Rise in concerns related to inadequate nutrition and expanding nutraceutical industry to drive the growth of global personalized nutrition market
According to TechSci Research report, “Global Personalized Nutrition Market By Dosage Form (Tablets, Capsule, Powders, Liquids, Others), By Product Type (Dietary Supplements and Nutraceuticals, Functional Food, Functional Beverage, Digitalized DNA-based Diet, Sports Nutrigenomics, Others), By Tool Type (Genetic test kits, Food labels, Interactive apps, Portable gadgets, Wearable, Others), By Application (Standard Supplements, Disease Based, Additional Supplements, Medicinal Supplements, Sports Nutrition), By Region, Forecast & Opportunities, 2025”, global personalized nutrition market expected to witness robust growth during the forecast period. Upsurge in the preference for high-quality nutritional food is one of the major factors accounting for the growth of global personalized nutrition market across the globe. Moreover, rising capability to track health data on daily basis using wearable solutions is expected to bode well for the growth of global personalized nutrition market through the forecast period. In addition to this, advancements in personalized medicine manufacturing industry is anticipated to positively influence the growth of global personalized nutrition market in the years to come. Also, surging innovations in metabolic profiling technologies has led to investigation of nutrition requirements of an individual, which in turn is anticipated to drive the development of personalized programs, thereby making headway for the growth of global personalized nutrition market across the globe. Along with this, growing geriatric population, is expected to positively contribute to the market growth over the next few years owing to the requirement for specialized diets and supplements. However, there are some factors such as requirement for well qualified physicians and safety considerations coupled with high cost of personalized nutrition products which might act as major impediments to the growth of global personalized nutrition market.
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Global personalized nutrition market can be segmented based on dosage form, product type, tool type, application, company, and region. Considering the product type, the market is fragmented into dietary supplements and nutraceuticals, functional food, functional beverage, digitalized DNA-based diet, sports nutrigenomics and others. The dietary supplements and nutraceuticals segment dominated the global personalized nutrition market in terms of largest market share until 2019 and is further anticipated to maintain its dominance during the forecast period as well, which can be accredited to high healthcare expenditure and utilization of advanced technologies for the production of dietary supplements. In terms of tool type, the market is categorized into genetic test kits, food labels, interactive apps, portable gadgets, wearable and others. Out of these, the genetic test kits segment is forecast to grow at a high rate in the years to come, owing to a sense of relief from uncertainty. Along with this, these provide information to help consumers make informed lifestyle decisions, which is anticipated to positively supplement the growth of segment until 2025.
BASF SE, Herbalife Nutrition Ltd., Amway, DNAfit, Wellness Coaches, Atlas Biomed Group Limited, Habit food personalized, LLC, Persona, Bactolac Pharmaceutical, Inc., Balchem Corporation, Zipongo, DNAlysis, Sanger Genomics Pvt Ltd., Mindbodygreen, BiogeniQ, Helix, Segterra, Metagenics, Inc., GX Sciences, Inc., Nutrigenomix are among others are the leading players operating in global personalized nutrition market. The players are adopting several growth strategies to enhance the market scenario of personalized nutrition. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, and collaborations; and expansions to diversify product portfolio in order to strengthen their market position.
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“North America is forecast to dominate the global personalized nutrition market until 2025 on account of rise in awareness among consumers about the importance of boosting their digestive health. Furthermore, high acceptance of plant-based diets supports the development of new vegetable based supplements, which is also anticipated to contribute to the growing trend. Additionally, increase in income of consumers in the region is leading to increased buying power, which is further expected to boost the market growth in the region over the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Personalized Nutrition Market By Dosage Form (Tablets, Capsule, Powders, Liquids, Others), By Product Type (Dietary Supplements and Nutraceuticals, Functional Food, Functional Beverage, Digitalized DNA-based Diet, Sports Nutrigenomics, Others), By Tool Type (Genetic test kits, Food labels, Interactive apps, Portable gadgets, Wearable, Others), By Application (Standard Supplements, Disease Based, Additional Supplements, Medicinal Supplements, Sports Nutrition), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global personalized nutrition market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global personalized nutrition market.