Jul 12, 2022, 09:00 ET
Rise in popularity of nutritional guidance based on individual needs and surge in obesity and unhealthy people due to fast-paced lifestyle have boosted the growth of the global personalized nutrition market.
PORTLAND, Ore., July 12, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Personalized Nutrition Market by Product Type (Active Measurement, Standard Measurement), by Application (Standard Supplement, Disease Based), by End Use (Direct-to-Consumer, Wellness and Fitness Centers, Hospital and Clinics, Institutions): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global personalized nutrition industry was pegged at $14.6 billion in 2021, and is expected to reach $37.3 billion by 2030, growing at a CAGR of 11.48% from 2022 to 2030.
Drivers, restraints, and opportunities
Rise in popularity of nutritional guidance based on individual needs and surge in obesity and unhealthy people due to fast-paced lifestyle have boosted the growth of the global personalized nutrition market. Furthermore, shift in consumer trends such as preference for high-quality nutritional food based on their nutrient profile would open new opportunities in the future.
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- During the pandemic, the market for personalized nutrition witnessed positive growth as many consumers considered them as defense against chronic health conditions including cardiovascular disease, hypertension, and diabetes.
- The increased cases of Covid-19 patients across the globe boosted the investment in R&D. moreover, surge in demand for minerals, vitamins, and supplements as well as focus toward improving immunity and health increased during the pandemic. This supplemented the market growth.
The active measurement segment dominated the market
By product type, the active measurement segment held the largest share in 2021, accounting for around two-thirds of the global personalized nutrition market. In addition, the segment is expected to register the highest CAGR of 11.72% during the forecast period, owing to growing health awareness among the consumers. The report includes analysis of the standard measurement segment.
The wellness and fitness centers segment to manifest the highest CAGR through 2030
By end use, the wellness and fitness centers segment would showcase the highest CAGR of 11.88% from 2021 to 2030, due to increasing number of a fitness center and product availability. The direct-to-consumer segment held the largest share in 2021, contributing to nearly two-fifths of the global personalized nutrition market.
North America held the largest share
By region, the global personalized nutrition market across North America held the lion's share in 2021, accounting for more than two-fifths of the market. However, the market across Asia-Pacific would showcase the highest CAGR of 12.76% from 2022 to 2030, owing to growing number of wellness & fitness centers and product penetration.
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Major market players
- BASF SE
- Herbalife Nutrition
- Wellness Coaches
- Atlas Biomed
- Habit, LLC
- Bactolac Pharmaceutical
- Balchem Corporation
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