Market Leaders: DSM Entered into a Research Collaboration with Wellmetrix. This would help the Company to use Wellmetrix’s Personal Health Testing Platform for Tracking Improvements
The global personalized nutrition market size is estimated to be valued at USD 11.3 Billion in 2022. It is projected to reach USD 23.3 Billion by 2027, recording a CAGR of 15.5%, in terms of value. The demand for personalized nutrition is increasing due to increasing awareness about the benefits offered by personalized nutrition in achieving health goals.
Key players operating in this market include BASF SE (Germany), DSM (Netherlands), Herbalife Nutrition Ltd. (US), Amway (US), DNAfit (UK), Wellness Coaches USA, LLC. (US), Atlas Biomed (UK), Care/of (US), Viome Life Sciences, Inc. (US), Persona Nutrition (US), Balchem Corporation (US), and Zipongo, Inc. (US).
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The key players are fixated on improving their market shares, while start-ups are being established rapidly. The personalized nutrition market can be classified as a fragmented one as it has the presence of various regional players, accounting for a major part of the market share. There are numerous existing and emerging companies, particularly in the North American and Asian markets.
Herbalife Nutrition Ltd. is a global nutrition company involved in providing nutrition-based products and solutions for weight management and general wellness. In August 2022, Herbalife Nutrition announced Herbalife One, a new digital transformation initiative centered around launching a single platform that creates a simplified and integrated experience for distributors and their customers worldwide. This would help the company to increase its efficiency and productivity. Similarly, in July 2020, Herbalife Nutrition launched Active Fiber Complex Select, a fiber supplement to help support a healthy digestive system. It is Vegetarian Certified and Kosher Certified, not made with soy, and suitable for diabetics. This would help to strengthen the company’s position in the market. The company has a geographically diverse business with its presence in more than 94 countries across North America, Europe, and Asia.
Amway offers effective nutritional supplements, beauty, personal care products, and connected home devices. In August 2022, Amway announced to invest in a microbiome start-up, Holzapfel Effective Microbes (HEM), as it pursues personalized probiotic supplement products. HEM uses Personalized Pharmaceutical Meta-Analytical Screening (PMAS) to determine how gut microbiota can be leveraged to impact human health and wellness. The company invested USD 200 million to set up a dietary supplement innovation center in China. This helped offer custom-made solutions and led to an overall expansion of the company in November 2019. The firm offers around 450 products in more than 100 countries across regions, such as the Americas, Europe, and Asia Pacific. It operates through 15 manufacturing facilities and processing plants. The company has four manufacturing sites in the US, India, China, and Vietnam.
Related Reports:
Personalized Nutrition Market by Product Type (Active Measurement and Standard Measurement), Application, End Use (Direct-to-Consumer, Wellness & Fitness Centers, Hospitals & Clinics, and Institutions), Form and Region - Global Forecast to 2027
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