Personalized Nutrition Market Will Projected to Boost USD 34.69
As per the latest analysis by Reports and Data, the global market for Personalized Nutrition was valued at USD 9.09 Billion in 2021 and is projected to grow at a CAGR of 16.1% to reach USD 34.69 Billion by 2030. With the rise of customization, the way we consume food has significantly changed, and personalized nutrition has become increasingly popular as it aligns with individual health objectives. The personalized nutrition approach believes that personalized dietary changes or advice can improve health outcomes and lower the risk of health conditions such as obesity, type 2 diabetes, and heart disease. Some people want customized food to improve their hair, skin, and nails, while others want to follow a diet with the lowest possible environmental impact.
Genetic test kits, food labels, and interactive apps are some of the major tools that can be utilized to tailor diets according to individual requirements. The growing demand for personalized experiences, an increasing preference for healthier foods and fitness, the ability to track health data using wearable technology, and progress in personalized or precision medicines are some of the key factors fueling the growth of personalized nutrition services.
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Top Companies Operating in the Global Personalized Nutrition Market Report:
BASF SE, Caligenix, Care/of, DayTwo Inc., DNAFit, Genomix Nutrition, GX Sciences, Habit Food Personalized LLC, InsideTracker, Lonza, Metagenics, Inc, DSM, Nutrigenomix Inc., and Telomere Diagnostics
Further key findings from the report suggest
• The key market players are adopting strategic initiatives such as expansion and collaboration, mergers and acquisitions, product development. For instance, Nestle utilized Japan’s aging population to launch its personalized nutrition service
• In 2018, Nestle S.A. chose the aging population of Japan to launch its first personalized nutrition service using a blend of artificial intelligence, DNA testing, and smartphone services. Today, they have around 100,000 users of the Nestle Wellness Ambassador program, which allows its users to send pictures of their food via the Line messaging app that then recommends lifestyle changes and specially formulated supplements. The program can cost about USD 600 a year for capsules that make nutrient-rich teas, smoothies, and other products such as vitamin-fortified snacks.
• The increase in the adoption rate of traditional medicine to treat various diseases has turned the Asia Pacific into a highly profitable market across the globe. Moreover, the region is characterized by a rising geriatric population, owing to which the demand for dietary supplements is expected to boost during the forecast period.
• Vitamin dietary supplements are expected to have the largest market share over other supplements owing to the high market penetration of products in this segment, especially in the developed economy. A major percentage of the U.S. population consume dietary intakes of vitamin A, C, D, and E. According to the Consumer Survey on Dietary Supplements in 2017, 76% U.S. adult who is more than 170 million take dietary supplements
• The other findings of According to the Consumer Survey on Dietary Supplements in 2017, suggests second most popular category is specialty supplements (38%), followed by herbals/botanicals (29%), sports nutrition supplements (22 %), and weight management supplements (15%).
• North America is expected to be the region with the highest market share of 41.2%. It is primarily due to well-established food and biotechnology industries in the U.S, well-developed infrastructure, coupled with the presence of several personalized nutrition companies in the country
• These key players are focused on research activities for customized wellness product development. Developments in the methods of preparing the dietary supplements coupled with the processes for formulating sophisticated and high-quality drugs are considered by the key trends which are expected to boost the personalized nutrition market during the forecast period.
• The functional food products segment is expected to grow by 9.0% by the easy availability of fortified products and changes in the regulatory scenario. Functional foods for protein source is expected to dominate the market. It is due to the rising demand and high usage rate of protein-enriched foods among athletes.
For the purpose of helping readers make profitable business decisions, the report is written with industry analysts, market segmentation, and data collection. In addition to providing detailed information on technical and product advances, this report also discusses market value, growth rates, and niche market segments in detail.
An analysis of the Personalized Nutrition market has been carried out by segmenting it into key regions and offering information on growth rates, market shares, current and emerging trends, production and consumption ratios, analysis of the industrial chain, demand and supply, imports and exports, revenue contributions, and the presence of key players in each region. To gain a better understanding of the regional spread of and progress of the Personalized Nutrition market, a country-by-country analysis of the market is provided in the report.
The global Personalized Nutrition market is segmented into:
• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Further market segmentation
Product Type Outlook (Revenue, USD Billion; 2019-2030)
• Herbals or botanicals
Application Outlook (Revenue, USD Billion; 2019-2030)
• Health monitoring device
• Laboratory-based devices
End-use Channel Outlook (Revenue, USD Billion; 2019-2030)
Key Questions Addressed in the Report:
• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market? What kind of strategic business plans have they made?
Thank you for taking the time to read our article. The report can be tailored to the needs of the client. Please contact us for more details, and our team will tailor the report to your specific requirements.
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This release was published on openPR.