Market Overview:
MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the South America Probiotic Supplements Market, The South America Probiotic Supplements Market is projected to grow at a CAGR of around 3.97% during the forecast period, i.e., 2023-28. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight & sustainable materials, rising demand for luxury & customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the South America Probiotic Supplements Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.
Industry Outlook & Forecasts:
- Forecast Period: 2023-2028
- CAGR (2023-2028): 3.97%
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South America Probiotic Supplements Market Segmentation Breakdown:
The South America Probiotic Supplements Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
By Form
- Solid Form
- Tablets
- By End User
- Kids (3.1 to 15 years)
- Adults (Above 15 years)
- Capsules
- By End User
- Kids (3.1 to 15 years)
- Adults (Above 15 years)
- Gummies
- By End User
- Kids (3.1 to 15 years)
- Adults (Above 15 years)
- Powder
- By End User
- Infants (Upto 3 Years)
- Kids (3.1 to 15 years)
- Adults (Above 15 years)
- Chewable
- By End User
- Kids (3.1 to 15 years)
- Adults (Above 15 years)
- Others (Sachets, Syrups, BFS vials, etc.)
Of them all, Capsules dominated the South America Probiotic Supplements Market during 2018-22. The market growth imputes to the rising intake of probiotic capsules among the elderly & adults as it effectively helps in reducing the formation of acids in the gastrointestinal tract.
By End User
- Infant
- Kids
- Adults
- 16-35 Years
- 36-50 Years
- 51-65 Years
- Above 66 Years
By Distribution Channel
- Pharmacies
- Health & Beauty Speciality Stores
- Supermarkets & Hypermarkets
- Convenience Stores
- Online Stores
- Via E-commerce Players
- Supplier Selling Via Own Website
Of them all, Pharmacies captured a considerable market share in the South America Probiotic Supplements market during 2018-22, owing mainly to consumers' rising preference to take probiotic supplements to maintain immunity & promote healthy living, thereby supporting pharmacies' burgeoning demand for them.
By Diseases
- Digestive Health
- Lactose Intolerance
- Constipation
- Others (Ulcerative Colitis, Colic, etc.)
- Irritable Bowel Syndrome (IBS)
- Oral Disease
- Immunity-based Disease
- Others
- Cardiovascular Diseases
- Respiratory Infections
- Obesity
- Memory/Mood/Relaxing
Here, Digestive Health acquired a major share in the South America Probiotic Supplements market during 2018-22.
Geographical Growth Insights:
By Country
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
Of all the countries, Brazil has been portraying a noticeable market growth since 2017 due to the rise in the number of active lifestyle users as well as increased awareness of the digestive health benefits of consuming probiotic supplements.
MarkNtel Advisors Highlights Key Market Drivers for South America Probiotic Supplements Market:
Prevalence of Gastrointestinal Diseases Among the Individuals to Aid the Market Growth
The increasing number of gastrointestinal diseases in South America has significantly boosted the demand for probiotic supplements. Some major countries with a sizeable population, such as Brazil, Chile, Argentina, etc., have reported an increase in the number of gastrointestinal diseases. In addition, the growing cases of irritable bowel syndrome, Crohn's, and liver diseases have been some of the major reasons attributing to the growth in the cases of gastrointestinal disease. Furthermore, degrading eating habits & genetic disorders are chiefly responsible for the growing liver disease cases among the region’s population.
In addition, the rise in research & development activities by the probiotic manufacturers such as DSM & Bayer, among others, have assisted in providing different supplements for patients suffering from gastrointestinal diseases such as hemorrhoids, constipation, etc. This would increase the consumption of probiotic supplements among the population.
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A Comprehensive Analysis of Leading Companies in South America Probiotic Supplements Market
- Yakult SA Industria E Comercio
- BioGaia
- Bayer AG
- Kerry Group
- Nestle SA
- Novartis SA
- Archer Daniel Midland Company
- Danone Group
- FrieslandCampina Ingredients
- The Procter & Gamble Company
- Others (Kevita (PepsiCo Inc.), Chr. Hansen Holding A/S, etc.)
South America Probiotic Supplements Market Growth Opportunity:
Increasing Versatility of Probiotic Products Beyond Digestive Health
The increase in research & development activities & the manufacturing of probiotic supplements for other health-related diseases such as cardiovascular disease, hypocholesterolemia, bone health, oral health, etc., is projected to stimulate the growth of the Probiotic Supplement market in the years to come. Furthermore, the growing consumer awareness regarding the benefits of probiotic supplements pushes the chemical industry to start developing new strains of probiotics to reduce pain in patients.
Moreover, the increasing focus of the manufacturers on the development of new probiotic supplements to cater to the population with diseases such as cardiovascular disease, hypocholesterolemia, bone health, etc., would provide more opportunities to the probiotic supplement providers in the forthcoming period.
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