SAN FRANCISCO, April 10, 2019 /PRNewswire/ -- The global personalized retail nutrition & wellness market size is expected to reach USD 50.0 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 9.1% CAGR over the forecast period. Increase in demand for preventive health measures, rising trend for customization in the food sector, focus on healthier eating, and rising ongoing activities in nutrigenomics have strengthened the development of personalized nutrition products.
Key suggestions from the report:
Based on product type, the market is bifurcated into dietary supplements & nutraceuticals and functional foods. Dietary supplements & nutraceuticals is projected to be the fastest growing segment owing to rising concern among people about lack of nutrition in their diet
Vitamin dietary supplements held the largest share over other supplements owing to high market penetration of products in this segment. A major percentage of the U.S. population consume dietary intakes of vitamin A, C, D, and E
The functional food products segment is fueled by easy availability of fortified products and changes in regulatory structure. Functional foods for protein source dominated the overall market owing to high usage rate of protein-enriched foods among athletes
With respect to region, North America is estimated to emerge as the leading market in terms of revenue. This is primarily due to well-established food and biotechnology industries in U.S., coupled with presence of several personalized nutrition companies in the country
Habit Food Personalized, LLC; Nima Labs, Inc.; Pfizer, Inc.; and Bayer AG are some key companies operating in this market. These players are focused on research activities for customized wellness product development.
Concerns with respect to healthy lifestyle in order to gain optimum nutrition and preventing various illnesses are rising among the public. Factors pronouncing such concerns include inadequate nutrition in daily diet and sedentary lifestyle.
Currently, substantial marketed products are being produced and provided by startup companies such as STYR, Food Marbel, and Habit Food Personalized, LLC. Introduction of artificial intelligence-based algorithms to better track health data on routine basis has prompted medium-sized as well as well-established food and soft drink manufactures to design and develop various customized programs for people's health and well-being.
Grand View Research has segmented the global personalized retail nutrition & wellness market on the basis of product type and region:
Personalized Retail Nutrition & Wellness Product Type Outlook (Revenue, USD Million, 2014 - 2025)
Medical Power Supply Market – Medical power supply is equipment/device used in an extensive range of medical applications. Power supply devices are discrete and standalone devices. At times, they are integrated into larger devices/equipment.
Spine Biologics Market – Spine Biologics consists of material that can be used in degenerative disc disease, bone fusion surgery, and spinal cord injury. The usage of biologics has always been crucial in case of spine surgery as a vital element for at all spinal fusion surgery.
Protein Binding Assays Market – Protein binding assays are increasingly being used in pre-clinical research studies related to drug discovery & development for chronic diseases.
Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.