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.
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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 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 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.
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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.
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