Personalized Nutrition Market Estimated to Surpass $37,286.9 Million and Grow at 11.48% CAGR in 2022-2030 [215-Pages] | Research Dive
Personalized nutrition market is expected to grow by 2030 due to people's growing health concern. The disease based sub-segment is predicted to be highly profitable. Market in the North America region is expected to have more growth opportunities.
NEW YORK, June 29, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Personalized Nutrition Market by Product Type (Active Measurement and Standard Measurement), Application (Standard Supplement and Disease Based), End-use (Direct-to-consumer, Wellness & Fitness Centers, Hospital & Clinics, and Institutions), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030".
According to the report, the global personalized nutrition market is estimated to garner a revenue of $37,286.9 million by 2030, growing at a stable CAGR of 11.48% during the forecast period 2022-2030.
Dynamics of the Personalized Nutrition Market
Drivers: Rising strategic alliances among market players and growing health concern among people are the prime factors anticipated to drive the growth of the global personalized nutrition market during the analysis years. In addition, increasing demand for customized solutions and growing geriatric population across the world are also expected to boost the market growth by 2030.
Opportunities: Increasing R&D activities to develop latest technology devices for personalized nutrition along with the utilization of artificial intelligence for the same are some factors to create abundant growth opportunities for the global personalized nutrition market by 2030. Moreover, business expansion by prominent market players is also predicted to offer ample market growth opportunities during the forecast period.
Restraints: High cost of personalized nutrition services is the major factor projected to hamper the market growth.
Click here! To access a PDF Sample of Personalized Nutrition Market
Covid-19 Impact on the Personalized Nutrition Market
Though the Covid-19 pandemic has had a disastrous impact on several businesses, the global personalized nutrition market witnessed noteworthy growth rate amid the pandemic stress. Due to rising number of infected patients and the severe symptoms, many people are taking their health seriously and adopting health diets during the government-imposed strict lockdowns. Moreover, companies are witnessing growing demand for protein powders, supplements, and energy drinks along with other customized nutritional services like personal training, nutritional consulting, etc. These factors are anticipated to propel the market growth during the catastrophe.
Check out Post COVID-19 Impact on Personalized Nutrition Market. Get in touch with Expert Analyst
Segments of the Personalized Nutrition Market
The report has segmented the market into multiple segments based on product type, application, end-use, and regional analysis.
- By product type, the active measurement sub-segment is estimated to have a dominant market share and gather a revenue of $25,123.2 million during the analysis timeframe due to the rapid manufacturing of active measurement tools like testing kits, apps, and programs that keep a track of customizable nutrient profile based on the customers' needs. Additionally, rising strategic alliances among key market players is also expected to bolster the sub-segment's growth by 2030.
- By application, the disease based sub-segment of the global personalized nutrition market is predicted to have the fastest growth rate and surpass $11,929.6 million during the forecast period due to the rising number of diseases worldwide. Increasing demand for customized nutrition solutions and dietary advice by patients for better healthcare is predicted to uplift the sub-segment's growth by 2030.
- By end-use, the wellness and fitness centers sub-segment is projected to have a significant growth rate and generate a revenue of $11,566.0 million during the analysis timeframe due to increasing personalized health services like nutritional consulting and customized training. Additionally, increasing demand for tailored health solutions like energy drinks, protein powders, and supplements by customers is also estimated to augment the sub-segment's growth rate by 2030.
- By region, the personalized nutrition market in the North America region is anticipated to hold a dominant market share and surpass $14,877.5 million by 2030 due to people's high disposable income and the presence of some leading nutritional providers and manufacturers. Moreover, the prevalence of obesity and other serious diseases is also expected to propel the market growth in the North America region during the forecast years.
Key Personalized Nutrition Market Players
Some major market players are
- Habit, LLC
- Wellness Coaches
- DSM
- Bactolac Pharmaceutical
- Herbalife Nutrition
- BASF SE
- DNAfit
- Atlas Biomed
- Balchem Corporation
- Amway, among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Grab a Full Report here
For example, in April 2021, Amway, a US-based leading multi-level marketing company, announced its addition of the brand-new vitamin-C tablet Nutrilite that is made of acerola cherry extract and helps in supporting body's natural defense system.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Personalized Nutrition Market:
- Product Launches and Company Acquisitions by Market Players, such as Herbalife Nutrition, Wellness Coaches, and Others to Foster the Growth of the Global Personalized Nutrition Market
- Personalized Nutrition: A New Branch of Science and Technology that Promises Healthy Living
- How is Personalized Nutrition Beneficial for Individuals to Adopt New Dietary Patterns?
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