(I-BusinessNews.Com, December 04, 2020 ) The global personalized nutrition market size is projected to grow from USD 8.2 billion in 2020 to USD 16.4 billion by 2025, recording a compound annual growth rate (CAGR) of 15.0% during the forecast period. The increasing trend of personalization for health-related solutions and the shifting consumer preferences due to the rising health awareness across regions are some of the major factors that are projected to drive the growth of the personalized nutrition market. In addition, the increasing trend of adopting digital and preventive healthcare solutions are a few other key factors that are projected to drive the market growth.
The active measurement segment is estimated to account for the largest share in 2019 in the market.
Active measurement tools include apps, testing kits, and programs. These usually give a more accurate and customizable nutrient profile based on an individualÂs requirements. Therefore, the active measurement segment is projected to record the fastest growth in the market due to the increasing adaptability and acceptance in the market.
The standard supplements segment is projected to account for the largest share during the forecast period.
By application, the standard supplements segment is projected to account for a larger market share, followed by the disease-based segment. The changing preferences and rising awareness about the overall health of individuals have led to an increase in the number of people opting for standard supplements. People are increasingly becoming aware of deficiencies and nutrient requirements, which is a key factor that is projected to drive the demand for standard supplements.
North America is projected to account for the largest share in the personalized nutrition market during the forecast period.
The North American market accounted for the largest share in 2019. The growth of the market in this region is majorly driven by the rising awareness among consumers about their health. Key players offering personalized nutrition are present in this region, which is also projected to contribute to the growth of the market. The region is witnessing an increase in the number of obesity rates. Besides, hectic and busier lifestyles have encouraged consumers to opt for specialized dietary supplements that are tailored to their specific requirements. Furthermore, the rise in income of consumers in the region will also contribute to their increased buying power, which, in turn, will encourage them to opt for personalized diets as per their preferences.
Some of the major players present in the personalized nutrition market include BASF SE (Germany), DSM (Netherlands), Persona (US), Amway (US), Herbalife Nutrition (US), Atlas Biomed Group Limited (UK), Zipongo (US), Wellness Coaches (US), Care/of (US), Habit Food Personalized (US), and Nutrigenomix (Canada). Joint agreements, investments, collaborations, and new product launches are some of the dominant strategies that are adopted by major players to strengthen their presence in the personalized nutrition market. These strategies have helped companies to expand their product offerings for personalized nutrition, and are projected to drive the market growth.
BASF (Germany) operates through six segments, namely, chemicals, materials, industrial solutions, surface technologies, nutrition and care, and agricultural solutions, serving various industries across the world, such as automotive, agriculture, pharmaceuticals, textiles, electronics, personal care and hygiene, nutrition, and energy and resources. Its nutrition and care segment includes care chemicals, nutrition, and health business units. The company offers dietary supplement ingredients as a part of personalized nutrition and a range of products for human nutrition under its nutrition and care business segment. BASF entered in an agreement with Xerion Limited (Australia) to encourage advancements in personalized nutrition in Asia Pacific. This agreement is regarding PUFAcoat fatty acids profiling kits. The company also undertook an alliance with By-Health (China), which is a nutritional supplement company that promotes the concept of personalized nutrition in China. It operates in more than 90 countries with nearly 355 production sites and six Verbund sites across regions, such as Europe, the Americas, Asia, Australia, and Africa.
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DSM is based in the Netherlands and is involved in the manufacturing of nutritional products, pharmaceutical ingredients, and industrial chemicals. Its business areas are segmented into nutrition, materials, and innovation center. They are actively providing solutions in the fields of nutrition and health. The company offers personalized nutrition products under its DSM human nutrition and health segment. It offers vitamins, carotenoids, digestive enzymes, nutraceuticals, probiotics and prebiotics, and customized solutions, including personalized nutrition solutions. It serves various industries, such as the dietary supplements, infant nutrition, food & beverages, pharmaceuticals, and personal care industries. The company has undertaken inorganic growth strategies in the industry. It operates globally and has its presence in over 50 countries, including the UK, the Netherlands, Germany, US, Luxembourg, Belgium, France, and Switzerland among others.
Mr. Aashish Mehra