Argentina Dietary Supplements Market By Product Type (Vitamin, Combination Dietary Supplements, Protein, Herbal Supplements, Fish Oil & Omega Fatty Acid, and Others), By Form (Capsules, Tablets, Powder, Soft Gels, and Liquid), By Distribution Channel (Pharmacies & Drug Stores, Online, Supermarkets & Hypermarkets, and Others), By Application (Immunity, General Health, Energy & Weight Management, Bo
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationArgentina Dietary Supplements Market By Product Type (Vitamin, Combination Dietary Supplements, Protein, Herbal Supplements, Fish Oil & Omega Fatty Acid, and Others), By Form (Capsules, Tablets, Powder, Soft Gels, and Liquid), By Distribution Channel (Pharmacies & Drug Stores, Online, Supermarkets & Hypermarkets, and Others), By Application (Immunity, General Health, Energy & Weight Management, Bo
According to Statistics Argentina, as of 2021, 285 food supplement retailers are present in the Buenos Aires region of the country, which caters to the highest count in Argentina.
Growing Aging Population
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.
Growing Concerns about Health
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.
Growing Demand for Natural and Organic 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,
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
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.
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 retailers, 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.
| Attribute | Details |
| Base Year | 2022 |
| Historic Data | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2023 and 2024-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Product Type Form Distribution Channel Application End User |
| Regional scope | Pampas, Litoral, Northwest, Sierras, and Others |
| Key Companies Profiles | 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) |
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