The Growth In Personalized Nutrition
Personalized Nutrition: New Product Launches to Raise Market Demand
Article by: Avinash Dhanwani
Global personalized nutrition industry is witnessing considerable growth owing to the rising healthcare expenditure amongst the population. A personalized nutrition plan, otherwise known as customized nourishment approach depends on the possibility that by customized nutrition counsel by the nutritionists and various other dietary experts to bring out dietary improvements in order to optimize and improve our health and wellbeing and thus minimizing the risks of diseases like obesity, heart disease and type 2 diabetes.
As per the report published by The Brainy Insights, The global personalized nutrition market is expected to grow from USD 0.98 billion in 2020 to USD 3.56 billion by 2030, at a CAGR of 9.6% during the forecast period 2021-2030.
North America is dominating the market with the market value of USD 364.5 Million in 2020. The regional growth is attributed due to the substantial number of organizations in the nutrition industry along health institutes in the U.S. Moreover, usage of the FDA approved ingredients for the manufacturing and production of the functional food products is going to stimulate the regional market growth.
Asia Pacific is expected to grow at the highest CAGR over the forecast period owing to increasing awareness about the diseases coupled with rising healthcare expenditure.
Leading companies in the industry include BASF SE, Caligenix, Care/of, DayTwo Inc., DNAFit, Genomix Nutrition, Inc. (GX Sciences, Inc.), Habit Food Personalized, LLC, InsideTracker (Segterra), Lonza, Metagenics, Inc., Mixfit Inc. (DSM), Nutrigenomix Inc., Telomere Diagnostics, Inc. (TeloYears), Orig3n, Pure Encapsulations, SDC Nutrition Inc., STYR LABS, Vitagene, Vitamin Packs, Inc. and Zipongo among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
For instance in 2018, Nestle S.A. chose the aging population of Japan to launch its first personalized nutrition service using a blend of artificial intelligence, DNA testing and smartphone services.
The recommendation segment is divided into standalone fixed, continuous and repeat.
The repeat recommendation segment dominated the market in 2020. The segmental growth is attributed to custom set nutritional plans by the dietitians and nutritionists for a healthy state of being. The supplements segment includes dietary supplements & nutraceuticals and functional foods. The dietary supplements & nutraceuticals segment dominated the market in 2020. The segment growth is attributed owing to the increasing adoption and acceptance rate of the supplements.
By dosage, the market is segmented into tablets, capsules, powder and liquids. The powder segment is going to have the highest growth during the forecast period. The segment growth is mainly attributed due to the increasing availability of supplements and its products in powder form.
The increasing demand for organic and natural food products is the primary factor for market growth and development.
Organic food is different from conventionally and traditionally grown food because organic food is grown under a natural system of agriculture, without the usage of synthetic pesticides and fertilizers. Natural food products are made from organically produced raw materials. The rise in popularity of these products is the result of the increasing awareness with regard to the health benefits of organic food.
About the author: Avinash Dhanwani is a Research Director, Brainy Insights Private Limited, monitoring & engaging with latest innovations and market development in the beauty and cosmetics industry.
