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Personalized Nutrition Market 2024 - By Industry Analysis, Future Prediction, Business Overview And Forecast To 2033
Personalized Nutrition Market
According to The Business Research Company's, The personalized nutrition market size has grown rapidly in recent years. It will grow from $14.38 billion in 2023 to $16.61 billion in 2024 at a compound annual growth rate (CAGR) of 15.6%. The growth in the historic period can be attributed to advancements in genomics, health awareness and wellness trends, consumer empowerment, rise in chronic diseases, food industry innovation..
The personalized nutrition market size is expected to see rapid growth in the next few years. It will grow to $30.17 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The growth in the forecast period can be attributed to healthcare integration and wellness programs, behavioral insights integration, regulatory support and standards development, direct-to-consumer channels, consumer demand for customization.. Major trends in the forecast period include rising health awareness, genomic research, wearable devices and health trackers, shift in consumer behavior, customized food products..
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Market Drivers and Trends:
The growing prevalence of chronic disease are expected to boost the growth of the personalized nutrition market. Chronic diseases are defined as conditions that are long-lasting and typically cannot be cured completely but can be managed through lifestyle changes and medical treatment. These conditions often develop over time as a result of a combination of genetic, environmental, and behavioral factors. Personalized nutrition is important to cure chronic disease because it considers an individual's unique genetic makeup, health history, and current health status. This allows for the creation of a customized nutrition plan that targets specific health concerns and addresses any nutrient deficiencies or imbalances. For instance, in 2022, Centers for Disease Control and Prevention, a US-based national public health agency, around 37.3 million people are suffering from diabetes which equals 11.3% of the United States population. Therefore, the growing prevalence disease is driving the personalized nutrition market.
Product innovation is a key trend in gaining popularity in the personalized nutrition market. Major companies operating in the personalized nutrition market are focused on using advanced technology, such as artificial intelligence, to sustain in the market. For example, in June 2023, Ahara Corporation, a US-based precision nutrition company that offers personalized nutrition plans based on scientific research and health data, introduced a free version of its personalized nutrition plan, known as the Ahara Basic free plan. This initiative reflects Ahara's commitment to making evidence-based precision nutrition accessible to everyone, aiming to empower individuals to proactively manage their health through personalized dietary strategies. The Basic Plan allows users to benefit from Ahara's data-driven health insights without financial constraints. By completing a scientifically based questionnaire, users receive personalized information about the key nutrients their body needs, along with practical guidance to achieve their nutrition goals. This user-friendly approach eliminates the need for costly in-person doctor visits, making personalized nutrition more accessible to a broader audience.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
BASF SE; Koninklijke DSM N.V.; Herbalife Nutrition Ltd.; Amway Corporation; DNAfit Life Sciences Limited; Wellness Coaches USA LLC; Atlas Biomed Group Limited; Persona Nutrition Inc.; Nutrigenomix Inc.; Habit Food Personalized LLC; Viome Life Sciences Inc.; Zipongo Inc.; MetaMixfix Inc.; BiogeniQ Inc.; Pfizer Inc.; 23andMe Inc.; NutraGene Inc.; Nutrahacker LLC; GenoPalate Inc.; Nutrigenetics and Nutrigenomics Institute.; Nutri-Genetix LLC; GX Sciences LLC; Pathway Genomics Corporation; DnaNudge Limited; Toolbox Genomics LLC; NutriHealth Systems Private Limited; DNA Diet Plan
Personalized Nutrition Market 2024 Key Insights:
• The personalized nutrition market will grow to $30.17 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%.
• Prevalence Of Chronic Disease Boosts Personalized Nutrition Market
• Product Innovation Driving Personalized Nutrition Market
• North America was the largest region in the personalized nutrition market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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