By 2030, it is anticipated that the Argentina Nutrition and Supplements market will reach a value of $xx Mn from $xx Mn in 2022, growing at a CAGR of xx% during 2022-30. The nutritional supplements market in Argentina is primarily dominated by local players such as Lab. Elea Phoenix, Bayer Argentina, and Laboratorios Bagó. The market for nutrition and supplements in Argentina is primarily driven by an inclination towards better health infrastructure, government regulations and increasing consumer awareness of health and lifestyle. The Argentina nutrition and supplements market in Argentina is segmented by Type, Product, application, and Distribution Channel.
By 2030, it is anticipated that the Argentina Nutrition and Supplements market will reach a value of $xx Mn from $xx Mn in 2022, growing at a CAGR of xx% during 2022-30.
Argentina is a high-income, developing country in South America bordering the Southern Atlantic Ocean. The market is constantly expanding, and there are numerous more local and international enterprises in Argentina that manufacture high-quality nutritional supplements. This year, the retail value of Nutritional supplements in Latin America will increase by 6.2% year on year, thanks to a combination of factors such as growing populations, a rising middle class, and healthier habits.
The Sumando Manos Foundation is an NGO that is doing excellent work in Argentina to improve nutrition and health care. Since its inception in 2005, the charity has assisted over 7,000 children and their communities. The government of Argentina spent 10% of their GDP on healthcare in the year 2020.
Market Growth Drivers Analysis
Argentina has a huge economy and domestic market, making it an ideal location for businesses such as nutritional supplements. Nutritional supplement sales climbed significantly in 2018, led by herbal and traditional items such as ginkgo biloba, chia, spirulina, fish oil, and green coffee pills, as a result of healthier behaviours and increasing knowledge of natural ingredients. Herbal and traditional Nutritional supplements accounted for the majority of retail sales in 2018, with aloe leading the way with a 32% increase in sales. A consumer shift away from over-the-counter medical solutions and toward "longer-term illness prevention via Nutritional supplements" would also contribute to total supplement growth, as would a growing trend toward diet control if weight and obesity concerns persisted. These aspects could boost Argentina's nutrition and supplement market.
A nationwide economic slump in 2018 combined with the financial toll of the COVID-19 pandemic resulted in Argentina's biggest increase in poverty in decades. Argentina is experiencing sticky and soaring inflation. Around 41% of the urban population now lives below the national poverty threshold. Although Argentina offers universal health care, it is decentralised, resulting in significant disparities in care quality. Healthcare access is particularly inadequate or non-existent in the country's more rural and distant locations. These factors may deter new entrants into the Argentina nutrition and supplement market.
The National Administration of Drugs, Foods, and Medical Devices regulates nutritional supplements in Argentina (ANMAT). The ANMAT assures that nutritional supplements sold in Argentina are safe, correctly labelled, and do not make deceptive promises. Products entering Argentina must be approved and registered in the "National Register of Foodstuffs" (Registro Nacional de Productos Alimenticios - RNPA). Nutritional supplements (supplements dietarios) are considered foods and are governed by "Article 1381 of the Argentine Food Code (Código Alimentario Argentino - CAA.
There is no formal reimbursement method in Argentina for nutritional supplements or medicinal meals. Furthermore, the Argentine government operates a social security system known as "PAMI" (National Institute of Social Services for Retirees and Pensioners), which offers healthcare coverage to old and retired residents. PAMI may cover some nutritional supplements and medicinal foods for specific medical problems, however, the eligibility criteria and products covered may differ.
1. Executive Summary
1.1 Product Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Government Regulation in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel and Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
184.108.40.206 Product Applications and Services
220.127.116.11 Recent Developments
18.104.22.168 Partnerships Ecosystem
22.214.171.124 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
6. Methodology and Scope
The Nutritional Supplements Market is segmented as mentioned below:
By Product (Revenue, USD Billion):
By Consumer Group (Revenue, USD Billion):
By Formulation (Revenue, USD Billion):
By Delivery Channel (Revenue, USD Billion):
Insights10 will provide you with the reports within 10 key parameters which are:
Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.
Stage I: Market Data Collection
Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.
Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain a high level of accuracy and consistency. The market data is analyzed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, and market share as well as a segment-level analysis of the specific market. Our report includes precise, to-the-point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.
Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:
Stage II: Market Data Analysis and Statistical Model
Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.
Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.
The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.
The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.
Data Triangulation & Validation:
Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases, and company-level averages, etc.
We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.
Stage III: Interpretation and Presentation
Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)
Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to oﬀer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and their impact on the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.
Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.
We value your inquiry and offer free customization with every report to fulfil your exact research needs.
The National Administration of Drugs, Foods, and Medical Devices regulates nutritional supplements in Argentina (ANMAT).
There is no formal reimbursement method in Argentina for nutritional supplements or medicinal meals. Furthermore, the Argentine government operates a social security system known as "PAMI" (National Institute of Social Services for Retirees and Pensioners), which offers healthcare coverage to old and retired residents.
The nutritional supplements market in Argentina is primarily dominated by local players such as Lab. Elea Phoenix, Bayer Argentina, and Laboratorios Bagó.
This report addresses