23 January 2020
Visiongain’s new report the Personalized retail nutrition & wellness Market Report 2020-2030: Forecasts by Product (Dietary Supplements & Nutraceuticals, Functional Foods) plus analysis of leading companies indicates that the global personalized retail nutrition & wellness market will grow at a CAGR over 10% by 2030.
The nutraceutical and functional food market has seen significant growth in sales over the past few years. His one-size-fits-all dietary strategy, however, was not satisfactory. This has resulted in the development of personalized nutrition. The advancement of metabolic profiling technologies enables the analysis of the nutritional requirements of a person and the consequent creation of a custom system. The technology has been put into significant application in food sciences with a decrease in resource reliance in genomics research. In order to better understand and enhance the well-being of a person, the annotated genomic data is combined with scientific literature and nutritional information of a patient. Increased disease incidence due to sedentary lifestyle, growing concerns about insufficient food, increased understanding of the role of nutrigenomics, and increased geriatric population are key factors responsible for increasing demand for tailor-made wellness programs. Organizations are using machine-learning algorithms to increase human well-being in response to rising demand.
Developing a wide range of methodologies for collecting patient information in order to better develop an individualized dietary treatment plan promotes market growth. Such approach costs vary from high to low, thereby increasing their availability across all population groups and economies. Increasing demand for custom diet, increasing awareness of healthier foods and developing routine solutions for efficient monitoring of health data have provided lucrative opportunities for food producers to expand their business operations. Investment in customized food development is therefore recognized as a crucial growth strategy for manufacturers to safeguard their place in the eatables and consumer goods market. In turn, customers have become more oriented on health and weight control and are therefore looking for viable solutions through a customized approach. As a result, functional food products gain popularity slowly and become an integral part of the daily diet of a customer. Such factors resulted in the functional foods segment becoming dominant in the market for personalized retail health & wellness. This category is also fuelled by high protein intake for performance improvement among sportsmen and athletes. In addition, there has been a significant increase in protein-fortified food consumption among women due to increased inclination to strength training. It is anticipated that ongoing clinical trials to validate newly developed customized nutritional algorithms will help maintain the dominance of this regional market throughout the forecast period. In addition, a large number of facilities engaging in genetic analysis and having a well-established computer network in the U.S. have facilitated the introduction of tailored food programs.
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