A major factor driving the personalized nutrition market is the growing popularity of receiving nutritional guidance based on individual needs. Personalized nutrition is expected to gain traction as the number of obese and unhealthy people rises, as do busy and unhealthy eating habits. Personalized nutrition is a diet that is recommended to meet specific nutritional needs of individuals. Personalized nutrition can also reveal a detailed history of a person's metabolism, environmental exposure, genetic profile, personal wellness goals, and microbiome composition.
Companies that are emerging in the personalized nutrition industry are already leading market players in terms of customer innovation. For example, in March 2018, BASF SE, a German chemical company, announced the launch of personalized nutrition solutions under the brand name 'Newtrition.' The solutions' main goal is to provide personal health assessments that include an omega-3 index. Similarly, the company provides a variety of nutrition solutions and brands that reduce the risk factor in chronic diseases. Such personalized nutrition benefits are expected to boost market revenue over the forecast period.
Despite growing demand for personalized nutrition for health, some major factors that hampers the market growth are its high cost, that are expected to hamper the growth of personalized nutrition market.
Furthermore, several market players are continuously implementing various initiatives such as business expansion and collaborations to gain a major position in the overall marketplace. For instance, Herbalife Nutrition, a US based company, on October 2019 announced that they have launched new immunity essentials and relaxation tea that is used to meet the nutrition demand in the body. This will strengthen the company’s product portfolio for personalized nutrition. Also, DSM, a science-based company in Nutrition, on November 2019 acquired AVA (Boston, MA). This acquisition will offer digital personalized nutrition platform and nutritionists across the wellness and health segments. Presence of global players such as DSM that are following strategies such as acquisition, partnership and product innovation will ultimately drive the market of personalized nutrition.
The global personalized nutrition market is segmented on the basis of product type, application, end-use, and region. By product type, the market has been divided into active measurement and standard measurement. By application, the market has been divided into standard supplements and disease based. By end-use, the market is divided into direct-to-consumer, wellness & fitness center, hospitals & clinics, and institutions. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include BASF SE, DSM, Herbalife Nutrition, Amway, DNAfit, Wellness Coaches, Atlas Biomed, Habit, LLC, Bactolac Pharmaceutical, and Balchem Corporation.
Key Market Segments
By Product Type
- Active Measurement
- Standard Measurement
By Application
- Standard Supplement
- Disease Based
By End Use
- Direct-to-Consumer
- Wellness and Fitness Centers
- Hospital and Clinics
- Institutions
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- BASF SE
- DSM
- Herbalife Nutrition Ltd
- Amway
- DNAfit
- wellness coaches usa
- Atlas Biomed Group Limited
- Habit, LLC
- Bactolac Pharmaceutical
- Balchem Corporation
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Table of Contents
Executive Summary
According to the report, titled, “Personalized Nutrition Market," the personalized nutrition market size was $14.6 billion in 2021, and is estimated to reach $37.3 billion by 2030, growing at a CAGR of 11.48% from 2022 to 2030.Almost every individual responds differently to diet, which is primarily related to the uniqueness of lifestyle, microbiome, and genetics. Personalized nutrition is a method of providing recommendations for healthy diet plans, products, and services. Furthermore, personalized nutrition is applicable to both healthy people and patients.
The rising demand for personalized solutions as a result of rising health awareness, the growing trend of digital solutions for healthcare, and the ageing population across regions are some of the major factors expected to contribute to market growth during the forecast period. Furthermore, shifting consumer trends, such as a preference for high-quality nutritional food based on their nutrient profile, are expected to encourage the development of personalized nutrition approaches, contributing to market growth.
The global personalized nutrition industry is segmented on the basis of product type, application, end-use and region. By product type, the market has been divided into active measurement and standard measurement. By application, the market has been divided into standard supplements and disease based. By end-use, the market is further divided into direct-to-consumer, wellness & fitness center, hospitals & clinics, and institutions. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include BASF SE, DSM, Herbalife Nutrition, Amway, DNAfit, Wellness Coaches, Atlas Biomed, Habit, LLC, Bactolac Pharmaceutical, and Balchem Corporation.
The report focuses on the global personalized nutrition market trends, personalized nutrition market growth, and personalized nutrition market share for each segment, region, and country. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on personalized nutrition market demand in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL PERSONALIZED NUTRITION MARKET
- During the COVID-19 pandemic, the global market for personalized nutrition is expected to grow rapidly. This increase is the result of increased awareness about physical health in order to boost immunity to combat the deadly virus. As a result, it is expected that demand for personalized nutrition will rise.
- Furthermore, certain key vendors in personalized nutrition are implementing new strategies and innovations to stay ahead of the competition. For example, Elderberry Boost, LLC, a US-based wellness and fitness company, announced in August 2020 that they have launched various supplements, gummies, and powders that boost the body's immunity. All of these factors are expected to have a positive impact on the global personalized nutrition market during the pandemic.
- People are using virtual guidance for personalized nutrition as a result of the COVID-19 pandemic. During the forecast period, these factors are expected to create lucrative investment opportunities in the market.
Key Findings of the Study
- On the basis of product, the active measurement personalized nutrition sub-segment emerged as the global leader in 2021 and is anticipated to have the largest market share during the forecast period.
- On the basis of application, the standard supplement sub-segment emerged as the global leader in 2021 and is anticipated to have the largest market share during the forecast period.
- On the basis of end-use, the direct-to-consumer sub-segment emerged as the global leader in 2021 and is anticipated to have the largest market share during the forecast period.
- On the basis of region, Asia-Pacific is projected to have the fastest growing market during the forecast period.
Companies Mentioned
- Basf Se
- Dsm
- Herbalife Nutrition Ltd
- Amway
- Dnafit
- Wellness Coaches Usa
- Atlas Biomed Group Limited
- Habit, LLC
- Bactolac Pharmaceutical
- Balchem Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 180 |
Published | June 2022 |
Forecast Period | 2021 - 2030 |
Estimated Market Value ( USD | $ 14612.1 million |
Forecasted Market Value ( USD | $ 37286.9 million |
Compound Annual Growth Rate | 11.0% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |