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Diet And Nutrition Apps Market Size, Share Analysis, Top Players, And Forecast To 2033
Diet And Nutrition Apps Market Size
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According to The Business Research Company's, The diet and nutrition apps market size has grown exponentially in recent years. It will grow from $9.73 billion in 2023 to $11.80 billion in 2024 at a compound annual growth rate (CAGR) of 21.3%. The growth in the historic period can be attributed to growing health consciousness, rising interest in fitness and weight loss, increasing prevalence of diseases, growing awareness of people about health and wellness and surge in health consciousness.
The diet and nutrition apps market size is expected to see exponential growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%. The growth in the forecast period can be attributed to increased internet and smartphone usage, increased daily active users, government initiatives and programs, rising prevalence of obesity, and increasing child endangerment cases. Major trends in the forecast period include technological advancements, development in the telecommunication sector, mobile phone technology to enhance accessibility, integration of AI and machine learning and adoption of remote monitoring and telehealth solutions.
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Market Drivers and Trends:
The increase in the manufacturing of pharmaceutical drugs is expected to propel the growth of the compound management market going forward. Pharmaceutical drugs refer to medications or substances used to prevent, treat, or diagnose medical conditions in humans or animals. The surge in pharmaceutical drug manufacturing can be attributed to increasing demand for innovative and effective medications, the rising prevalence of chronic diseases, supportive government policies and funding, and the growing importance of personalized medicine. Compound management is used in pharmaceutical drug manufacturing to ensure the efficient handling, storage, and tracking of chemical compounds crucial for research, development, and production. For instance, in June 2023, according to the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based trade association representing the pharmaceutical industry, the total pharmaceutical production in Europe accounted for $368,832 million (€340,000 million) in 2022, an increase of approximately 4.95% from $351,420 million (€323,950 million) in 2021. Therefore, the rise in the manufacturing of pharmaceutical drugs is driving the growth of the compound management market.
Major companies operating in the diet and nutrition apps market are increasing their focus on developing artificial intelligence (AI)-enabled mobile applications to enhance the user experience, personalize recommendations, and improve overall functionality. AI-enabled mobile applications are software programs designed to run on mobile devices, incorporating artificial intelligence algorithms to offer advanced functionalities such as personalized recommendations, natural language processing, and predictive analytics, enhancing the user experience and performance. For instance, in February 2024, the National Institute of Nutrition, an India-based research institute in collaboration with German institutes, launched NutriAIDE, a mobile app promoting healthy and sustainable nutrition through AI-based photo recognition, food content tracking, and environmental impact assessment. NutriAIDE includes an AI-powered photo recognition tool that allows users to upload images of food items to obtain calorie information and assess the carbon footprint of their food choices. It also enables users to track micro- and macronutrient content, monitor physical activity, and engage with their food environments through functions such as maps, move, and mind.
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Major Key Players of the Market:
Apple Inc., Adidas AG, Under Armour Inc., Fitbit Inc., Headspace Inc., Noom Inc., Vida Health Inc., Leaf Group Ltd., FitOn Inc., mySugr GmbH, Lifesum AB, Ovia Health, Yummly Inc., Azumio Inc., PlateJoy LLC, SparkPeople Inc., FatSecret, FitNow Inc., MyNetDiary Inc., Wombat Apps LLC, Jawbone Inc., Foodvisor, Spokin Inc., Eat This Much Inc., Jefit Inc.
Diet And Nutrition Apps Market 2024 Key Insights:
• The diet and nutrition apps market size is expected to see exponential growth in the next few years. It will grow to $25.67 billion in 2028 at a compound annual growth rate (CAGR) of 21.4%.
• Fitness And Weight Loss Trends Fueling Growth In Diet And Nutrition Apps Market
• AI-Driven Innovations In Diet And Nutrition Apps Enhancing User Experience And Sustainability
• North America was the largest region in the diet and nutrition apps market in 2023
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