November 12, 2018
Despite numerous obstacles such as low consumer awareness, prevalence of one-size-fits-all solutions, etc., the market for personalized nutrition remains on track, as newer businesses join the field and customers are increasingly drawn to individualized nutritional goods and services.
Axiom Market Research & Consulting™ published a report on global personalized nutrition market. The global personalized nutrition market was valued at USD 7.17 billion in 2018 and was projected to grow at a CAGR of 7.03% for the forecast period 2020 to 2025.
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The global personalized nutrition market is segmented based on product, application, age group, providers and geography. Based on product, the market is segmented into vitamins, herbs & botanicals, minerals, proteins & amino acids, fatty acids, probiotics, fibers & specialty carbohydrates and others including prebiotics, carotenoids, glucosamine etc. Based on application, the market is segmented into overall health/wellness, immune health, bone health, heart health, skin, hair & nails, digestive/gastrointestinal health, joint health and others including eye health, mental health etc. By age group, the personalized nutrition market is segmented into 0-18 age group, 19-34 age group, 35-54 age group and 55+ age group. By providers, the personalized nutrition market is segmented into wellness & fitness centers, medical profession & dietician, food delivery services and diagnostic companies (wearables) & laboratories.
Startup companies have been receiving support from major food developer companies, giving them a chance to grow in this market. For instance, in October 2016, Campbell Soup Co. invested in the California-based personalized startup Habit Food Personalized, LLC. The Campbell Soup Co., Camden, N.J., generated headlines in late October when the company announced plans to invest USD 32 million in the personalized nutrition meal delivery start-up Habit, San Francisco.
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In March 2018, DSM and digital health company Mixfit, have confirmed a strategic partnership to deliver personalized nutrition solutions, providing individuals with the nutrients they need for optimal health based on a comprehensive set of health and activity measurements. This unique collaboration brings together DSM's expertise in essential micronutrients and the technological edge of Mixfit to provide the ability to analyze health data in real-time, to effectively address nutritional gaps and support a healthy lifestyle.
The capabilities of mobile-based technology offer plenty of options for designers of services to choose appropriate business models and vehicles to reach and retain targeted consumer segments, although the characterization of the various consumer segments is still incomplete. Service providers are very much in trial-and-error mode in this emerging area of personalized nutrition. They offer many applications and business models that personalize counseling and behavior change using age, gender, BMI (body mass index), dietary intake data, and phenotypic information such as blood pressure, body fat, waist to-hip ratio, cholesterol, and so forth. Such personalized offers include personal diet plans, shopping lists, lifestyle advice and personal coaching. Moreover, platforms connecting multiple stakeholders such as HCPs (health care providers), nutritionists, hospitals, insurers, operators of electronic health records and other service providers around consumers and/or patients offer possibilities to deploy suitable business models through these platforms. Some of these platforms also address needs of consumers at the base of the income pyramid. Careintegrator and Paripal are just two of many such examples.
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In January 2017, Genomix Nutrition, Inc. launched a 55 Gene Nutrigenomic Testing Platform, allowing patients more insight into their individual DNA and giving healthcare providers the opportunity to support their patient’s nutrition based on their individual DNA. This testing will provide the patient an analysis of their genetic weaknesses and what nutritional ingredients they will need for optimal health.
North America accounted for the largest market share of personalized nutrition in 2018, dominated by the U.S. The growth in this region is supported by high incomes, world-class fitness and athletics infrastructure.
Key companies operating in the global personalized nutrition market include:
BASF SE, Caligenix, Care/of, DayTwo Inc., DNAFit, Genomix Nutrition, Inc. (GX Sciences, Inc.), Habit Food Personalized, LLC, InsideTracker (Segterra), Lonza, Metagenics, Inc, Mixfit Inc. (DSM), Nutrigenomix Inc., Telomere Diagnostics, Inc (TeloYears), Orig3n, Pure Encapsulations, SDC Nutrition Inc., STYRLABS, Vitagene, Vitamin Packs, Inc., Savor Health and Zipongo.
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