Global Personalized Nutrition Market - Market Size & Forecast To 2032
The global personalized nutrition market has been estimated to reach a value of USD 14.76 billion in 2023 and is projected to grow at a CAGR of 16.20% during the forecast period. The increasing digital healthcare trend and changing customer preferences owing to growing health awareness are expected to drive the personalized nutrition market demand during the forecast period. Personalized nutrition plans use information about an individual’s genetic and metabolic characteristics to design a modified personalized nutrition plan with specific supplements and foods. Products of personalized nutrition include herbs and botanicals, vitamins, fatty acids, proteins, amino acids, minerals, fibers, and specialty carbohydrates, probiotics, and others comprising carotenoids, prebiotics, glucosamine. Such products are mainly used in overall immune function, health and wellness, bone health, heart health, joint health, digestive and gastrointestinal health, and other uses including, mental health and eye health.
A personalized nutrition method is based on nutrition advice for making dietary changes to improve health and reducing the risk of conditions like heart diseases, obesity, and type 2 diabetes. The rising aged population, evolving lifestyles in developing countries, growing disposable income of the people are some of the factors expected to drive the personalized nutrition market during the forecast period.
Consumers are more inclined towards on ready-to-eat foods, which is expected to hamper the personalized nutrition market. High cost of nutrition plans and dietary supplements are also expected to hinder the market growth. However, increasing health awareness among customers is leading to improved consumption of dietary supplements, which can create growth opportunities for market growth. Technological advancements and innovations are expected to drive growth opportunities for market growth during the forecast period.
The COVID-19 offered the personalized nutrition market a rough start, causing disruptions and delays across numerous nutrition supply chains. Trade shows were cancelled, and people chose virtual way to stay connected with the industries during these unprecedented times. However, supply chain is expected to flourish the market growth within the nutritional ingredients space and continue the demand in during the forecast period.
Based on product type, the personalized nutrition market is segmented into dietary supplements and nutraceuticals, functional food, functional beverage, digitalized DNA-based diet, sports nutrigenomics, and others. Among these segments, the sports nutrigenomics segment is expected grow at the highest CAGR during the forecast period. The major factors that can be attributed to segment growth are increased consumption of functional supplements for sports performance improvement, and weight management.
Based on application, the personalized nutrition market is segmented into standard supplements and disease based. The standard supplements segment is further bifurcated into health nutrition and sports nutrition and disease-based segment is further bifurcated into lifestyle and inherited. Among these segments, the standard supplements segment is expected to be the largest segment during the forecast period. The major factors contributing to segment growth are rising awareness about the overall health of individuals and increasing inclination towards standard supplements. People are becoming aware of nutrient requirements and deficiencies, which is a major factor that is anticipated to propel the demand for standard supplements segment growth.
Based on dosage form, the personalized nutrition market is segmented into tablets, capsule, powders, liquids, and others. Among these segments, the powder segment is expected to grow at the highest CAGR during the forecast period. The market growth can be attributed to the increasing accessibility of supplements and its products in powder form dosage.
Based on end user, the personalized nutrition market is segmented into direct-to-consumer, wellness and fitness centers, and hospitals and clinics. Among these segments the direct-to-consumer sector is expected to be the largest segment in 2021 and is anticipated to remain largest till forecast period. The growth can be attributed to changing customer preferences for nutrition-rich products available in the market to improve their health.
The lack of nutrients in the body can have a long-term impact, which has been worrying people over a period of time. Personalized nutrition offers solutions and methods to understand these problems and take steps accordingly. Due to these factors, the end user sector is expected to lead the market during the forecast period.
Based on region the personalized nutrition market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. North America is expected to be the largest segment during the forecast period. The growth can be attributed to increasing awareness among customer about their health. Major companies offering personalized nutrition are present in this region, contributing to regional market. Also, busier and hectic lifestyles have encouraged customers to opt for specialized dietary supplements that are personalized to their exact requirements.
Asia Pacific is estimated to observe fastest growth during the forecast period. The growth can be attributed to the growing geriatric patient pool, growing occurrence of lifestyle disorders, lack of nutrition, and increasing customer spending capacity in the region.
Europe is expected to grow with the highest CAGR during forecast period. The growth can be due to factors such as growing awareness among the population about wellness and health, a sedentary lifestyle on account of the emerging digital solutions, rapid urbanization, and the majority of the obese populace.
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