The global personalized retail nutrition & wellness market size is expected to reach USD 2.76 billion by 2025, registering a CAGR of 9.5% from 2019 to 2025 according to a new report by Grand View Research, Inc. A rise in demand for general well-being and preventive health measures, focus on a healthy diet and eating, growing trend for customization in the food sector, ongoing activities in the nutrigenomics sector have enhanced the development of personalized nutrition products.
Concerns associated with the maintenance of a healthy lifestyle to gain optimum nutrition for disease prevention is on the rise. Factors responsible for these concerns include a sedentary lifestyle and a nutrient-deficient diet.
Start-up companies such as Habit Food Personalized, LLC; Food Marbel; and STYR are actively involved in the production and marketing of functional foods, and dietary supplements and nutraceuticals. Furthermore, the evolution of artificial intelligence-based algorithms to track health-related data regularly has led the small and large scale food and beverage manufacturers to develop customized programs.
Further Key Findings from the Report Suggest:
- Repeat recommendation occupied a major market share in 2018 and is expected to maintain its dominance throughout the analysis period
- A rise in the number of patients with obesity and cardiovascular diseases is expected to fuel the segment growth as they require regular monitoring
- Dietary supplements & nutraceuticals are predicted to be the fastest-growing sub-segment due to rise in concerns regarding lack of nutrition in diet of the general population
- Protein fixed recommendation dietary supplements accounted for the largest share for fixed recommendation dietary supplements & nutraceuticals due to higher market penetration of products in this segment
- Easy availability of fortified products and changes in regulatory structure for functional food products boosts the growth in this segment across all the three recommendations
- Protein source functional foods dominated the markets for fixed, repeat, and continuous recommendations owing to the high usage rate of protein-enriched foods amongst athletes
- With respect to the regional market, North America is estimated as the major source of revenue in 2018
- This is primarily due to well-established food and biotechnology sector in the U.S. coupled with the presence of a substantial number of personalized nutrition developing companies in this country
- Nima Labs, Inc.; Habit Food Personalized, LLC; Bayer AG; and Pfizer, Inc.; are some of the key players operating in personalized retail nutrition and wellness market
- These companies are focused on research activities for the development of customized nutrition and wellness solutions