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“Increase in consumer preferences due to the risein health awareness to drive the market growth for personalized nutrition.”
The global personalized nutrition market size is projected to grow from USD8.2billion in 2020 to USD 16.4billion by 2025, recording a compound annual growth rate (CAGR) of 15.0% during the forecast period. The increase in awareness pertaining to the benefits of consuming nutrients has encouraged consumers to opt for a more personalized approach. The growing awareness among consumers has led to an increase in acceptance of products with high nutritional value, whichis projected to drive the demand for personalized nutrition. In addition, technological advancements and the rise in investments and collaborations by key players in the personalized nutrition market are factors that are projected to provide growth opportunities for key players. However, the high cost of nutrition programs and dietary supplements is a key factor that is projected to hinder the growth of the market.
“The active measurement segment is projected to dominate the market during the forecast period.”
The active measurement segment is segmented as app, testing kit, and program. These usually provide personalized recommendations based on individual requirements. The growing demand for tools by consumers to obtain personalized dietary recommendations on the basis of nutrient, metabolic, and genetic profile is projected to drive the demand for testing kits, apps, and personalized programs. Thus, this segment is projected to dominate the market during the forecast period.
“The lifestyle segment is projected to grow at a higher growth rate during the forecast period.”
Dietary habits are one of the major factors responsible for lifestyle diseases. The changing lifestyle and irregularity in terms of the actual nutrients being consumed are factors that have led to an increase in lifestyle diseases,driving the demand for personalized nutrition.
“The direct-to-consumer segment is projected to grow at a higher growth rate during the forecast period.”
The direct-to-consumer segment is projected to grow at a higher rate during the forecast period due to the changing preferences among consumers pertaining to the nutritional products available in the market. In addition, an increase in the aging population in the homecare sector is projected to drive the demand for personalized solutions. The growing demand for premiumpersonalized nutrition products by consumers is projected to drive the growth of the personalized nutrition market.
“The North Americaregion is projected to dominate themarket during the forecast period.”
The Asia Pacificregionis projected to grow at the highest CAGR between 2019 and 2025.The rising urbanization, growing health awareness, and increasing disposable income among consumers are a few factors that are projected to drive the demand for personalized nutrition in the region. Countries such as Japan and South Korea will majorly contribute to the growth of the personalized nutrition market in Asia Pacific.
In-depth interviews were conducted with CXOs, managers, and key executives from various key organizations operating in the personalized nutrition market.
- By Value Chain: Manufacturers: 85%, Suppliers: 15%
- By Designation: Managers:45%, CXOs: 33%, and Executives: 22%
- By Region: North America: 60%, Europe: 18%, Asia Pacific: 10%,Rowe: 12%
The personalized nutrition marketcomprisesmajor players, such as Amway (US), BASF (Germany), DSM (Netherlands), DNAfit (UK), Wellness Coaches (US), Care/of (US), DNAlysis (South Africa), Zipongo (US), Nutrigenomix (US) and Atlas Biomed Group Limited (UK). The study includes an in-depth competitive analysis of these players in the personalized nutrition market, with their company profiles, recent developments, and key market strategies.
The study covers the personalized nutrition marketacross segments. It aims at estimating the market size and its growth potential across different segments, such asapplication, enduse, producttype,and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help market leaders/new entrants with information on the closest approximations of revenue numbers for the overall personalized nutrition market and subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.
- The report will also helpstakeholders understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.