Reports and Data published a new report titled global Personal Nutrition Market research report that delivers a close watch on changing market trends as well as the size of individual segments, and overall industry outlook. The detailed elaboration of the global Personal Nutrition market has been provided by applying industry analysis techniques such as SWOT and Porter’s five-technique. Collectively, this research report offers a reliable evaluation of the global market to present the overall framework of businesses.
According to the current analysis of Reports and Data, the global Personal Nutrition Market was valued at USD 8,238.2 Million in 2020 and is expected to reach USD 24.29 Billion by the year 2028, at a CAGR of 14.3%. In the era of customization, the trend is profoundly changing the ways of consuming food. Personal Nutrition and diet fit in perfectly with people’s individual health goals. A Personal Nutrition approach is based on the idea that customizing nutrition advice or making dietary changes would significantly improve our health and lower the risk of conditions like obesity, type 2 diabetes, and heart disease. Some want tailored food to achieve great hair, nails, and skin. Others want a diet that has the lowest possible impact on the environment.
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Key participants include BASF SE, Caligenix, Care/of, DayTwo Inc., DNAFit, Genomix Nutrition, GX Sciences, Habit Food Personalized LLC, InsideTracker, Lonza, Metagenics, Inc, DSM, Nutrigenomix Inc., and Telomere Diagnostics
Further key findings from the report suggest:
- The key market players are adopting strategic initiatives such as expansion and collaboration, mergers and acquisitions, product development. For instance, Nestle utilized Japan’s aging population to launch its Personal Nutrition service
- In 2018, Nestle S.A. chose the aging population of Japan to launch its first Personal Nutrition service using a blend of artificial intelligence, DNA testing, and smartphone services. Today, they have around 100,000 users of the Nestle Wellness Ambassador program, which allows its users to send pictures of their food via the Line messaging app that then recommends lifestyle changes and specially formulated supplements. The program can cost about USD 600 a year for capsules that make nutrient-rich teas, smoothies, and other products such as vitamin-fortified snacks.
- The increase in the adoption rate of traditional medicine to treat various diseases has turned the Asia Pacific into a highly profitable market across the globe. Moreover, the region is characterized by a rising geriatric population, owing to which the demand for dietary supplements is expected to boost during the forecast period.
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Product Type (Revenue, USD Million; 2018–2028)
- Dietary Supplements and Nutraceuticals
- Amino Acids
- Functional Food
- Fatty Acids
- Prebiotics Probiotics
- Functional Beverage
- Sports and performance drinks
- Smart drinks
- Digitalized DNA-based Diet
- Sports Nutragenomics
Dosage Forms (Revenue, USD Million; 2018–2028)
Application (Revenue, USD Million; 2018–2028)
- Additional Supplements
- Medicinal Supplements
- Sports Nutrition
- Lifestyle Diseases
- Inherited Diseases
Tool type (Revenue, USD Million; 2018–2028)
- Genetic test kits,
- Food labels,
- Interactive apps,
- Portable gadgets
End Use Revenue, USD Million; 2018–2028)
- Home Care
- Wellness fitness centers
- Ambulatory Care
Regional Outlook (Revenue, USD Million; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa (MEA)
- North America is expected to hold the largest market share during the forecast period. The growing awareness among customers in North America is leading to an increased acceptance of products with high nutritional value. Technological advancements as well as an increase in the investments and collaborations by key players in the industry are the major factors that foster the demand in this region.
- The Asia-Pacific region is projected to grow at the highest CAGR of 14.8% during the forecast period. The major factors that are driving the growth in APAC regions are the prevalence of lifestyle disorders, inadequate nutrition and the increasing population of older people which is boosting up the retail trades of nutrition and health products. The rising awareness about healthy practices, increasing adoption of personalized diet plans, eating healthy foods, and improving health data tracking devices in the region offers an attractive opportunity for the countries operating in the area to enhance their business services.
- Based on Channels, the Direct-to-Consumer segment hold the largest share in the industry. Personal Nutrition for general health includes applications where the technology is being used for wellbeing and leading a healthy lifestyle. It includes a variety of individual goals which might be set by a customer, like losing weight or gaining muscle mass. Increase in health awareness and increase in disposable incomes is expected to positively affect industry growth.
Key Points Covered in the Report:
- Comprehensive analysis of latest and emerging trends influencing the growth of the market
- SWOT analysis of each major market player along with in-depth analysis of major market players with detailed portfolio of their products, production capacity, revenue estimation, and gross margin
- Market concentration, production and consumption ratio, demand supply analysis, and import/export
- Strategic recommendations to the new entrants as well as established companies to make beneficial business decisions
Thank you for reading this article. You can also get chapter-wise sections or region-wise report coverage for North America, Europe, Asia Pacific, Latin America, and Middle East Africa.
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