Wearable solutions for personalized nutrition will receive a lot of attention in the future. The US personalized nutrition market is estimated to expand at a CAGR of 3.10% over the next 10 years. Domestically, two major consumer profiles have surfaced: the elderly and digital generations such as Millennials and his Generation Z.
NEWARK, Del., April 15, 2024 (Globe Newswire) — The market value of personalized nutrition is USD 3,435.2 million in 2024 to USD 5,122.1 million by 2034.This market is analyzed to grow rapidly CAGR 4.1% Over the next decade.
The personalized nutrition industry is developing at a consistent pace due to the growing demand for healthier diets and increasing awareness of fitness. Continuous development of customized diets and supplements is driving market growth.
Wearable solutions for personalized nutrition are an attractive category that is attracting significant consumer attention. Therefore, players are taking advantage of this trend to generate higher returns for themselves.
Players are further addressing the health and wellness requirements and goals of different demographics to expand their portfolio.
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Key Takeaways from the Personalized Nutrition Market Report
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The personalized nutrition market was valued at USD 2,334.4 million in 2019, expanding at a CAGR of 3.79%.
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By product type, personalized supplements fall into the blockbuster category, with an estimated market share of approximately 54.3% in 2024.
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Based on sales channels, Wellness & Fitness Center is performing well in the global market, capturing a market share of 29.80% in 2024.
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Within the Asia-Pacific region, India, China, and Japan are expected to be the top markets for personalized nutrition products manufacturers, with consumers in these countries seeming to be more accepting of personalized nutrition products.
“Major companies are focusing on research and development for product innovation. Another key strategy popular among leading companies includes partnering with local and domestic nutritional ingredient suppliers to strengthen their supply chains. This includes the cooperation of -To tell nandini roy chowdhury (Food and Beverage Client Partner of Future Market Insights, Inc.)
Recent developments forming personalized nutrition market
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In April 2024, UK-based personalized sports nutrition company Hexis confirmed a strategic integration with a platform designed for coaches and athletes called TrainingPeaks. Hexis is positioned as the first app on the market to dynamically estimate an athlete’s nutritional needs and create a customized and personalized plan to meet their exact training requirements.
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In March 2024, a popular news blog shared that the Samsung Galaxy Ring is expected to transform nutrition with personalized meal plans based on calorie intake and BMI. Additionally, this product’s integration with Samsung Food allows you to provide customized recipes.
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Profiling of top companies participating in the personalized nutrition market
Nestlé SA is a multinational food and beverage processing company based in Switzerland. The company offers more than 2,000 brands, from global icons to local favorites. The company is constantly pushing the boundaries of what’s possible in food, beverage and nutritional health solutions. The company began brainstorming and implementing new ideas to meet the demands of 10 billion people sustainably and responsibly by 2050.
BASF SE is a European multinational company that provides products for the advancement of various fields such as agriculture, chemicals, automotive, and construction. The company is working on his By-Health with two projects, including customized vitamin products and nutritional products for sarcopenic seniors.
Below are some of the top market players
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Nestlé SA
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BASF SE
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dna fit
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DSM
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Mime Seri
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general mills company
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Nutrigenomics Co., Ltd.
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Telomere Diagnostics, Inc. (Teloyears)
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Habit Food Personalized LLC
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Other key players
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market segmentation
By product type:
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personalized supplements
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personalized diet plan
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personalized drinks
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based on disease
By measurement method:
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active measurement
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standard measurements
By sales channel:
The various regional markets are:
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North America
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Europe
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Asia Pacific
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middle east and africa
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latin america
author:
Nandini Roy Choudhury, Food and Beverage Client Partner at Future Market Insights, Inc., has over seven years of management consulting experience. She advises industry leaders and explores hidden opportunities and challenges. She implements processes and operating models to support business objectives.
She has excellent analytical skills and often provides thought leadership.
Nandini has extensive functional expertise in key niche areas including, but not limited to, food ingredients, nutrition and health solutions, animal nutrition, and marine nutrition. She also has expertise in the pharmaceutical, biotech, retail, and chemical sectors, advising market participants to develop methodologies and strategies that deliver results.
Her core expertise is in corporate growth strategy, sales and marketing effectiveness, acquisition and post-merger integration, and cost reduction. Nandini earned her MBA in Finance from MIT School of Business. She also holds a bachelor’s degree in electrical engineering from the University of Nagpur, India.
Nandini has written for several publications and has been quoted in magazines such as Beverage Industry, Bloomberg, and Wine Industry Advisor.
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Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Winner, Greater New York Chamber of Commerce Member) provides deep insight into the drivers driving market demand. FMI is a leading global provider of market intelligence, advisory services, consulting, and events for the packaging, food and beverage, consumer technology, healthcare, industrial, and chemical markets. With a large team of over 400 analysts located around the world, FMI provides global, regional and local expertise on diverse sectors and industry trends in over 110 countries.
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