Global Personalized Retail Nutrition And Wellness Market by Recommendation (Fixed, Vitamins, Botanicals, Continuous, Repeat, Dietary Supplements & Nutraceuticals) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global personalized retail nutrition and wellness market was valued at USD1.8 billion in 2020. It is projected to grow at a 7.9% compound annual growth rate (CAGR), between 2021 and 2028. This market has seen significant growth in recent years due to the introduction and integration of advanced wearable technologies, as well as targeted scaling of direct-to consumer ecommerce models. Royal DSM partnered with Huami Corp. in November 2020 to develop personalized nutrition solutions for health conditions like pre-diabetes, cardiac health, and sports performance. DSM's AVA platform, Huami's Amazfit wearables, and PAI (Personal Activity Intelligence), help in real-time measurement of health data. These strategies can be used to help people prevent or manage lifestyle-related health issues by leveraging advanced solutions.

The growing market for personalized nutrition and wellness can also be attributed to the increasing interest in functional foods. Functional foods, especially protein supplements, are slowly rising in popularity and becoming an integral part a consumer’s daily diet. Companies are now focusing their efforts on increasing production to meet the growing demand for functional foods.

Merit Functional Foods, for instance, opened a plant-based protein production facility in Winnipeg, Manitoba in February 2021. This new facility will allow for higher production of high-purity food-grade canola and pea proteins, which are used in food applications and beverages.

The COVID-19 pandemic has also been a positive catalyst to the growth of personalized retail nutrition and wellness. Vitamin and mineral supplements are becoming more popular to boost immune response. Companies are constantly developing new supplements to meet these increasing demands. The BOUNTIFUL COMPANY, for example, launched Immune 24 hour + in December 2020. It's a non-GMO vitamin C supplement that provides 24-hour immune support. The soft gel also contains Zinc and Vitamin D to provide additional immune support.

Recommendation insights

In 2020, the repeat recommendations segment was the dominant market segment for personalized retail nutrition and wellbeing and earned a 57.2% revenue share. This segment has seen significant revenue growth through the launch of apps that track and analyze a person's lifestyle and generate highly personalized recommendations.

Nestle, for example, launched a customized lifestyle app in August 2020 that offers live coaching and personalized nutrition plans to help people achieve their wellness goals. ZOE also launched an app and test kit based upon Artificial Intelligence (AI), in June 2020. This allows for the creation of personalized eating plans that are based on a person's unique gut microbes and dietary inflammation.

Over the forecast period, the sub-segment nutraceuticals and dietary supplements will see a lucrative 8.6% growth. The sub-segment is growing because companies are expanding their product ranges. Advanced Orthomolecular Research (AOR), for instance, launched Tri B12 Synergy in January 2019. This nutraceutical contains three distinct forms of vitamin B12.

Regional Insights

North America was the dominant market for personalized retail nutrition and wellness in 2020, accounting for 47.9% of the total revenue. This region will continue to dominate the market during the forecast period. This region has seen significant growth due to the presence of well-known players, the launch and acceptance of new products by FDA, as well as the FDA's growing approval for functional foods products.

Companies that sell healthcare supplements are also engaging in business development strategies like acquisitions and partnerships which further contributes to the market for personalized retail nutrition. Nature's Way, for example, announced in February 2021 that it had acquired Baze to increase its portfolio of health and wellness products based on personalized and evidence-based nutrition. Baze's platforms will be used by the companies to create high-quality, personalized nutrition.

The market for personalized retail nutrition, and wellness in Asia Pacific is expected to grow by a lot between 2021-2028. This is due to factors like the rising prevalence of obesity and cardiovascular diseases, the increasing interest of consumers in personalized approaches to nutrition, and the expansion of prominent players to expand their presence in the region.

The growing number of large companies partnering with nutrigenomics startups to leverage their respective capabilities could further boost the region's market for personalized nutrition and wellness. Amway, for example, entered into partnership with Holzapfel Effective Microbes in South Korea in July 2020 to develop personalized probiotics. HEM provides test solutions to assess the microbiome of the gut, which can be used for probiotics that will benefit gut health such as weight management, immune system health, skin health, and brain health.

Market Share Insights & Key Companies

Companies are taking more initiatives to provide comprehensive genetic algorithms for specific nutrients or foods, which is contributing to the growing market for personalized retail nutrition. Nutrigenomix, for instance, launched a new line of genetic tests in June 2020. This dietary assessment tool caters to customers who are looking for plant-based personalized nutrition. It provides DNA-based recommendations that are based on a person's genetic profile. The following are some of the most prominent players in personalized retail nutrition and wellness:

• 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

Up Market Research published a new report titled “Personalized Retail Nutrition And Wellness Market research report which is segmented by Recommendation (Fixed, Vitamins, Botanicals, Continuous, Repeat, Dietary Supplements & Nutraceuticals), By Players/Companies Bayer AG, DNAfit, Healbe, Nutrigenomix, Cargill Incorporated, BitBite Inc, Reckitt Benckiser Group PLC, AIRO Health Care (Pty) Ltd, Foodsmart Inc, GlaxoSmithKline plc, Pfizer Inc, Tracxn Technologies, DowDuPont, Viome (Habit Food Personalized LLC), Vitagene, Better Therapeutics Inc, Noom Inc, PlateJoy, Savor Health, GLUCOVATION INC, Consumer Physics, Tellspec, Herbalife International of America Inc, The Nature’s Bounty Co, BiogeniQ Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Personalized Retail Nutrition And Wellness Market Report Segments:

The market is segmented by Recommendation (Fixed, Vitamins, Botanicals, Continuous, Repeat, Dietary Supplements & Nutraceuticals).

Personalized Retail Nutrition And Wellness Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Personalized Retail Nutrition And Wellness Market

Overview of the regional outlook of the Personalized Retail Nutrition And Wellness Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Personalized Retail Nutrition And Wellness Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Personalized Retail Nutrition And Wellness Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Fixed

                2. Vitamins

                3. Botanicals

                4. Continuous

                5. Repeat

                6. Dietary Supplements & Nutraceuticals

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Personalized Retail Nutrition And Wellness Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

How you may use our products:

• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Personalized Retail Nutrition And Wellness Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.