Personalized Retail Nutrition And Wellness Market is expected to expand at a CAGR of 7.9% from 2021 to 2028

Personalized Retail Nutrition And Wellness Industry Overview

The global personalized retail nutrition and wellness market size was valued at USD 1.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.9% from 2021 to 2028. The market has gained significant momentum in recent years, collectively attributed to the introduction of advanced wearable solutions, expanding integration of digital technologies, and targeted scalability of direct-to-consumer e-commerce models. For instance, in November 2020, Royal DSM entered in collaboration with Huami Corp. for developing personalized nutrition solutions to address health conditions such as cardiac health, sports performance, and pre-diabetes. DSM’s AVA digital platform combined with Huami’s Amazfit wearables and PAI (Personal Activity Intelligence) helps in measuring health data in real-time. Hence, such strategies will help individuals prevent and manage lifestyle-based health conditions by leveraging new and advanced solutions.

In addition, the growing inclination towards functional foods can be further attributed to the growth of the market for personalized retail nutrition and wellness. Functional foods especially protein supplements are gradually gaining prominence and are becoming an integral part of a consumer’s daily diet. Hence, owing to the increasing demand of functional food products, companies are focusing on expanding their production for the functional food product portfolio.

Gather more insights about the market drivers, restrains and growth of the Global Personalized Retail Nutrition And Wellness Market

For instance, in February 2021, Merit Functional Foods opened a new plant-based protein manufacturing facility in Winnipeg, Manitoba. The new facility will increase the production of food-grade high purity pea and canola proteins that are used in food and beverage applications.

Moreover, the COVID-19 pandemic is acting as a positive catalyst for the growth of the market for personalized retail nutrition and wellness. People are increasingly driven to vitamin and mineral supplements for enhancing immune response. For catering to these growing needs, companies are launching new supplements. For instance, in December 2020, THE BOUNTIFUL COMPANY launched Immune 24 Hour +. It is a Non-GMO vitamin C supplement with 24-hour immune support. In addition, the soft gel of the supplement also includes Zinc and Vitamin D for added immune plus antioxidant support.

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• Functional Foods Market – The global functional foods market size was estimated at USD 161.49 billion in 2018. It is anticipated to register a CAGR of 7.9% during the forecast period. Increasing demand for nutritional and fortifying food additives is anticipated to drive the growth. Food and beverage manufacturers are deploying fortification of nutritional additives such as omega-3 fatty acids, fibers, vitamins, minerals, and others in their product offerings.

• Protein Supplements Market – The global protein supplements market size was valued at USD 20.47 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 8.5% from 2021 to 2030. The market is gaining momentum owing to the increasing number of health-conscious consumers and fitness centers around the globe.

Personalized Retail Nutrition And Wellness Market Segmentation

Grand View Research has segmented the global personalized retail nutrition and wellness market based on recommendation, and region:

• Recommendation Outlook (Revenue, USD Million, 2017 – 2028)
  • Fixed Recommendation
    • Dietary Supplements & Nutraceuticals
      • Vitamins
      • Proteins
      • Minerals
      • Amino Acids
      • Enzymes
      • Other dietary supplements & nutraceuticals
    • Functional Foods
      • Proteins
      • Vitamins
      • Dietary Fibers
      • Fatty Acids
      • Minerals
      • Prebiotics & Probiotics
      • Carotenoids
    • Traditional Botanicals
  • Repeat Recommendation
    • Dietary Supplements & Nutraceuticals
      • Vitamins
      • Proteins
      • Minerals
      • Amino Acids
      • Enzymes
      • Other dietary supplements & nutraceuticals
    • Functional Foods
      • Proteins
      • Vitamins
      • Dietary Fibers
      • Fatty Acids
      • Minerals
      • Prebiotics & Probiotics
      • Carotenoids
    • Traditional Botanicals
  • Continuous Recommendation
    • Dietary Supplements & Nutraceuticals
      • Vitamins
      • Proteins
      • Minerals
      • Amino Acids
      • Enzymes
      • Other dietary supplements & nutraceuticals
    • Functional Foods
      • Proteins
      • Vitamins
      • Dietary Fibers
      • Fatty Acids
      • Minerals
      • Prebiotics & Probiotics
      • Carotenoids
    • Traditional Botanicals

• Regional Outlook (Revenue, USD Million, 2017 – 2028)
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Market Share Insights

• October 2020: Indena has entered into a partnership with Onegevity to focus on gut microbiome testing to produce personalized nutrition pact and to focus on research and development activities for effective solutions that are synergistic to the wellness plan.
• June 2020: Nutrigenomix launched an exclusive new line of genetic tests, an dietary assessment tool for catering to the needs of customers seeking plant-based personalized nutrition by providing DNA-based recommendations based on an individual’s genetic profile.

Key Companies profiled:

Some prominent players in the global personalized retail nutrition and wellness market include

• Cargill, Incorporated
• The Nature’s Bounty Co.
• Bayer AG
• PlateJoy
• Better Therapeutics, Inc
• Tracxn Technologies
• Viome (Habit Food Personalized, LLC)
• BitBite Inc.
• Noom, Inc.
• Savor Health
• Foodsmart, Inc.
• GLUCOVATION, INC.
• Healbe
• AIRO Health Care (Pty) Ltd.
• Nutrigenomix
• DNAfit
• BiogeniQ Inc.
• Vitagene
• Consumer Physics
• Pfizer, Inc.
• GlaxoSmithKline plc
• Herbalife International of America, Inc.
• Reckitt Benckiser Group PLC.
• DowDuPont
• Tellspec

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