North America dominates the personalized nutrition market and accounts for 43.88% of the global share and is expected to grow at a CAGR of 15.44% during the forecast period.
Europe is the second-largest market for personalized nutrition, with a market share of 26.89% and is expected to generate an incremental revenue of USD 2.17 billion.
The functional food industry comprises food, beverage, and supplement sectors and has experienced fast growth in recent years. It is estimated that the global food and beverages market is expected to grow at a CAGR of 17.01% during the forecast period.
The sports nutrigenomics market is expected to generate additional revenue of USD 1.98 billion in the forecast period with a growing CAGR of 19.99%
Due the COVID-19 outbreak, businesses have started to understand more about the requirements and needs of consumers. Hence the COVID-19 will continue to act as a significant driver for the personalized nutrition market in the long run.
Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product, form, application, end-user, and geography
Competitive Landscape – 5 key vendors and 24 other vendors
Dietary supplements and nutraceuticals products have high potential in the Asia Pacific region. This segment accounts for over 52% of the APAC market share due to the increasing health awareness and personalized health diet plans. The usage frequency of nutraceuticals in developed countries is nearly 50% to 70% and is majorly used by females.
The discovery of compounds such as vitamins, minerals, micronutrients, and other pigments has led to the advent of dietary supplements. It is growing at a CAGR of around 14% in the market. The aqueous coating solution is used to coat the tablets as it makes the tablet safe, protective, and easy to swallow, and the usage of this solution is booming in the supplements segment.
Consuming a nutritious diet is essential to maintain a healthy weight and attain the necessary nutrients for healthy body function. People are shifting toward personalized health advice as an individual can get dietary advice tailored explicitly according to the genotype to prevent and treat chronic diseases.
Personalized Nutrition Market by Product
Dietary Supplements & Nutraceuticals
Functional Foods & Beverages
Personalized Nutrition Market by Form
Personalized Nutrition Market by Application
Personalized Nutrition Market by End-User
Wellness & Fitness Centers
Hospitals & Clinics, Institutions
Personalized Nutrition Market – Dynamics
Digital technologies enable the smooth transmission of real-time data at greater convenience with less cost. Hectic lifestyles force people to indulge in unhealthy eating habits such as fatty foods and takeaways, which do not fulfill their nutritional requirements. Increasing awareness among people about health has led to the adoption of innovative technologies and products. Digital healthcare solutions help in improving individual health and wellness. Digital healthcare covers everything from wearables gadgets to ingestible sensors, from mobile health applications to artificial intelligence. The nutritional requirements and responses to dietary consumption could vary from person to person. Thus, healthcare professionals offer customized dietary recommendations through personalized digital tools such as mobile applications as people are looking for quick diagnosis, timely advice, treatment, and reassurance about adequate nutritional intake.
Key Drivers and Trends fueling Market Growth:
Consumer Inclination toward Healthy Lifestyles
Rise in Aging Population Worldwide
Advances in Personalized Nutrition Technologies
Growth Opportunities through Collaborations and Strategic Partnerships
Personalized Nutrition Market – Geography
North America is the largest regional market and accounted for a share of 43.88% in the global personalized nutrition market. The increasing health consciousness among consumers and rising demand for highly nutritious products are driving the adoption of personalized nutrition products in the region. People are facing lifestyle disorders due to changes in lifestyle and irregularities in nutrition consumption, which is also triggering the demand for personalized nutrition products. The market is expected to grow during the pandemic and the forecast period due to the growing use of nutritional products to maintain and improve the immune system. Furthermore, factors such as the increasing popularity of digital solutions and preference for customized diet plans are driving the growth of market.
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