The Worldwide Personalized Nutrition Industry is Projected to Reach $23.3 Billion by 2027: Shift in Consumer Preferences due to Rise in Health Awareness Drives Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 15, 2022--
The “Personalized Nutrition Market by Product Type (Active Measurement and Standard Measurement), Application, End Use (Direct-to-Consumer, Wellness & Fitness Centers, Hospitals & Clinics, and Institutions), Form and Region - Global Forecast to 2027” report has been added to ResearchAndMarkets.com’s offering.
The global personalized nutrition market size is estimated to be valued at USD 11.3 Billion in 2022. It is projected to reach USD 23.3 Billion by 2027, recording a CAGR of 15.5%, in terms of value.
By product type, active measurement is projected to account for the largest market share during the forecast period
Based on product type, the active measurement segment is projected to account for the largest share of the market during the forecast period. Rising health concerns have encouraged people to adapt to personalized and specific diets, such as keto, paleo, and plant-based diets, which are projected to drive the demand for personalized nutrition programs. Moreover, changing lifestyle patterns have led adults to use apps for personalized nutrition. These factors are projected to drive the demand for active measurement tools in the personalized nutrition market.
By application, the standard supplements segment is forecasted to account for the largest market share during the review period
Shifting consumer demands are encouraging health-enriching choices, which provide an opportunity to develop personalized solutions for addressing health issues. Consumers seek to obtain tailor-made solutions as a part of their daily routine. With the changing consumer preferences, the demand for dietary, nutritional, and food-based supplements is projected to remain high.
By end use, the direct-to-consumer segment is forecasted to account for the largest share in the market
Consumers are becoming aware of their body type and are curious to know about the solutions available. The adaptability among consumers for personalized nutrition and changing requirements are some of the major factors that are projected to drive the growth of the direct-to-customer segment in the personalized nutrition market.
By form, the tablets segment is forecasted to account for the largest market share during the review period
The compressibility of tablets ensures that they can hold more nutrients than a capsule while being compact and providing long-lasting benefits. Moreover, tablets can be crushed and mixed into a drink for those who cannot swallow pills. These factors drive the growth of the segment in the global personalized nutrition market.
North America is projected to account for the largest share in the personalized nutrition market during the forecast period
The rising incomes in North America will contribute to the increasing buying power of consumers, which, in turn, will enable them to purchase personalized diets according to their preferences. The region is witnessing increased obesity rates, which is further projected to drive the demand for personalized nutrition. Hectic and busier lifestyles have encouraged consumers in the region to move toward dietary supplements tailored to their specific needs.
- Shift in Consumer Preferences due to Rise in Health Awareness
- Rising Geriatric Population
- Growing Trend of Digital Healthcare
- Increasing Obesity Rates Worldwide
- High Cost of Personalized Testing and Nutrition Plans
- High Cost of Personalized Supplements
- Increasing Innovations and Advancements in Technologies
- Collaborations and Strategic Partnerships Present Growth Opportunities for Manufacturers
- Consumer Awareness About Micronutrient Deficiencies
- Stringent Regulatory Policies
- Atlas Biomed Group Limited
- Balchem Corporation
- Basf Se
- Biogeniq Inc.
- Daytwo Inc.
- Gx Sciences, Inc.
- Herbalife Nutrition Ltd.
- Metagenics, Inc.
- Mindbodygreen LLC.
- Persona Nutrition
- Segterra, Inc.
- Viome Life Sciences, Inc.
- Wellness Coaches Usa, LLC.
- Welocity Genetics Pvt Ltd.
- Zipongo, Inc.
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INDUSTRY KEYWORD: FITNESS & NUTRITION HEALTH
SOURCE: Research and Markets
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PUB: 12/15/2022 11:16 AM/DISC: 12/15/2022 11:17 AM