Personalized Nutrition and Supplements Global Market to Reach $131.62 Billion by 2030: Increasing Consumer Health Awareness Coupled with Growing Demand for Retail Nutrition Products Fuels the Sector - ResearchAndMarkets.com
29 Mar 2023
Acquisition
DUBLIN--(BUSINESS WIRE)--The "Personalized Nutrition And Supplements Market Size, Share & Trends Analysis Report By Ingredient (Vitamins, Minerals), By Dosage Form (Liquids, Powders), By Age Group, By Distribution Channel, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
'Personalized Nutrition And Supplements Market Size, Share & Trends Analysis Report By Ingredient (Vitamins, Minerals), By Dosage Form (Liquids, Powders), By Age Group, By Distribution Channel, And Segment Forecasts, 2023 - 2030'
The global personalized nutrition and supplements market size is expected to reach USD 131.62 billion by 2030, registering a CAGR of 15.0% over the forecast years.
Companies Mentioned
Abbott
Superior Supplement Manufacturing
GX Sciences, LLC
Nutralliance
DNAfit
Archer Daniels Midland Company (ADM),
The market has witnessed lucrative growth since 2020. Nutritional supplements are majorly used for boosting immunity, energy, cognitive & mental health, as well as improving heart & digestive health.
The sudden shift in consumer preference toward a healthy lifestyle, including adding personalized vitamins to day-to-day regimens is also driving the market. According to a report by ADM, post-COVID-19 lockdown, 60% of global consumers are aiming to enhance their overall health and wellness in the next 12 months.
The fastest-growing applications in the industry are mood, stress, and sleep. The spike in sales of global supplements was due to the increasing awareness about the importance of a strong immune system during COVID-19. A study published by the National Library of Medicine in December 2021 stated that in the U.S., pre-COVID-19, the sales of dietary supplements increased by 5%, accounting for USD 345 million.
However, by April 2020, the sales increased by 44% to USD 435 million as compared to April 2019. Sales were majorly driven by multivitamins in March 2020 and accounted for 51.2% of accumulated sales of supplements & vitamins, reaching approximately 120 million units for that timeframe alone.
In the U.K., the demand for vitamin sales alone was accelerated by 63%, while France witnessed around 40% to 60% increase in sales in March 2020 as compared to March 2019. Nutritional and food status has been related to various medical conditions, including diabetes, Cardiovascular Disease (CVD), cancer, and allergies.
Healthy eating is important for preventing and mitigating various Noncommunicable Diseases (NCDs), which account for around 70% of deaths across the globe. Several regions are on course to achieve their targets for young children, infants, and maternal nutrition. For instance, according to the Global Nutrition Report 2021, only one nation is on course to decrease the prevalence of anemia among women of reproductive age.
Companies are continuously expanding their product and service portfolios to accelerate the development and manufacturing of the product. For instance, in September 2022, Metagenics announced the acquisition of Nutri Advanced, a U.K.-based online retailer of supplements.
The acquisition was employed to create a direct presence of Metagenics in major regions of the EMEA region. North America accounted for the largest revenue share in 2022 and will remain dominant throughout the forecast period. The increasing incidence of diet-related diseases, such as obesity and chronic diseases, is encouraging companies to undertake product development in the region.
Personalized Nutrition And Supplements Market Report Highlights
The vitamins ingredient segment is relatively more mature than the probiotics & minerals segment owing to the increasing number of companies offering services in the vitamin segment
The tablets/capsules dosage form segment is anticipated to capture the majority of the revenue share by 2030 as these forms are easy to manufacture and offer an accurate quantity of ingredients as compared to the powder form
The supermarket distribution channel segment held the largest revenue share in 2022 and will remain dominant throughout the forecast years as major supermarkets are undertaking strategic initiatives to add personalized supplements to their shelves
By age group, adults are major consumers, followed by the geriatric age group, and this trend is likely to continue over the forecast period. This growth can be attributed to the increasing prevalence of diet-related medical conditions and unhealthy lifestyle
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends, and Scope
3.1 Market Trends and Outlook
3.2 Market Lineage Outlook
3.2.1 Parent Market Outlook
3.2.2 Related Market Outlook
3.3 Penetration & Growth Prospect Mapping, 2022
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Increasing Consumer Health Awareness Coupled With Growing Demand For Retail Nutrition Products
3.4.1.2 Wide Range Of Program Options With Respect To Type And Price
3.4.1.3 Increasing Prevalence Of Diet-Related Diseases
3.4.2 Market Restraint Analysis
3.4.2.1 High Cost Of Dietary Supplements And Nutrition Plans
3.4.3 Market Challenge Analysis
3.4.3.1 Presence Of Regulations In The Market
3.5 Business Environment Analysis
3.5.1 Swot Analysis; By Factor (Political & Legal, Economic, And Technological)
3.5.2 Porter's Five Forces Analysis
3.6 Covid-19 Impact Analysis
Chapter 4 Ingredient Business Analysis
Chapter 5 Dosage Form Business Analysis
Chapter 6 Distribution Channel Business Analysis
Chapter 7 Age Group Business Analysis
Chapter 8 Regional Business Analysis
Chapter 9 Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/mwk9tx
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
-Drugs
-Chat with Hiro
Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Empower better decisions with the latest in pharmaceutical intelligence.