Dublin, Dec. 08, 2020 (GLOBE NEWSWIRE) -- The "Personalized Nutrition Market Size, Share & Analysis, By Type, By Application, And By Channel, Forecasts To 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Personalized Nutrition Market size is estimated to reach USD 16.6 Billion from USD 3.7 Billion in 2019, delivering a CAGR of 13.6% through 2027.
The market growth is driven by rising health awareness, a paradigm shift towards a personalized approach towards nutrition, and growing demand for customized diet plans specific to personal requirements.
The growing prevalence of lifestyle diseases, expansion of the geriatric population base, and growing awareness regarding the health benefits of diet modification are propelling market growth.
A personalized nutrition approach is based on nutrition advice for making dietary changes in order to improve health, along with lowering the risk of conditions like type 2 diabetes, heart diseases, and obesity. With the rapid urbanization, the lifestyle of the common man is changing and becoming more sedentary. Consumers are relying heavily on ready-to-eat food, which is leading to hampered nutrition. However, the growing health awareness among consumers is leading to increased consumption of dietary supplements. For instance, A Consumer Survey on Dietary Supplements in 2017 estimated that 76% of U.S. adults take dietary supplements. A similar trend is poised to bolster personalized nutrition market growth through 2027.
The ongoing breakthroughs and growth in personalized nutrition are resulting in a greater appreciation for healthier foods and better fitness, increased demand for customized health experiences, and a high adoption rate of wearable solutions to track health data on a daily basis. The increasing consumer inclination towards science-based and data-driven nutritional solutions tailored to reach specific health goals is likely to foster personalized nutrition market share through 2027.
Further key findings from the report suggest
- Based on type, the active measurement tools segment is estimated to witness a growth rate of 14.66% through 2027. Testing kits, applications, wearables, and other such devices are some commonly adopted active measurement tools. Wearable devices are witnessing maximum demand on account of their holistic approach and a more accurate depiction of the health and physical activity of users.
- Based on application, the sports segment is forecast to exhibit a CAGR of 15.85% over the analysis period on account of increased consumption of functional supplements for weight management and sports performance improvement.
- Based on channel, the wellness & fitness centers segment is estimated to witness a notable growth rate of 14.15% through 2027 on account of an increased level of care and interest in health among consumers resulting in sustained popularity of fitness and wellness centers like gyms.
- In the regional landscape, North America accounted for 44.56% of the personalized nutrition market share in 2019 and is anticipated to account for a significant revenue share through 2027 due to growing consumer awareness regarding the benefits of personalized nutrition.
- Europe accounted for 27% of the personalized nutrition market share in 2019 and is anticipated to exhibit a growth rate of 3% over the projected timeframe. The robust growth can be attributed to the emerging digital health solutions in the region.
- The Asia Pacific region is estimated to witness the fastest growth rate of 14.8% through 2027 on account of the growing prevalence of lifestyle disorders, expanding geriatric patient pool, inadequate nutrition, and increasing consumer spending capacity in the region.
- Key players operating in the global personalized nutrition market include BASF SE, Care/of, Caligenix, DayTwo Inc., Genomix Nutrition, DNAFit, GX Sciences, InsideTracker, Habit Food Personalized LLC, Lonza, DSM, Nutrigenomix Inc., Telomere Diagnostics, and Metagenics, Inc, among others.
- Industry players are adopting several strategies such as mergers, collaborations, acquisitions, capacity expansion, and new product development, thereby supporting the overall growth of the market. For instance, in September 2020, Bayer AG, one of the largest pharmaceutical companies in the world, acquired an online vitamin and supplement providing company, Care/of, in efforts to expand its nutrition and wellness portfolio.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Personalized nutrition Market Segmentation & Impact Analysis
4.1. Personalized nutrition Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Change in consumer preference due to rising aging population
4.2.2.2. The growing trend towards digital healthcare
4.2.3. Market restraints analysis
4.2.3.1. High Cost associated with Dietary Supplements and Nutrition Plans
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Chapter 5. Personalized nutrition Market By Type Insights & Trends
5.1. Type Dynamics & Market Share, 2019 & 2027
5.2. Nutrition
5.2.1. Market estimates and forecast, 2017 - 2027 (USD Billion)
5.2.2. Market estimates and forecast, By Region, 2017 - 2027 (USD Billion)
5.2.3. Active measurement tools
5.2.4. Services
Chapter 6. Personalized nutrition Market By Channel Insights & Trends
6.1. Channel Dynamics & Market Share, 2019 & 2027
6.2. Direct to consumer
6.3. Wellness & Fitness Centres
6.4. Hospitals & Clinics
Chapter 7. Personalized nutrition Market By Application Insights & Trends
7.1. Application Dynamics & Market Share, 2019 & 2027
7.2. General Health
7.3. Medical
7.4. Sports
Chapter 8. Personalized nutrition Market Regional Outlook
Chapter 9. Competitive Landscape
9.1. Market Revenue Share By Manufacturers
9.2. Manufacturing Cost Breakdown Analysis
9.3. Mergers & Acquisitions
9.4. Market positioning
9.5. Strategy Benchmarking
9.6. Vendor Landscape
Chapter 10. Company Profiles
- BASF SE
- Nutrigenomix
- Metagenics
- DayTwo
- Viome
- Amway
- Herbalife
- Bayer AG
- DNAFit
- DSM
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