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Personalized Nutrition Market: Current Analysis and Forecast (2021-2027)

SKU ID : UMI-19274201 | Publishing Date : 07-Oct-2021 | No. of pages : 162

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Personalized nutrition market is expected to grow at a CAGR of ~12% during the forecast period to reach market size of more than US$19 billion by 2027. Personalized nutrition comprises the tailoring of dietary advice for the improvement of health, based on individual body characteristics. The tailoring of dietary advice is done based on a person’s eating habits and weight to their genetics and cholesterol levels. The overall objective of personalized nutrition is to preserve health by using genetic, medical, phenotypic, and nutritional information about individuals to deliver more specific healthy eating guidance and other nutritional products and services. A balanced diet supports good health as it delivers enough energy, proteins, vitamins, minerals, essential fats, micro, and macronutrients for the metabolic needs of the body. The absence of nutrition and balanced food leads to health problems such as obesity, diabetes, and malnutrition. Nearly half of all deaths in children under 5 occur due to undernutrition. Undernutrition puts children at a higher risk of dying from common infections, surges the severity and frequency of such infections, and delays recovery. As per WHO, globally in 2020, 149 million children under 5 were estimated to be stunted (too short for age), 45 million were estimated to be wasted (too thin for height), and 38.9 million were overweight or obese.
Insights Presented in the Report
“Amongst Type, Active Measurement segment holds the major share.”
Based on Type, the market is fragmented into Active measurement and Standard measurement. The Active measurement segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. Active measurement tools consist of testing kits, apps, and programs. These generally provide a more accurate and customizable nutrient profile based on an individual’s requirements.
• In June 2020, ZOE launched a test kit and app that uses artificial intelligence (AI) to develop personalized eating plans based on a person’s unique gut microbes and dietary inflammation.
• In January 2020, a US-based Baze company recently received its approval from the US Food and Drug Administration (FDA) for its at-home blood collection process, which permits customers to assess their blood nutrient status.
• Furthermore, Mako Medical Laboratories has developed a genetic test targeted at nutrition performance and customized meal plans, created to help consumers know exactly what their body needs and what foods should be eaten to optimize performance.
“Amongst Application, Standard Supplements segment holds the major share.”
Based on Application, the market is fragmented into Standard supplements and Disease-based. The standard supplements segment dominated the market in 2020 and is expected to grow at lucrative during the forecasted period. The increasing awareness and changing preferences about the overall health of individuals have led to a surge in the number of people opting for standard supplements. According to the World Health Statistics 2021 report, the average life expectancy (LE) and Healthy life expectancy (HALE) in 2019 have increased significantly since 2000.
“Amongst End-use, Direct-to-Consumer segment is anticipated to grow at the highest CAGR during the analyzed period.”
Based on End-use, the market is fragmented into Direct-to-consumer, Wellness & Fitness centers, and Hospitals & Clinics. The Direct-to-consumer segment holds the largest share in 2020 and is expected to register the highest CAGR in the upcoming period due to the changing preferences of consumers for nutrition-rich products for the enhancement of their health. The rising consumer acceptance of personalized nutrition mainly depends on the interplay of its benefits and risks. The rising knowledge of the relationship between nutrition and genes mainly drives consumer acceptance. As per the Nielsen (2017) report, around 64% of the consumers follow dietary restrictions, either for personal or medical reasons. Nowadays, consumers are more concerned about diet that prevents the onset of diseases and improves their health. Hence, consumers are preferring personalized nutrition plans and according to the while Mintel report, 42% of UK consumers prefer a personalized diet based on their genetic information.
“North America signifies one of the largest markets and is expected to be the fastest-growing markets of Personalized Nutrition market.”
For a better understanding of the market adoption of Personalized Nutrition, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America will dominate the Personalized Nutrition market on account of the rising health awareness. In addition, the rising obesity rates in the regions and hectic schedules are encouraging consumers to opt for specialized dietary supplements. Moreover, the rise in disposable income, increasing adoption of smartphones, advancements in coverage networks, and a surge in demand for telehealthcare services also drive the market growth. As per the survey conducted by Pew Research Center in the U.S (2021) 97% of Americans own a cellphone and about three-quarters of U.S. adults now own a desktop or laptop computer. Some of the major players operating in the market include Amway, BASF, DSM, Herbalife Nutrition Ltd, DNA fit, Nutrigenomix, Zipongo, Viome, Habit, and Atlas Biomed Group Limited. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.
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• Deep dive regional level analysis of the industry
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