distribution channel, the market is divided into:
- Hypermarkets and Supermarkets
By country, the market is categorised into:
- Central America
Latin America Probiotic Supplements Market Trends
Increasing incorporation of probiotic supplements into daily lifestyles is among the key trends aiding the Latin America probiotic supplements market growth. Availability of bulk packages of probiotic supplements across various distribution channels is leading to more consumers adopting these supplements as a part of their daily lifestyles. Distribution channels in Latin America are expanding their offerings for probiotic supplements, with hypermarkets and supermarkets emerging as a popular distribution channel for consumers. Through hypermarkets and supermarkets, consumers can purchase probiotic supplements along with the rest of their groceries.
Meanwhile, the rising popularity of probiotic supplements in dry powder form is anticipated to be among the crucial trends in the Latin America probiotic supplements market over the forecast period. In powdered form, the shelf life of probiotic supplements is increased significantly and they can be stored with ease. Powder probiotic supplements can be used in numerous ways, such as sprinkled on yogurt, in smoothies, oatmeal, and other food preparations. The nutritional profile of baby food can also be boosted by adding suitable probiotic supplements. Increasing popularity of food and beverage recipes that utilise probiotic supplements, including in liquid and powder form, are assessed to provide lucrative opportunities for market growth in coming years.
Key Market Players
The major players in the Latin America probiotic supplements market report are Nestlé Health Science S.A., Biogaia AB, Procter & Gamble, AB-Biotics, S.A., Farmoquímica SA, Herbalife International, Inc., Grupo Omnilife, S.A. de C.V., and Farmaceutica Medcell Limitada, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.