Nutrigenomics Market Overview:
The nutrigenomics industry is witnessing a wide-scale application of the study in several sectors owing to which an impressive growth is right on the cards. This growth in demand would help the nutrigenomics market attain a CAGR of 16.8% between 2017 and 2023, which has been declared by Market Research Future (MRFR) as the forecast period.
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With the growing demand for a study that discusses the connection between genes and nutrients, nutrigenomics is all set in its endeavor to grow and permeate across several sectors. For instance, its demand in the healthcare sector is growing as people are trying more to gain from their food to maintain a healthy lifestyle. In the food and beverage industry, this growth would be massive as market players are trying hard to yoke their products with maximum nutrients that can assist the consumer in leading a better life. Especially, the process is getting ample traction from several quarters as diabetes and obesity are fast becoming issues of great concerns. The study requires ample funding, which it is getting from various governments and private bodies but its growth in the developing regions is a bit sluggish owing to which the market may find a few halts to cover.
Nutrigenomics Market Competitive Analysis:
The global market for nutrigenomics has several players who can impact the growth process by launching their own strategic moves. These moves were monitored by MRFR in their latest report on the same to understand the flow of trends that can be of great importance. These companies are Metagenics, Inc (US), WellGen Inc. (US), Nutrigenomix (US), Genomix Nutrition, Inc. (US), XCODE Life Sciences Pvt. Ltd. (India), NutraGene (India), Cura Integrative Medicine (Australia), and others.
In December 2019, South African e-health startup 3X4 Genetics announced that they have raised US$2.5 million in Series A funding to ensure they can back up their expansion initiatives in the US and increase product offering.
Nutrigenomics Market Segmentation:
The global nutrigenomics market is witnessing a demand for a closer study that had led to a segmentation based on products, techniques, and applications. Such a detailed segmentation holds various nuances that can influence the market and insights that can help in developing strategies with promises of increased profit margin.
By products, the market for nutrigenomics has been segmented into reagents & kits and services. The reagents & kits segment can fetch better revenues in the coming years. The segment is the largest one and it can score past valuation of USD 10,138.7 million by 2023.
By techniques, the report on the nutrigenomics market has been segmented into blood, buccal swab, saliva, and others.
By application, the global report on the nutrigenomics market can be segmented into anti-aging, diabetes, obesity, and chronic diseases. The obesity segment can be a reliable source of revenues. It can achieve a revenue of 17.1% CAGR during the forecast period.
Nutrigenomics Market Regional Analysis
The global market would find a significant growth in the Americas and the latter would score a valuation of USD 6,316.4 million by 2023. The regional market would gain much from the presence of several market leaders and also, high cases of obesity and diabetes. In the region, the US would be the market leader as awareness is quite high regarding the nutrigenomics. Funding capacity is also quite high owing to which the market can transform substantially.
In Europe, the market would get growth opportunities that have a solid foundation in the research and development sector where the constant influx of investment is going to back the market. In addition, there are several countries with ample growth opportunities. For instance, countries like the UK, Germany, France, Spain, Italy, and others can make better use of the prospects received. The Asia Pacific market would witness growth in countries like Japan, Australia, India, China, and others. In fact, attention from global players can also boost the regional market.
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