The global personalized retail nutrition and wellness market is expected to reach the valuation of USD 3.41 billion in 2023. According to the analysis, the industry is projected to grow at a CAGR of 15.22% from 2024 to 2033. The industry is foreseen to surpass USD 14.06 billion showcasing advancements in the industry through 2033.
In recent years, the market has experienced substantial growth, largely due to the rise of advanced wearable technology, the increased integration of digital solutions, and the strategic expansion of direct-to-consumer e-commerce models.
For example, in November 2020, Royal DSM partnered with Huami Corp. to create personalized nutrition solutions targeting various health issues like cardiac health, sports performance, and pre-diabetes. DSM’s AVA digital platform, in conjunction with Huami’s Amazfit wearables and PAI (Personal Activity Intelligence), enables real-time health data measurement. Such innovations are expected to help individuals better prevent and manage lifestyle-related health conditions through advanced technology.
The growing popularity of functional foods is further fueling the market expansion for personalized retail nutrition and wellness. Protein supplements, in particular, are becoming a significant part of daily diets. To meet the rising demand, companies are scaling up their production of functional food products.
For instance, in February 2021, Merit Functional Foods opened a new manufacturing facility in Winnipeg, Manitoba, dedicated to plant-based proteins. This facility is set to boost the production of high-purity pea and canola proteins used in various food and beverage products.
Additionally, the COVID-19 pandemic has accelerated the growth of the personalized retail nutrition and wellness market. With a heightened focus on immune health, people are turning to vitamin and mineral supplements. In response, companies are introducing new products. For example, in December 2020, THE BOUNTIFUL COMPANY launched Immune 24 Hour +, a Non-GMO vitamin C supplement offering 24-hour immune support, enhanced with zinc and vitamin D for additional immune and antioxidant benefits.
Personalized Retail Nutrition and Wellness Market Highlights:
- North America held the top position in the global market, accounting for 42% of the total share in 2023.
- The Asia Pacific region is projected to experience the most significant growth, with a compound annual growth rate (CAGR) of 17.08% anticipated from 2024 to 2033.
- The segment for repeat recommendations garnered the largest market share at 47% in 2023.
- Personalized testing is expected to witness the fastest growth, with an estimated CAGR of 16.29% during the same period (2024-2033).
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Personalized Retail Nutrition and Wellness Market Concentration & Characteristics
The industry is expected to see a moderate level of innovation in personalized retail nutrition and wellness. This is driven by a focus on data-driven personalized recommendations and gradual advancements in digital health platforms, contributing to a steady but moderate pace of innovation.
Mergers and acquisitions in the industry have been relatively sparse. This can be attributed to a high degree of fragmentation, with many small players in the market, as well as a prevailing emphasis on organic growth strategies by companies.
Regulatory factors significantly influence the personalized retail nutrition and wellness industry. Stringent requirements for product safety and efficacy, regional variations in regulatory standards, and evolving guidelines concerning personalized health claims all play a role in shaping industry development and growth strategies. The need for scientific validation of personalized nutrition products also impacts industry dynamics.
Product expansion in the industry has been modest. Growth is marked by the introduction of niche products aimed at specific consumer segments and an emphasis on refining existing product lines rather than a broad introduction of new items.
Regional expansion in the personalized retail nutrition and wellness sector is occurring at a moderate pace. This is due to varying consumer preferences and awareness in different markets, diverse regulatory environments, and the logistical challenges associated with scaling personalized services on a global scale.
Personalized Retail Nutrition and Wellness Market by Regional Study
In 2023, North America dominated the personalized retail nutrition and wellness market, capturing a substantial revenue share of 42%. The region’s growth is driven by the presence of major industry players, a steady stream of new product launches, and increasing FDA approvals for functional foods. Companies are actively pursuing strategic initiatives such as acquisitions and partnerships to bolster their market positions. For instance, in February 2021, Nature’s Way acquired Baze to enhance its offerings with evidence-based, personalized nutrition solutions, leveraging Baze’s platforms to develop high-quality, customized health products.
In Europe, the personalized retail nutrition and wellness market is thriving, fueled by growing awareness of personalized health solutions, widespread adoption of digital health tools, and favorable regulatory environments that support health and wellness innovations.
The Asia Pacific region is projected to experience the highest growth rate, with a CAGR of 17.08% from 2024 to 2033. This rapid expansion is attributed to increasing consumer awareness of health and wellness, accelerated urbanization, rising disposable incomes, and advancements in digital health technologies. The region also faces a growing prevalence of lifestyle-related diseases and a rising demand for preventive healthcare, prompting significant investments in research and development by key industry players to introduce innovative personalized nutrition products and services.
In the Middle East and Africa, the market is expected to grow at a moderate CAGR during the forecast period. Growth drivers include rising health and wellness awareness, a higher prevalence of lifestyle-related diseases, and an increasing interest in preventive healthcare solutions.
Personalized Retail Nutrition and Wellness Market by Type Outlook
In 2023, the repeat recommendations segment emerged as the leading force in the market, capturing a significant revenue share of 47%. This strong performance is largely due to the rise of commercial applications designed to track daily habits and lifestyles, thereby offering highly personalized recommendations. For instance, in August 2020, Nestlé launched a new lifestyle app that provides live coaching and customized nutrition plans to help users meet their wellness objectives. Similarly, ZOE introduced an AI-powered test kit and app in June 2020, which formulates personalized eating plans based on an individual’s dietary inflammation and gut microbiome.
