According to the current analysis of Reports and Data, the global Personalized Nutrition Market was valued at USD 8,238.2 Million in 2020 and is expected to reach USD 24.29 Billion by the year 2028, at a CAGR of 14.3%. In the era of customization, the trend is profoundly changing the ways of consuming food. Personalized nutrition and diet fit in perfectly with people’s individual health goals. A personalized nutrition approach is based on the idea that customizing nutrition advice or making dietary changes would significantly improve our health and lower the risk of conditions like obesity, type 2 diabetes, and heart disease. Some want tailored food to achieve great hair, nails, and skin. Others want a diet that has the lowest possible impact on the environment.
The competitive landscape section of the report discusses in detail the company overview, product and services portfolio, business expansion plans, production and manufacturing capacity, financial standing, and global market position. It further sheds light on the recent mergers and acquisitions, collaborations, partnerships, corporate and government deals, agreements, and product launches.
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The study also analyses the crucial market aspects, including RD, product launches and brand promotions, mergers and acquisitions, collaborations, joint ventures, and the growth pattern on both regional and global levels. The report offers an in-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends.
The industry has been growing steadily over the past decade and CAGR is expected to improve over the forecast period. It is also likely to be one of the industries influencing global revenue generation. Rapidly growing demand, an abundance of raw materials, population growth, financial stability, and product awareness are some of the factors that make progress directly and indirectly in the market.
Key Players:
Key participants include 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.
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Market Segmentation:
Product Type (Revenue, USD Million; 2018–2028)
- Dietary Supplements and Nutraceuticals
- Vitamins
- Botanicals
- Proteins
- Minerals
- Amino Acids
- Enzymes
- Others
- Functional Food
- Proteins
- Vitamins
- Fibers
- Fatty Acids
- Minerals
- Prebiotics Probiotics
- Carotenoids
- Functional Beverage
- Sports and performance drinks
- Smart drinks
- Digitalized DNA-based Diet
- Sports Nutragenomics
- Others
Dosage Forms (Revenue, USD Million; 2018–2028)
- Tablets
- Capsule
- Powders
- Liquids
- Others
Application (Revenue, USD Million; 2018–2028)
- Additional Supplements
- Medicinal Supplements
- Sports Nutrition
- Lifestyle Diseases
- Inherited Diseases
- Others
Tool type (Revenue, USD Million; 2018–2028)
- Genetic test kits,
- Food labels,
- Interactive apps,
- Portable gadgets
- Wearable
- Others
End Use Revenue, USD Million; 2018–2028)
- Hospitals
- Clinics
- Home Care
- Wellness fitness centers
- Ambulatory Care
- Others
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Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- Spain
- France
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Middle East and Africa (MEA)
Market-O-Nomics:
- North America is expected to hold the largest market share during the forecast period. The growing awareness among customers in North America is leading to an increased acceptance of products with high nutritional value. Technological advancements as well as an increase in the investments and collaborations by key players in the industry are the major factors that foster the demand in this region.
- The Asia-Pacific region is projected to grow at the highest CAGR of 14.8% during the forecast period. The major factors that are driving the growth in APAC regions are the prevalence of lifestyle disorders, inadequate nutrition and the increasing population of older people which is boosting up the retail trades of nutrition and health products. The rising awareness about healthy practices, increasing adoption of personalized diet plans, eating healthy foods, and improving health data tracking devices in the region offers an attractive opportunity for the countries operating in the area to enhance their business services.
- Based on Channels, the Direct-to-Consumer segment hold the largest share in the industry. Personalized nutrition for general health includes applications where the technology is being used for wellbeing and leading a healthy lifestyle. It includes a variety of individual goals which might be set by a customer, like losing weight or gaining muscle mass. Increase in health awareness and increase in disposable incomes is expected to positively affect industry growth.
Key Points Covered in the Report:
- Comprehensive analysis of latest and emerging trends influencing the growth of the market
- SWOT analysis of each major market player along with in-depth analysis of major market players with detailed portfolio of their products, production capacity, revenue estimation, and gross margin
- Market concentration, production and consumption ratio, demand supply analysis, and import/export
- Strategic recommendations to the new entrants as well as established companies to make beneficial business decisions
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