The research study on the Personalized Nutrition Market – Global Outlook and Forecast 2023-2028, recently published by Arizton Advisory & Intelligence, states that the market will grow at a CAGR of 16.61% during 2022-2028.
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Urbanization is a prominent reason for the growing demand for personalized nutrition solutions in developing and developed countries. Rapid urbanization has created better job opportunities for people, improved their living standards, and increased per capita disposable incomes. Urbanization also leads to a change in end-users sociological profile and transforms a place’s demography and sociography. Therefore, urbanization is predicted to increase the market potential for the personalized nutrition market in the upcoming years.
Personalized Nutrition Market Report Scope
|Market Size (2028)||USD 24.08 Billion|
|Market Size (2022)||USD 9.58 Billion|
|Market Segmentation||Product, Form, Application, End-User, and Geography|
|Geographic Analysis||North America, Europe, APAC, Latin America, and Middle East & Africa|
|Countries Covered||The US, Canada, Germany, France, the UK, Italy, Spain, Norway, Sweden, Finland, Denmark, Belgium, Switzerland, Russia, China, Japan, South Korea, Australia, India, Malaysia, Singapore, Indonesia, South Africa, Turkey, Saudi Arabia, the UAE, Israel, Brazil, Mexico, and Colombia|
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Personalization Shaping the Food & Healthcare Industry
The nutraceuticals and functional foods markets have witnessed significant growth in recent years. Personalized nutrition is a diet recommendation offered to consumers per their nutritional requirements. Also, these dietary recommendations are based on consumers’ genetic profiles, metabolism, microbiome composition, and personal wellness goals. Increasing demand for healthier lifestyles, specific food choices, and preventive health measures with tailored food and medicine industries are driving the growth of the global personalized nutrition market.
Various food companies, such as Nestle and Amazon Fresh, have started offering personalization to consumers. Nestle Health Science has recently partnered with Persona, which helps develop personalized nutrition plans based on consumer history, lifestyle, and food preferences. Amazon Fresh has collaborated with Habit, a personalized nutrition organization that offers optimal nutrition and delivers customized nutrition plans to consumers. Researchers from industry and academia collaborate to run comprehensive studies such as PREDICT, which aims to decipher individual responses to food and make future predictions accordingly.
Growth Opportunities Through Collaborations and Strategic Partnerships Impacting the Market Evolution
Personalized nutrition is an emerging trend as consumers are willing to pay for personalized nutrition. In a collaborative partnership, people and organizations from multiple sectors work together for a common purpose, a prominent strategy for community health improvement. The traditional approach of “one-size-fits-all is becoming less relevant as consumers expect customization of products.
The R&D initiatives in personalized nutrition involve collaborative innovation as personalized nutrition requires technologies such as data tracking and collection to obtain individual health data. With these technologies, an individual’s health data could be obtained, and by vast data accumulation, the individual health database and standards could be established. Therefore, many players collaborate with material suppliers, scientific research institutions, medical institutions, and other stakeholders to build a personalized nutrition industry alliance and integrate R&D, production, and education.
Product: Dietary Supplements & Nutraceuticals, Functional Foods & Beverages, Sports Nutrigenomics, and Digitized DNA
Form: Tablets, Capsules, Powders, Liquids, and Others
Application: Standard Supplement, Diseased-Based, and Sports Nutrition
End-User: Direct-to-consumers, Wellness & Fitness Centers, Hospitals & Clinics, Institutions, and Others
Geography: North America, Europe, APAC, Latin America, and Middle East & Africa
The personalized nutrition market is characterized by intense competition, with numerous players vying for market share. The rapid pace of technological advancements poses challenges for vendors as consumers increasingly expect continuous product upgrades. Currently, the market is dominated by vendors with a global presence. However, during the forecast period, many international players are anticipated to expand their reach worldwide, particularly in the fast-growing markets of the Asia-Pacific (APAC) region and Latin America, to enhance their market share.
Leading the personalized nutrition market are prominent players such as BASF SE, Herbalife Nutrition, DSM, Nutrigenomix, and Amway, who possess a strong market presence. These major vendors are proactively adopting innovative technologies to maintain their market position. For instance, Nutrigenomix introduced a 70-gene test for personalized nutrition in 2020. This expanded panel complements the biohacking toolkit, empowering dietitians to provide DNA-based dietary recommendations tailored to specific requirements and goals.
Key Company Profiles
- Herbalife Nutrition
- BASF SE
- Atlas Biomed
- Bactolac Pharmaceutical
- Wellness Coaches
- Helix & Gene
- GX Sciences
- Supp Nutrition
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