South America Vitamin Fortified and Mineral Enriched Food & Beverage Market - Growth, Trends and Forecast (2020 - 2025)

South America Vitamin Fortified and Mineral Enriched Food and Beverage Market is projected to grow at a CAGR of 7.1% during the forecast period (2020-2025).

• Fortification is the process of adding a nutrient or ingredient that was not found naturally in that product. In Brazil and other South American regions, obesity rates have increased over time. Therefore, to improve the health condition of the people, significant progress in food fortification has been targeted and achieved.
• Food fortification is attractive because it does not require the target groups to change their diet but can be implemented by the food industry, and because it reaches large numbers of consumers through retail. Expenditure on health goods and services is expected to grow significantly and simultaneously, as consumers in this group take more care of their physical condition.

Key Market Trends

Growing Popularity of Functional Beverages

Consumers in South America have a greater understanding of the relationship between diet and health, which is fueling the growth in the industry. Besides, the increasing purchasing power among the middle-class population is triggering the market growth. The obesity rate is increasing in Brazil, which is further increasing health awareness among individuals, as a result, consumers are shifting towards these functional drinks. Consumers in Argentina are demanding packaged food that provides health & wellness, despite the economic crisis. This trend is expected to benefit the functional beverage market of the beverage market. Strong promotional activities and discount deals offered by hypermarket supermarkets are boosting the market for the functional beverages in Argentina.

Supermarket/Hypermarket is the Preferred Channel

The increase in demographics spending, ease, and convenience through supermarket purchases is expected to pave a strong pathway for fortified food manufacturers to penetrate, particularly in the developing countries, where these stores are being set in large numbers. Consumers prefer purchasing the food & beverage products through supermarkets, as it serves as a platform with the availability of all the products in one place, which saves time and energy. The supermarket/hypermarket chains are searching for new ways to increase sales through their channels. Discount offers, lending new attractive look to the products, and making brochures are some of the techniques being adopted to increase sales.

Competitive Landscape

South America vitamin fortified and mineral enriched food and beverage is fragmented and competitive in nature having a large number of players competing for market share. Companies focusing on new product launches with healthier ingredients/organic claims along with acquisition, merger, partnership, and expansions as their key marketing strategy. Some of the major players in the market studied are Abbott, Kellogg Company, PepsiCo, and Kraft Heinz among others.

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