NEWARK, Del, April 15, 2024 (GLOBE NEWSWIRE) -- The personalized nutrition market value is expected to rise from US$ 3,435.20 million in 2024 to US$ 5,122.10 million by 2034. This market is analyzed to surge ahead at a CAGR of 4.1% over the next decade.
The personalized nutrition industry is developing at a consistent pace owing to increasing demand for healthier meals and growing fitness awareness. Continuous developments in the customized diet and supplements are fueling the market growth.
Wearable solutions for personalized nutrition are an attractive category that is garnering significant consumer traction. Players are thus exploiting this trend to generate higher revenues for themselves.
Players are further working on health and wellness requirements and goals of various demographics to broaden their portfolio.
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Key Takeaways from the Personalized Nutrition Market Report
- The personalized nutrition market was valued at US$ 2,334.40 million in 2019 and expanded at a CAGR of 3.79% thereon.
- By product type, personalized supplements fall under the blockbuster category, with a market share of approximately 54.3% estimated for the year 2024.
- Based on sales channels, the wellness and fitness center is faring well in the global market, with a 29.80% market share as of 2024.
- Within Asia Pacific, India, China, and Japan are expected to be the top markets for personalized nutrition manufacturers, as consumers in these countries show greater acceptance of personalized nutrition products.
“Key players are zeroing in on research and development for product innovation. Another key strategy that is popular among key players includes collaborations with domestic as well as domestic suppliers of nutrient raw materials to boost their supply chain,” -says Nandini Roy Choudhury (client Partner for Food and Beverages at Future Market Insights, Inc.)
Recent Developments Shaping the Personalized Nutrition Market
- In April 2024, Hexis, a United Kingdom-based personalized sports nutrition, confirmed that it has come into a strategic integration with a platform designed for coaches and athletes named TrainingPeaks. Hexis has been positioned in the market as the first app that dynamically estimates an athlete’s nutritional needs, customized to their precise workout requirements to develop a personalized plan.
- In March 2024, a popular news blog shared that the Samsung Galaxy Ring is anticipated to transform nutrition with personalized meal plans based on caloric intake and BMI. Further, the product’s integration with Samsung Food can offer tailored recipes.
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Profiling of Top Companies Participating in the Personalized Nutrition Market
- Nestlé S.A
Nestlé S.A is a Switzerland-based MNC for food and drink processing corporation. The company offers more than 2000 brands, spanning global icons to local favorites. The company is consistently pushing the boundaries of what is possible with food, beverages, and nutritional health solutions. The company has commenced brainstorming and bringing new ideas into action to satisfy the demands of 10 billion people by 2050 sustainably and responsibly.
- BASF SE
BASF SE is a European multinational company that provides products for the advancement of various fields like agriculture, chemicals, automotive, construction, and more. The company has been working on By-Health on two projects, including customized vitamin products and nutritional products for a geriatric population with sarcopenia.
Enlisted Below are Some Top Market Players
- Nestlé S.A
- BASF SE
- DNAFit
- DSM
- MyMuseli
- General Mills, Inc.
- Nutrigenomix Inc.
- Telomere Diagnostics, Inc. (TeloYears)
- Habit Food Personalized, LLC
- Other Key Players
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Market Segmentation
By Product Type:
- Personalized Supplements
- Personalized Diet Plans
- Personalized Beverages
- Diseases Based
By Measurement Method:
- Active Measurement
- Standard Measurement
By Sales Channel:
- Direct to Consumer Delivery Services
- Wellness and fitness Centers
- Hospitals & Clinics
- Pharmacies
- Online
- Retail Stores
Different Regional Markets are as follows:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
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