New York, USA, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Research Dive states that the global personalized nutrition market is likely to register a revenue of $21,407.3 million by 2028, at a CAGR of 13.4% during the forecast period from 2021 to 2028. The all-inclusive report provides a brief summary of the current market scenario comprising major aspects of the market such as growth factors, restraints, challenges, and numerous growth opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.
Market Dynamics
As per the analysts of Research Dive, the growing popularity of customized approaches for nutrition and the rising number of obsessed & unhealthy people along with unhealthy eating habits and busy lives of people across the globe are the major factors anticipated to accelerate the growth of the global personalized nutrition market over the forecast period. In addition, the growing demand for conscious food choices and preventive health measures in the food sector are other factors expected to boost the market growth by 2028.
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Moreover, the increasing research & development activities by the researchers and scientists around the world to develop latest technology devices for better use of personalized nutrition is projected to create huge growth opportunities for the personalized nutrition market in the estimated timeframe. However, the lack of awareness and the high cost of personalized nutrition may restrict the market growth in the coming years.
COVID-19 Impact on the Global Market
The outbreak of COVID-19 pandemic has prominently impacted the personalized nutrition market growth. The increase in the growth rate during the pandemic is mainly due to the increasing shift of people towards healthy lifestyle along with the increasing adoption of health diets to boost immunity. As the health complications are growing, people have now started opting for health supplements to increase their immunity, which is increasing the demand for personalized nutrition.
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Active Measurement Sub-segment to Subjugate in the Industry
By product type, the active measurement sub-segment is projected to have a controling market share and garner a revenue of $14,270.4 million in the analysis period. This is majorly because active measurement is mainly used to monitor the customizable as well as accurate nutrient profile based on the requirement of an individual.
Standard Supplement Sub-segment to Hold the Largest Market Share
By application, the standard supplement sub-segment accounted for $6,007.3 million in 2020 and is predicted to account for the controling market share during the analysis period. The prominent growth of the sub-segment can be attributed to the growing consumer’s demand for filling the nutritional gaps in diet by using supplements. Besides, the increasing demand for supplements by athletic or sports person is predicted to boost the sub-segment’s growth in the personalized nutrition market.
Wellness and Fitness Center Sub-segment to be Most Lucrative
By end use, the wellness & fitness center sub-segment garnered a revenue of $2,279.3 million in 2020 and is expected to reach up to $6,039.9 million during the analysis period. This is mainly owing to the rising trends of health services such as personal training, nutrition consulting, and fitness center among the people. Besides, the wellness & fitness center offer various personalized nutrition solutions such as energy drinks, supplements, and protein powders that are customized fully as per the consumer’s preference.
North America Region to cover in the Market
By region, the North America personalized nutrition market is predicted to account for $8,712.8 million by 2028 and witness dominant growth in the forecast period. This growth is attributed to the higher disposable incomes along with the presence of top leading companies in the region. In addition, the strong presence of leading providers and manufacturers of personalized nutrition that offer trending nutritional diets and tests in the region is fueling the personalized nutrition market growth in the North America region.
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Prominent Market Players
The report presents several aspects of these major players such as business & financial performance, strategic moves by key players, latest developments, product portfolio, and SWOT analysis. Some of the top players of the global personalized nutrition market are:
- BASF SE
- Herbalife Nutrition
- DSM
- Amway
- Wellness Coaches
- DNAfit
- Atlas Biomed
- Bactolac Pharmaceutical
- Habit, LLC
- Balchem Corporation.
These players are implementing several strategies to gain a chief position in the global industry.
For instance, in October 2019, Herbalife Nutrition (US), a global leader in meal replacement protein shakes, dietary supplements, and skin care products, announced the launch of relaxation tea and new immunity essentials, to meet personalized nutrition needs in the North American region. The aim of the company is to strengthen their product portfolio for personalized nutrition.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
Related Article Links:
- Amazing Health Benefits of Personalized Nutrition Tools to Surge the Growth of Global Personalized Nutrition Market
- How is Personalized Nutrition Beneficial for Individuals to Adopt New Dietary Patterns?