Looking ahead, the personalized testing segment is expected to witness the highest growth rate, with a compound annual growth rate (CAGR) of 16.29% during the forecast period. This rapid growth is driven by increasing consumer awareness of the benefits of personalized nutrition, advancements in genomic and microbiome testing technologies, and a growing demand for tailored health solutions.
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Personalized Retail Nutrition and Wellness Market: Future Opportunities
1. Rising Consumer Demand for Personalized Health Solutions:
- Increased health awareness: Consumers are becoming more conscious of their health and well-being, seeking tailored solutions to meet their specific needs.
- Chronic disease prevalence: The increasing prevalence of chronic diseases like diabetes, obesity, and heart disease is driving demand for personalized nutrition and wellness plans.
2. Advancements in Technology:
- Wearable devices: Devices like fitness trackers and smartwatches are collecting vast amounts of data on consumer health and lifestyle, enabling personalized recommendations.
- Genomics: Advances in genomics are allowing for more precise understanding of individual genetic makeup and its impact on nutrition and health.
- Artificial intelligence: AI algorithms can analyze data to provide personalized nutrition and wellness recommendations.
3. Digital Transformation:
- E-commerce: The growth of e-commerce platforms is making it easier for consumers to access personalized nutrition products and services.
- Mobile apps: Mobile apps are providing convenient and accessible platforms for personalized nutrition and wellness programs.
4. Regulatory Support:
- Favorable policies: Governments are increasingly supporting personalized nutrition and wellness initiatives through favorable regulations and policies.
5. Growing Focus on Preventive Healthcare:
- Shift towards prevention: There is a growing emphasis on preventive healthcare, which aligns well with personalized nutrition and wellness approaches.
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Competitive Landscape and Market Share Analysis in Personalized Retail Nutrition and Wellness
The competitive landscape of the personalized retail nutrition and wellness market offers insights into key players across various dimensions, including company overview, financial performance, revenue generation, market potential, investment in R&D, new initiatives, global presence, production sites and capacities, strengths and weaknesses, and product offerings. The following information pertains specifically to companies involved in personalized retail nutrition and wellness.
Prominent companies in this sector include:
- Tellspec: Known for its innovative technology in personalized nutrition.
- Consumer Physics: Specializes in portable nutrition analysis tools.
- PlateJoy, Inc.: Provides personalized meal planning solutions.
- Better Therapeutics, Inc.: Focuses on digital therapeutics for chronic disease management.
- Habit Food Personalized, LLC: Offers custom nutrition plans based on individual data.
- Savor Health: Provides tailored nutrition solutions for cancer patients.
- Zipongo (DBA Foodsmart): Delivers personalized food recommendations and meal planning.
- GLUCOVATION, INC.: Focuses on glucose management and personalized nutrition.
- Hain Celestial: Known for natural and organic food products.
- DSM: Offers a range of health and nutrition products and services.
- Nestlé: A global leader in nutrition, health, and wellness.
- Matsun Nutrition: Provides high-quality nutritional supplements.
- Innophos: Specializes in nutritional ingredients and solutions.
- General Mills Inc.: Offers a diverse portfolio of food products.
- Danone S.A.: Focuses on dairy products and plant-based nutrition.
- Cargill, Incorporated: Provides ingredients and solutions for personalized nutrition.
- ADM: Specializes in nutrition and wellness ingredients.
- THE BOUNTIFUL COMPANY: Known for dietary supplements and wellness products.
- Herbalife International of America, Inc.: Offers a range of health and wellness products.
- DayTwo Inc.: Focuses on personalized nutrition based on gut microbiome analysis.
Personalized Retail Nutrition and Wellness Market Segmentation:
By Type
- Fixed Recommendation
- Dietary Supplements & Nutraceuticals
- Vitamins
- Proteins
- Minerals
- Amino Acids
- Enzymes
- Others
- Functional Foods
- Proteins
- Vitamins
- Dietary Fibers
- Fatty Acids
- Minerals
- Prebiotics & Probiotics
- Carotenoids
- Traditional Botanicals
- Dietary Supplements & Nutraceuticals
- Repeat Recommendation
- Dietary Supplements & Nutraceuticals
- Vitamins
- Proteins
- Minerals
- Amino Acids
- Enzymes
- Others
- Functional Foods
- Proteins
- Vitamins
- Dietary Fibers
- Fatty Acids
- Minerals
- Prebiotics & Probiotics
- Carotenoids
- Traditional Botanicals
- Dietary Supplements & Nutraceuticals
- Continuous Recommendation
- Dietary Supplements & Nutraceuticals
- Vitamins
- Proteins
- Minerals
- Amino Acids
- Enzymes
- Others
- Functional Foods
- Proteins
- Vitamins
- Dietary Fibers
- Fatty Acids
- Minerals
- Prebiotics & Probiotics
- Carotenoids
- Traditional Botanicals
- Dietary Supplements & Nutraceuticals
- Personalized Testing
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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