Global Dietary Supplements in the age of Personalized Nutrition Market is anticipated to expand moderately at a CAGR of 6.90% during the forecast period of 2017-2023. Increasing awareness regarding the necessity of nutrients in daily diet and rise in popularity of fitness programs are primarily propelling the expansion of the global dietary supplements in the age of personalized nutrition market.
Increasing incorporation of technologically advanced research and manufacturing processes in the pharmaceutical and healthcare industry along with the high demand for personalized medication are also fueling the growth of the global dietary supplements in the age of personalized nutrition market. However, concerns regarding the side effects cause by these supplements are likely to act as restraining factors for the growth of the global dietary supplements in the age of personalized nutrition market during the forecast period.
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The major players profiled by MRFR that are operating in the global dietary supplements in the age of personalized nutrition market are Nestlé Health Science, Danone Nutricia, Carlyle Group, Amway (Nutrilite), Archer Daniels Midland, Abbott Laboratories, Herbalife International, Amway, Danisco, Glanbia, Bayer AG, GlaxoSmithKline plc, Pfizer Inc., Balchem Corporation, Natures Product Inc., Bactolac Pharmaceutical Inc. and others.
In October 2018, Persona, a leading personalized vitamin program, has announced the launch of its new nutritional supplements that are specially designed to support healthy sleep pattern and healthy hair, nails and skin.
In September 2018, Nestlé has announced the that it is piloting a new personalized nutrition program in Japan named “Wellness Ambassador”, which combines DNA testing, artificial intelligence and meal analysis to collect consumer data on diet and health.
The global dietary supplements in the age of personalized nutrition market has been segmented on the basis of product category, gender, application, dosage form and end user.
Based on product category, the market has been segmented into vitamins, herbs & botanicals, sports supplements, meal supplements, minerals and other.
Based on application, the market has been segmented into lifestyle diseases, inherited diseases, genetic predispositions and others. Based on gender, the market has been segmented into female and male.
The female segment has been sub-segmented into 55 + age group, 35-54 age group, 19-34 age group, and 0-18 age group. The male segment has also been sub-segmented into 55 + age group, 35-54 age group, 19-34 age group, and 0-18 age group. Based on dosage form, the market has been segmented into tablets, capsules, powder, liquids, soft gels and others. Based on end users, the market has been segmented into hospitals & clinics, home care, and others.
The Global Dietary Supplements in the Age of Personalized Nutrition Market has been geographically segmented into four major regions such as the Americas, Europe, Asia Pacific and the Middle East and Africa. Among these, the Americas command for the major share in the global dietary supplements in teh age of personalized nutrition market owing to the presence of leading manufacturers, high healthcare expenditure by the population of this region and utilization of advanced technology for the production of personalized drugs and supplements in this region.
Increased research in the nutrition industry for the development of personalized dietary supplements by studying the DNA, dietary habits and other factors in an individual is majorly propelling the expansion of teh dietary supplements in the age of personalized nutrition market.
Improving economic conditions, increasing geriatric population, government support for research and development in teh healthcare sector and rise in awareness regarding the health benefits of dietary supplements are boosting the dietary supplements in the age of personalized drugs market in the Asia Pacific region. Whereas, low penetration of proper healthcare services and lack of awareness among the population of the underdeveloped regions are leading to the slow growth of the dietary supplements in the age of personalized nutrition market in the Middle East and Africa market.
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