The report titled “Mexico Nutraceuticals Industry Outlook to 2017 - Demand from Ageing and Obese Population to Drive Revenues” provides a detailed analysis of the industry covering various aspects including market size in terms of revenues and market segmentation on the basis of major categories such as dietary supplements and functional food and beverages. The report also includes competitive scenario of major players operating in the industry. The future projections are included to provide an insight on the prospects available in the Mexico nutraceuticals industry.
The nutraceuticals sector of Mexico has continued to grow in terms of market offerings and players, largely keeping pace with the burgeoning demand over the years. The economic scenario of Mexico is still suffering from a slowdown, although the economy has advanced at a higher rate than the neighboring countries including the US. A majority of the population in Mexico falls in the category of middle-aged adults of 40-64 years of age, which form the target populace for the nutraceuticals industry. The increasing concern amongst middle-aged consumers to maintain a healthy way of living has resulted in growing expenditure on nutraceuticals in the country.
The demand for fortified meals and beverages, such as calcium-enriched food and drinks, vitamins and nutritional supplements, as well as high-fiber, low fat, sugar, cholesterol and sodium products have traced an increasing growth over the years. The market has increased at an annualized rate of 7.6% over this period, with functional food and beverages being the largest contributing category. The market registered revenues worth USD ~ million in 2012, which increased by an estimated ~% from 2011.
Mexico was ranked as the most obese nation in 2012, overtaking the US for the first time. Nearly 70% of the Mexicans were observed to fall in the obese and overweight category, with the rates tripling for children over the last decade. The serious epidemic of obesity has triggered the weight-related diabetes which has been recorded to claim a majority of the Mexican lives each year, with an approximate one of every six adult suffering from the disease. These factors have encouraged people to adopt a healthier diet, which has made nutraceuticals an indispensible item in dietary regimes.
Over the span of 2006-2012, the market for functional food and beverages in Mexico has expanded at a healthy growth rate, overtaking Brazil to gain the position of the fourth largest market for fortified products in the world. The sales of dietary supplements have also noticed a similar increase over the years. The growing risk of chronic diseases in the country has prompted an increasing number of people to consume these supplements in order to boost immunity and fulfill nutritional requirements. Additionally, the purchase of dietary supplements in the country has also been bolstered by the growing necessities of an expanding middle aged and elderly population.
The nutraceuticals market in Mexico is estimated to grow by leaps and bounds in the coming years, with increasing efforts of both the government and market players to tackle the growing problems of diet-inflected diseases. The operating conditions in the nutraceuticals industry are expected to toughen, with stricter regulatory governance. This is expected to increase the faith of consumers in the products apart from gradually eradicating the presence of fraudulent and harmful products from the market. In the coming years, the nutraceuticals market in Mexico is anticipated to expand at an annualized rate of ~% over 2012-2017, growing from USD ~ million in 2012.
Key topics covered in the report
The market size of Mexico Nutraceuticals industry in terms of revenue
Market segmentation of the Mexico Nutraceuticals industry by types of products
Market size of Mexico Functional food and beverage and dietary supplements market by revenue
Market segmentation of Functional food and beverage market by product form
Market size and segmentation of functional food market
Market size and segmentation of functional beverage market
Market share of major brands in functional food market
Government rules and regulations
Trends and Developments in Mexico Nutraceuticals industry
Future Outlook and Projections of Mexico Nutraceuticals industry