Latin America Probiotic Supplements Market Report and Forecast 2024-2032

Latin America Probiotic Supplements Market Outlook

The Latin America probiotic supplements market size reached a value of approximately USD 110.62 million in 2023. The market is further expected to grow at a CAGR of 6.80% between 2024 and 2032, reaching a value of USD 200.85 million by 2032.

Key Trends in the Market

Probiotics refer to live microorganisms such as good bacteria or yeasts that are naturally present in the body, and they help in eliminating bad bacteria to avoid infection or diseases. To boost the probiotic volume in a person’s body, probiotic supplements are used to provide additional good bacteria. Probiotic supplements help in keeping the body healthy, create vitamins, breakdown and absorb medications and help support cells to prevent bad bacteria.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

• The use of probiotics in liquid drinks and beverages has gained popularity in the region which is fuelling the Latin America probiotic supplements market. Multiple beverage brands are introducing liquid drinks with different flavours in their probiotic supplement section which is attracting many customers in Latin America.

• Consumers with lactose intolerance are inclining more towards non-dairy probiotic products which have low-levels of cholesterol and lactose. The convenience of incorporating probiotics is an on-going trend which is boosting the market in the region. Increased awareness for such non-dairy products and rising customer preference towards healthy snacks like probiotic yogurts and drinks are expanding the Latin America probiotic supplements market.

• The rising use of probiotic supplements by multiple pharmaceutical companies in the region is one of the key trends for the growth of the probiotic supplements market. Female consumers are shifting towards intaking healthy ingredients in their regular diets like prenatal probiotics capsules and gummies owing to the increased focus on maternity health and the advantages of probiotic supplements.

Market Analysis

Based on source, the market is segmented into bacteria, and yeast among others. On the basis of form, the market is bifurcated into liquid and dry, with dry further divided based on type into capsules, chewables and gummies, tablets and softgels, and powder, among others. On the basis of application, the market is classified into gastrointestinal health, immune health, oral health, urinary tract health, and vaginal health, among others. Based on end user, the market is segmented into infants, children, adults, and geriatric. On the basis of distribution channel, the market is divided into hypermarkets and supermarkets, pharmacies, and online, among others. By country, the probiotic supplements market in Latin America is divided into Brazil, Argentina, Mexico, Chile, Colombia, Peru, Ecuador, and Central America.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Latin America probiotic supplements market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• 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.

• Farmaceutica Medcell Limitada

• Others

Market Share by Form

Based on form, liquid probiotic supplements account for a larger share in the Latin America probiotic supplements market. With growing awareness of the health benefits of probiotic and increasing preference for flavoured drinks and beverages like probiotic yogurt and smoothies, there is a rising demand for liquid probiotic supplements. Consumers are now preferring probiotic drinks over soft drinks due to their beneficial properties like gut health and digestion. The increased inclination towards probiotic liquid due to multiple health benefits is aiding the growth of the overall probiotic supplements market in Latin America.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Nestlé Health Science S.A. is a globally recognised company in nutritional science which was founded in 2011 and is headquartered in Vevey, Switzerland. They offer a wide range of products from active lifestyle nutrition and pharmaceutical therapies to medical nutrition.

BioGaia AB is a Swedish biotechnology company founded in 1990 and headquartered in Stockholm, Sweden. They specialise in a variety of products for baby and child gut health, adult gut health, probiotic gastrointestinal health, oral and bone health.

Procter & Gamble is an American consumer goods company which is headquartered in Ohio in the United States and was founded in 1837. They have a wide range of products that include conditioners, shampoos, toothbrushes, detergents, and more.

Other market players include AB-Biotics, S.A., Farmoquímica SA, Herbalife International, Inc., Grupo Omnilife, S.A. de C.V., and Farmaceutica Medcell Limitada, among others.

Key Highlights of the Report