Latin America Probiotics Market Outlook 2031
The Latin America probiotics market size was USD 5.23 Billion in 2022 and is anticipated to reach USD 9.41 Billion by 2031 expand at a significant CAGR 6.74% during the forecast period, 2023-2031. The growth of the market is attributed to increasing demand for health-based products.
Probiotics are good live bacteria and yeasts which naturally are found in the body. Good bacteria help to removal of extra bad bacteria. Probiotics maintain a healthy diet balance and create vitamins in the body. Lactobacillus and Bifidobacterium are major types of bacteria whereas Saccharomyces boulardii is a prominent type of yeast. Yogurt is the most familiar source of probiotics.
During the COVID-19 pandemic, the consumption patterns of consumers has changed, which in turn, led them to opt for products with a nutritive value instead of processed foods. However, the closedown of the food & beverage industry due to restriction in the operation hindered the market growth.
Latin America Probiotics Market Trends, Drivers, Restraints and Opportunities
- Increasing awareness about probiotics benefits and willingness of consumers to purchase premium products incorporated with probiotics is projected to drive the market growth during the forecast period.
- Rising demand for nutritious food is expected to boost the market growth in the coming years.
- Growing demand for quality animal-based products is expected to spur the market growth during the forecast period.
- Increasing fitness goals among people is projected to drive the market growth in the projected timeline.
- High quality standards and regulations for probiotics products can restrain the growth of the market.
- Complexities in integrating probiotics in functional foods can create challenges for the market.
- The presence of advanced probiotics that can replace pharmaceutical agents is estimated to create lucrative opportunities in the coming years.
Scope of The Latin America Probiotics Market Report
The report on the Latin America probiotics market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Probiotics Market - Latin America Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Product Types (Food and Beverage [Dairy Products, Fermented Food Products, Non-Alcoholic Beverages, and Others] and Dietary Supplements [Animal Feed]) and Distribution Channels (Supermarkets/Hypermarkets, Pharmacies/Health Stores, Convenience Stores, and Others)
|
|
Geography
|
Brazil, Argentina, and Rest of Latin America
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Nestle SA; Groupe Danone; PepsiCo Inc.; Kevita Inc.; Fonterra Cooperative Group; and Yakult Honsha Co Ltd.
|
Latin America Probiotics Market Segment Insights
Dietary supplement segment to hold a significant market share
On the basis of product types, the market is divided into food and beverage and dietary supplements. The food and beverage segment is segregated into dairy products, fermented food products, non-alcoholic beverages, and others. The dietary supplement segment includes animal feed. The food and beverage segment is expected to hold a key share of the market in the coming years owing to reduction in the risk of developing and dying of heart disease.
However, the dietary supplement segment is anticipated to expand at a rapid pace during the forecast period, as it provides adequate amount of essential nutrients.
Convenience stores segment is expected to grow at a rapid pace
Based on distribution channels, the market is segregated into supermarkets/hypermarkets, pharmacies/health stores, convenience stores, and others. The supermarkets/hypermarkets segment is anticipated to hold a key share of the market in the coming years due to availability of variety and standard goods, less operating cost, and freedom of selection. On the other hand, the convenience stores segment is anticipated to expand at a rapid pace during the forecast period, as it provides an economic boost to the community.
Argentina is estimated to account a major market share
In terms of geography, the market is classified as Brazil, Argentina, and Rest of Latin America. Brazil is expected to constitute a key share of the market during the projected period. Growing awareness of probiotics such as weight loss, maintenance of digestive health, and improvement in immune function is driving the market growth in the country. However, the market in Argentina is anticipated to expand at a rapid pace during the forecast period due to rising consumer demand in the country.
Segments
The Latin America probiotics market has been segmented on the basis of
Product Types
- Food and Beverage
- Dairy Products
- Fermented Food Products
- Non-Alcoholic Beverages
- Others
- Dietary Supplements
Distribution Channels
- Supermarkets/ Hypermarkets
- Pharmacies/Health Stores
- Convenience Stores
- Others
Geography
- Brazil
- Argentina
- Rest of Latin America
Key Players
Competitive Landscape
Key players competing in the Latin America probiotics market includes Nestle SA; Groupe Danone; PepsiCo Inc.; Kevita Inc.; Fonterra Cooperative Group; Yakult Honsha Co Ltd.
Some of these players are engaging in business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market share.
Request For Customization
Enquiry Before Buying
Speak With Analyst
