U.S. Personalized Nutrition & Supplements Market Growth & Trends
The U.S. personalized nutrition & supplements market size is anticipated to reach USD 12.92 billion by 2030 and is projected to expand at a CAGR of 16.28% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing consumer health awareness and growing demand for retail nutrition products are expected to drive the market growth.
The impact of the COVID-19 has led to a decline in the growth rate of the U.S. personalized nutrition & supplements market. Owing to the lockdown norms across the globe, users were prevented from accessing clinics and stores, while professionals were compelled to halt testing on which the recommendations are based. Various organizations have recognized the importance of personalized nutrition in relation to COVID-19. For instance, in March 2020, the American Nutrition Association announced the launch of a resource hub for personalized nutrition and COVID-19. The portal contains a rapid review by the professional to educate healthcare professionals. This factor has impelled the growth of the market and is anticipated to propel exponentially over the forecast period.
In addition, the increasing incidence of lifestyle diseases, growing concerns about inadequate nutrition, and a large geriatric population are some of the key factors responsible for the rise in demand for retained nutrition products. With the increase in the incidence of various illnesses, U.S. citizens are adopting a healthy lifestyle to obtain optimum nutrition for preventing them. According to Diana Food, the COVID-19 pandemic shifted consumers' preference toward personalized nutrition. Thereby propelling the growth of the U.S. personalized nutrition & supplements market over the forecast period.
Moreover, supplements are highly regulated and monitored by officials. The purpose of the regulation is to increase consumer protection and ensure the fulfillment of labeling requirements by companies. The U.S. FDA regulated dietary ingredients and finished supplement products under conventional foods & drug products. Under the regulations, manufacturers and distributors of supplements are prohibited from marketing products that are misbranded or adulterated. Thereby, challenging the growth of the market over the forecast period.
Request a free sample copy or view report summary: U.S. Personalized Nutrition & Supplements Market Report
U.S. Personalized Nutrition & Supplements Market Report Highlights
- Based on ingredient, the vitamins segment held the largest market share of 26.89% in 2023 based on ingredients. Vitamin supplements provide an easy way to fill any nutrient gaps that people might have in their diets. On the other hand, herbals/botanic are anticipated to grow at the fastest CAGR over the forecast period.
- In 2023, the tablets/capsules segment is anticipated to dominate the market share for the dosage form segment. However, the liquid segment is expected to grow at the fastest CAGR of 17.53% over the forecast period driven by its easier customization by adding various dosages of different nutrients to develop a personalized mix.
- Based on age group, the adults segment dominated with the largest share in 2023 and is anticipated to grow at the fastest CAGR over the forecast period. This growth is attributed to the fact that several companies are providing a wide array of tailored supplements, including customized multivitamins, probiotics, and protein powders, designed to meet the unique nutritional needs of adults.
- In 2023, the supermarkets/hypermarkets is anticipated to dominate the market share for the distribution channel segment. However, the online pharmacies & e-commerce site segment is expected to grow at the fastest CAGR over the forecast period. Various factors such as price discounts, at-home delivery, and convenience in ordering are the key determinants of growth in the market.
Access Press Release@ https://www.grandviewresearch.com/press-release/us-personalized-nutrition-supplements-market-analysis
U.S. Personalized Nutrition & Supplements Market Segmentation
Grand View Research has segmented the U.S. personalized nutrition & supplements market on the basis of ingredients, dosage form, age group, and distribution channel:
U.S. Personalized Nutrition & Supplements Ingredient Outlook (Revenue, USD Million, 2018 - 2030)
- Proteins & Amino Acid
- Vitamins
- Minerals
- Probiotics
- Herbal/Botanic
- Others
U.S. Personalized Nutrition & Supplements Dosage Form Outlook (Revenue, USD Million, 2018 - 2030)
- Tablets/Capsules
- Liquids
- Powders
- Others
U.S. Personalized Nutrition & Supplements Age Group Outlook (Revenue, USD Million, 2018 - 2030)
- Pediatrics
- Adults
- Geriatric
U.S. Personalized Nutrition & Supplements Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)
- Supermarkets/Hypermarkets
- Specialty Stores
- Retail Pharmacies
- Online Pharmacies & E-commerce Site
List of Key Players in the U.S. Personalized Nutrition & Supplements Market
- Viome Life Sciences, Inc.
- DSM Nutritional Products AG
- Thorne
- HUM Nutrition, Inc.
- GenoPalate Inc
- Pharmavite
- GNC Holdings, LLC
- The Vitamin Shoppe
- Nestlé Health Science (Nestlé)
- Baze Labs
- InVite Health
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment