Personalized Retail Nutrition And Wellness Market Size | Companies
The global personalized retail nutrition and wellness market size was exhibited at USD 3.65 billion in 2023 and is projected to hit around USD 15.04 billion by 2033, growing at a CAGR of 15.21% during the forecast period 2024 to 2033.
| Report Coverage | Details |
| Market Size in 2024 | USD 4.21 Billion |
| Market Size by 2033 | USD 15.04 Billion |
| Growth Rate From 2024 to 2033 | CAGR of 15.21% |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Segments Covered | Type, Region |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Key Companies Profiled | Nature's Lab; Cargill, Incorporated; Nature's Bounty; Bayer AG; PlateJoy LLC; Better Therapeutics, Inc.; Viome Life Sciences, Inc.; Noom, Inc.; Savor Health; Nutrigenomix; DNAfit (Prenetics Global) |
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.
The growing inclination towards functional foods can be further attributed to the market growth 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 for functional food products, companies are focusing on expanding their production for the functional food product portfolio.
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.
The COVID-19 pandemic is acting as a positive catalyst for the market growth 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 immunity plus antioxidant support.
Based on type, the repeat recommendations segment led the market with the largest revenue share of 46.36% in 2023. The launch of commercial apps that monitor an individual’s daily routine and lifestyle and help in generating ultra-personalized recommendations have made significant revenue contributions to this segment.
For instance, in August 2020, Nestlé launched a new customized lifestyle app that provides live coaching and custom nutrition plans for achieving personal wellness goals. Similarly, in June 2020, ZOE launched a test kit and app based on Artificial Intelligence (AI) for developing personalized eating plans based on an individual’s dietary inflammation and unique gut microbes.
The personalized testing segment is expected to grow at the fastest CAGR of 16.28% over the forecast period. Increasing consumer awareness about the benefits of personalized nutrition, advancements in genomic and microbiome testing technologies, and a growing demand for tailored health solutions are key contributors.
North America dominated the personalized retail nutrition and wellness market with the largest revenue share of 41.43% in 2023. The growth in this region is driven by the presence of prominent players, the launch of new products, and growing FDA approval for functional food products. In addition, companies offering healthcare supplements are engaging in business development strategies such as acquisition and partnerships, which is further contributing to the market growth in the region. For instance, in February 2021, Nature’s Way announced the acquisition of Baze to expand its health and wellness portfolio based on evidence-based and personalized nutrition. The companies will leverage Baze’s platforms to develop high-quality personalized nutrition.
U.S. Personalized Retail Nutrition and Wellness Market Trends
The personalized retail nutrition and wellness market in the U.S. is expected to grow at the fastest CAGR over the forecast period. Increasing consumer demand for tailored health solutions and advancements in digital health technologies and genomic testing is driving the demand for personalized retail nutrition and wellness products.
Europe Personalized Retail Nutrition and Wellness Market Trends
The personalized retail nutrition and wellness market in Europe was identified as a lucrative region in this industry. This is attributed to the growing awareness of personalized health, increasing adoption of digital health tools, and supportive regulatory frameworks for health and wellness innovations.
The UK personalized retail nutrition and wellness market is expected to grow at a significant CAGR over the forecast period. The rising consumer interest in tailored nutrition solutions and increasing investment in health and wellness technologies is propelling the market growth.
The personalized retail nutrition and wellness market in France is anticipated to grow at the fastest CAGR over the forecast period. Increasing consumer awareness about personalized health solutions and a growing focus on preventative healthcare and wellness is boosting the market growth.
The Germany personalized retail nutrition and wellness market is expected to grow at a substantial CAGR over the forecast period, driven by a rising demand for customized health solutions, advancements in health technology, and increasing consumer interest in preventive healthcare.
Asia Pacific Personalized Retail Nutrition and Wellness Market Trends
The personalized retail nutrition and wellness market in Asia Pacific is anticipated to grow at the fastest CAGR of 17.06% from 2024 to 2030. This growth is increasing consumer awareness about health and wellness, rapid urbanization, rising disposable incomes, and advancements in digital health technologies and personalized nutrition solutions. In addition, a growing prevalence of lifestyle-related diseases and a rising demand for preventive healthcare measures are contributing to the market's expansion in the region. Key players are also investing heavily in research and development to offer innovative, personalized nutrition products and services, further boosting market growth.
The China personalized retail nutrition and wellness market is expected to grow at a significant CAGR over the forecast period. The increasing health consciousness among consumers, advancements in digital health technologies, and a growing demand for personalized health solutions. In addition, rising disposable incomes and government initiatives promoting healthy lifestyles are further propelling market growth. Thus, propelling the demand for personalized retail nutrition and wellness over the forecast period.
The personalized retail nutrition and wellness market in Japan is anticipated to grow at a significant CAGR over the forecast period. The aging population, increased focus on preventive healthcare, and rising consumer interest in personalized health and wellness solutions. The market growth is further supported by technological advancements in nutrition science and a growing trend toward customized dietary recommendations.
The India personalized retail nutrition and wellness market is anticipated to grow at the rapid CAGR over the forecast period. The advancements in technology and expanding digital platforms are facilitating the adoption of personalized nutrition and wellness products are driving demand for personalized products.
Middle East & Africa Personalized Retail Nutrition and Wellness Market Trends
The personalized retail nutrition and wellness market in the Middle East and Africa is expected to grow at a moderate CAGR during the forecast period, owing to increasing awareness about health and wellness, a rising prevalence of lifestyle-related diseases, and a growing interest in preventive healthcare solutions.
The Saudi Arabia personalized retail nutrition and wellness market is expected to grow at the fastest CAGR over the forecast period. Growing focus on health and wellness, increasing awareness of the benefits of personalized nutrition, and government initiatives promoting healthier lifestyles are driving demand for personalized retail nutrition and wellness products.
The personalized retail nutrition and wellness market in Kuwait is anticipated to witness at a significant CAGR over the forecast period. The rising demand for tailored health solutions and an increasing awareness of the importance of nutrition in maintaining a healthy lifestyle, is driving more individuals to seek preventive health measures, including personalized retail nutrition and wellness products.
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the global personalized retail nutrition and wellness market
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