Global Personalized Nutrition Market Report to 2030 - Players Include BASF, DSM, Herbalife Nutrition and Amway Among Others - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 18, 2022--
The "Personalized Nutrition Market By Product Type, By Application, By End Use: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global personalized nutrition market was valued at $14,612.1 million in 2021 and is projected to reach $37,286.9 million by 2030, growing at a CAGR of 11.48% from 2022 to 2030.
A major factor driving the personalized nutrition market is the growing popularity of receiving nutritional guidance based on individual needs. Personalized nutrition is expected to gain traction as the number of obese and unhealthy people rises, as do busy and unhealthy eating habits. Personalized nutrition is a diet that is recommended to meet specific nutritional needs of individuals. Personalized nutrition can also reveal a detailed history of a person's metabolism, environmental exposure, genetic profile, personal wellness goals, and microbiome composition.
Companies that are emerging in the personalized nutrition industry are already leading market players in terms of customer innovation. For example, in March 2018, BASF SE, a German chemical company, announced the launch of personalized nutrition solutions under the brand name 'Newtrition.' The solutions' main goal is to provide personal health assessments that include an omega-3 index. Similarly, the company provides a variety of nutrition solutions and brands that reduce the risk factor in chronic diseases. Such personalized nutrition benefits are expected to boost market revenue over the forecast period.
Despite growing demand for personalized nutrition for health, some major factors that hampers the market growth are its high cost, that are expected to hamper the growth of personalized nutrition market.
Furthermore, several market players are continuously implementing various initiatives such as business expansion and collaborations to gain a major position in the overall marketplace. For instance, Herbalife Nutrition, a US based company, on October 2019 announced that they have launched new immunity essentials and relaxation tea that is used to meet the nutrition demand in the body.
This will strengthen the company's product portfolio for personalized nutrition. Also, DSM, a science-based company in Nutrition, on November 2019 acquired AVA (Boston, MA). This acquisition will offer digital personalized nutrition platform and nutritionists across the wellness and health segments. Presence of global players such as DSM that are following strategies such as acquisition, partnership and product innovation will ultimately drive the market of personalized nutrition.
Key Market Segments
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
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- BASF SE
- DSM
- Herbalife Nutrition Ltd
- Amway
- DNAfit
- wellness coaches usa
- Atlas Biomed Group Limited
- Habit, LLC
- Bactolac Pharmaceutical
- Balchem Corporation
For more information about this report visit https://www.researchandmarkets.com/r/mx6jfa
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KEYWORD:
INDUSTRY KEYWORD: FITNESS & NUTRITION HEALTH
SOURCE: Research and Markets
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