South America Weight Management Products - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

South America Weight Management Products - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The South American weight management products market is valued at USD 9.55 billion in the current year and is projected to witness a CAGR of 9.11% during the coming five years.

Key Highlights

• Consumers perceive healthy weight as the basis of overall well-being. Hence, they are seeking products that can help them in weight management. Weight management products comprise supplements that contain various combinations of minerals, herbs, and fiber.
• With the rising prevalence of obesity and diabetes, the consumption of weight management products has increased in popularity across all age groups. Moreover, there is a rise in the demand for weight loss supplements that offer additional health, such as improving the immune system and building muscle mass.
• Furthermore, the market is likely driven by rising demand for preventive health practices to live a healthy and disease-free life. Other factors inducing the market growth include the increasing popularity of fitness training and rising disposable incomes. Moreover, product innovations by leading players, such as herbal and organic slimming products, are boosting market growth.
• However, the primary factor restraining the development of the market is the high cost of weight management products, owing to the additional processing required for low-calorie products and other nutrients, such as vitamins and minerals. Besides, significant brands focus on weight loss supplements that provide balanced nutrition, vitamins, and minerals, resulting in a complete nutrition package. They are competing based on these new products, focusing more on overall wellness than reducing weight. All of the above factors contribute to the growth of the market.

South America Weight Management Products Market Trends

Rising Obesity Incidence and Weight Consciousness

• In South American countries, there has been a significant increase in obesity rates in all age groups. According to the Ministério da Saúde, Brazil, in 2021, a study found that approximately 22.4 percent of the adult population in Brazil was considered obese.
• According to the body mass index (BMI) computed by the source with the weight and height of the respondents, 26.2 percent of respondents aged between 45 and 64 years were considered obese that year, being the most affected age group by obesity in Brazil. Consequently, obesity caters to a significant percentage of total health expenditure in many countries. The high healthcare cost will likely increase consumer spending on weight management products as they are readily available.
• Additionally, the demand for meal replacement products is high in the South American region as consumers rigorously monitor their regular diets and nutritional intake due to the increasing weight consciousness. Thus, key players offer tailored meals, such as shakes and drinks, for people willing to modify their regular diets to lose weight effectively.
• Alongside the already prevailing obese population, the weight loss management market enjoys a broader consumer base created by the emergence of related health issues among Americans. Moreover, with young consumers focusing more on health and following beauty standards, the demand for weight-loss supplements is anticipated to surge in upcoming years, further uplifting the overall market.

Argentina to Drive the Market

• Argentina is expected to hold a prominent share of the market. Factors such as the increasing incidence of obesity and chronic diseases, growing awareness about nutritious and healthy lifestyles, and rising disposable income are supporting the weight management products market growth in the country.
• Moreover, the increasing number of people participating in physical activities and the rise in the health and fitness industry positively influence the market. Health clubs are essential in endorsing weight loss products among their respective consumers.
• Gym enthusiasts and bodybuilders are the prime consumers of weight management products. Moreover, bodybuilders incorporate these products with a specific plan to achieve different fitness goals, such as gaining lean mass and improving body composition. Lifestyle modifications, such as adopting a healthy eating pattern, decreasing caloric intake, and incorporating physical activity into one's routine, are viewed as challenging for some people. Consequently, they opt for weight loss supplements claimed to aid in managing weight loss.
• Moreover, manufacturers offer supplements with various assertions, including reducing macronutrient absorption and appetite and increasing metabolism, thermogenesis, and body fat and weight removal. All of these factors are positively impacting the market growth.

South America Weight Management Products Industry Overview

The South America weight management products market is competitive in nature, with many domestic and multinational players competing for market share. Key players dominating the market include Herbalife International of America, Inc., The Hut.com Limited (Myprotein), Carson Life Inc., N.V. Perricone LLC, and BPI Sports LLC. Emphasis is given to mergers, expansions, acquisitions, partnerships, and product development as strategic approaches to boost the brand presence among consumers.

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