Argentina Nutraceuticals Market Research Report, 2027

As the proportion of the global population over 50 steadily rises, demands for solutions to the multitude of problems associated with old age continue to increase. People in nearly every part of the world are living longer, but their chances of spending these later years in good health vary within and between countries. Because of the increasing population in different countries, the incidence of chronic diseases also rises. Therefore, the solution for the prevention of chronic diseases is either healthy foods or the consumption of medicines. These two can be considered in one and are known as nutraceutical products. The nutraceuticals can be used both as food and as medicine. A nutraceutical product provides the benefit of protection against chronic diseases. Moreover, the nutraceuticals are also used to boost the immune system for better health. According to the Actual Market Research report titled, "Argentina Nutraceutical Market Overview 2027," the Argentine nutraceutical market is expected to grow at a CAGR of more than 9%. The Argentine Guidelines for preventing and controlling diseases like osteoporosis recommend a suitable daily intake of the majority of required minerals and vitamins, which is expected to drive the growth of the market in the upcoming years. The Argentine nutraceutical market is driven by an increasing evident trend towards preventive medicine, which reduces healthcare costs acutely. The nutraceutical industry in Argentina is seeing increased demand for nutraceutical ingredients due to their increasing awareness among consumers regarding healthy diets incorporated by healthy ingredients. The Argentine nutraceutical market is observed on the basis of product type: dietary supplement type, by functional beverage type, by functional food type. By product type, functional foods have the highest market attractiveness, with a CAGR of more than 8%.foods in the avoidance of efforts can lead to decreased dependency on drugs, which has led to serious concerns among pharmaceutical manufacturers. It is, however, anticipated to drive the growth of the nutraceutical market across the globe and also across Argentina. Moreover, the increase in the population in Argentina raises the demand for functional foods and healthy diets. The prevailing increase in the population of people over 50 years of age requires a healthy food diet to be consumed. These people are more likely to become infected with the rising chronic diseases.Therefore, these people require more consumption of healthy diets. Therefore, with the increase in the population and the increase in the spread of chronic diseases, these are considered the major drivers for the functional food market. Furthermore, dietary supplements contain vitamins with the highest market attractiveness, with a CAGR of more than 9%. The COVID-19 pandemic remains the single biggest driver of sales of vitamins. Argentina continues facing difficulties in obtaining a sufficient number of vaccines for its mass COVID-19 vaccination drive in the second quarter of 2021. Accordingly, many consumers remain cautious about increasing their overall health and boosting their immune systems through the consumption of vitamins. Moreover, the increase in demand for organic products has given rise to the increase in market size of the probiotics market. The increasing consumption of processed foods, poor lifestyle patterns, and an increased level of knowledge from health authorities and the media on nutrition and the link between health and diet have increased the demand for probiotic supplements. By functional beverage type, the market has dairy and dairy alternatives as the fastest growing market with a CAGR of more than 13%. The dairy alternative has become a growing need for consumers who are allergic to conventional milk and milk products. Most of the customers select them because of prejudices about allergic cow’s milk, while others select them for taste. Consumers with allergies to dairy products are eagerly looking for plant-based milk with a huge amount of nutrients, vitamins, and calcium with the same contentment as cow’s milk. Dairy milk was the healthiest food in the past, but an increase in allergies among consumers has decreased the demand for dairy products in the future. The functional food market further has the soy product market as one of the fastest growing markets with a CAGR of more than 9%. Soybeans or soy products are the king in Argentina. The country grew 20 million hectares of soybeans in 2015 and the crop remains the country’s main export—valued higher than Argentina’s cereal, automotive, and petrochemical exports. Today, 60 percent of the world’s soy biodiesel and more than 40 percent of global soybean oil and soy meal production are derived in Argentina. The health of the soybean crop is of great national interest. Moreover, Argentina is one of the leading exporters of soy products. Considered in this report • Geography: Argentina • Historic Year: 2016 • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects covered in this report • Argentina dietary supplements • by supplement type market analysis • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation Based on by product type in the report: • Dietary supplement • Functional foods • Functional beverages Based on by Dietary Supplement type in the report: • Vitamins • Minerals • Botanicals • Amino acids/ protein • Probiotics • Other type Based on by functional beverages type market in the report: • Energy drinks • Sports drinks • Fortified juice • Dairy and Dairy alternatives • Other functional beverages Based on by other functional food type market in the report: • Bakery and cereals • Dairy products • Meat, Fish & Eggs • Soy products • Fats & Oils • Other functional foods The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to medical industry, dietary supplement manufacturers, suppliers, associations & organizations related to nutraceutical supplements market, trends and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.