Argentina Nutritional Supplements Market Report 2022 to 2030

Argentina Nutritional Supplements Market Analysis

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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.

ID: IN10ARON002 CATEGORY: OTC & Nutraceuticals GEOGRAPHY: Argentina AUTHOR: Dr. Vishwa Modhia

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Argentina Nutrition and Supplements Market Analysis Summary

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 Dynamics

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.

Market Restraints

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.

Competitive Landscape

Key Players

Laboratorios Bagó (ARG)
Bayer Argentina (ARG)
Lab. Elea Phoenix (ARG)
Farmasierra Argentina (ARG)
Alfa Vitamins Laboratories (ARG)
GNC
GlaxoSmithKline

Healthcare Policies and Reimbursement Scenarios

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)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation

6. Methodology and Scope

Nutritional Supplements Market Segmentation

The Nutritional Supplements Market is segmented as mentioned below:

By Product (Revenue, USD Billion):

Sports Nutrition
- Sports Food
- Sports Drinks
- Sports Supplements

Fat Burners
- Green Tea
- Fiber
- Protein
- Green Coffee
- Others (Turmeric, Ginseng, Cranberry, Garcinia Cambogia)?

Dietary Supplements
- Vitamins
- Minerals
- Enzymes
- Amino Acids
- Conjugated Linoleic Acids

Functional Foods
- Probiotics
- Omega-3
- Others

By Consumer Group (Revenue, USD Billion):

Infant
Children
Adults
Pregnant
Geriatric

By Formulation (Revenue, USD Billion):

Tablets
Capsules
Powder
Softgels
Liquid
Others

By Delivery Channel (Revenue, USD Billion):

Chemists/Pharmacists
Direct-to-Consumer Sales
E-commerce

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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The National Administration of Drugs, Foods, and Medical Devices regulates nutritional supplements in Argentina (ANMAT).

The nutritional supplements market in Argentina is primarily dominated by local players such as Lab. Elea Phoenix, Bayer Argentina, and Laboratorios Bagó.