The Road Ahead for the Personalized Retail Nutrition And Wellness Market: Key Growth Trends and Opportunities to Watch
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What CAGR is Anticipated for the Personalized Retail Nutrition And Wellness Market During the Forecast Period, and Why?
The market size for personalized retail nutrition and wellness has experienced a swift expansion lately. The projected progression sees an increase from a value of $4.15 billion in 2024 to a value of $4.93 billion in 2025 with a compound annual growth rate (CAGR) of 18.8%. The observed growth during the past period is linked to increasing chronic illnesses, developments in nutritional science, educational efforts and awareness initiatives, heightened mindfulness towards health and wellness, and a shift towards personalized healthcare.
In the coming years, the personalized retail nutrition and wellness sector is projected to experience substantial growth. By 2029, its market size is predicted to soar to $9.71 billion with a compound annual growth rate of 18.5%. This robust growth expected in the forecast period can be ascribed to the proliferation of e-commerce and retail outlets, surging demand for functional foods and supplements, development of digital healthcare platforms, customized nutritional enhancements, and growth of personalized meal delivery services. Noteworthy trends anticipated during the forecast timeline consist of data science and AI integration, expansion in functional foods and protein supplement sector, incorporation of biosensors and wearable devices, groundbreaking solutions, and the enlargement of digital healthcare platforms.
What Market Dynamics Are Playing a Key Role in Accelerating the Growth of the Personalized Retail Nutrition And Wellness Market?
The escalating trend towards a healthier way of living is anticipated to fuel the expansion of the personalized retail nutrition and wellness market. A healthier way of living includes behaviors that encourage good health, decrease the incidence of diseases, and enhance lifespan. The upsurge in healthier lifestyle choices is propelled by an increase in consumer consciousness about the crucial role of nutrition, wellness, and prophylactic healthcare, and the necessity to knowingly make decisions that boost their overall health. Personalized retail nutrition holds an important position in encouraging healthier lifestyle adoption by offering unique dietary suggestions that are suited to individual health objectives, tastes, and nutritional necessities. For instance, the Good Food Institute, a non-profit organization based in the US, stated in April 2023 that the global retail sales of plant-based meat and seafood totaled $6.1 billion in 2022, reflecting an 8% revenue growth and a 5% weight increase. Therefore, the mounting trend towards a healthier lifestyle is pushing the growth of the personalized retail nutrition and wellness market.
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Which Companies Are Poised to Shape the Future of the Personalized Retail Nutrition And Wellness Market?
Major companies operating in the personalized retail nutrition and wellness market are:
• Archer Daniels Midland Company_x000D_
• Danone S.A._x000D_
• General Mills Inc._x000D_
• Cargill Incorporated_x000D_
• Herbalife International of America Inc._x000D_
What Are the Latest Innovations and Trends Influencing the Personalized Retail Nutrition And Wellness Market?
Leading businesses in the personalized retail nutrition and wellness market are increasingly investing in the creation of cutting-edge technology solutions, like digital platforms utilizing innovative insights tools, to offer precise dietary advice, boost user interaction, and improve health results using information-based tactics. Digital platforms include online platforms, apps, or tools that deliver tailored guidance, data evaluation, and support for the health objectives and dietary necessities of individuals. For example, Albertsons Companies, Inc., an American grocery store firm, unveiled the most recent digital upgrade to its Sincerely Health platform in August 2023. This is a nutrition insights tool which analyzes grocery purchases against the USDA’s MyPlate guidance serving recommendations. This platform enables users to establish nutritional objectives, accumulate healthy points and rewards, and utilize extensive wellness management features, all readily available via 16 grocery apps and websites. The USDA’s MyPlate program offers advice for eating five food group components, exemplifying a healthy diet, including fruits, vegetables, grains, protein sources, and dairy or fortified soy alternatives, as well as promoting overall healthy eating. Linking a patron’s loyalty account to their Sincerely Health profile allows the nutrition insights tool to assess past and anticipated grocery purchases and automatically calculate how many of their foods comply with the MyPlate dietary norms.
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Which Segments of the Personalized Retail Nutrition And Wellness Market Hold the Most Potential for Future Development?
The personalized retail nutrition and wellness market covered in this report is segmented –
1) By Product Type: Dietary Supplements, Functional Foods, Functional Beverages
2) By Application: Male, Female, Children
3) By End-User: Hospitals And Clinics, Wellness And Fitness Centers
Subsegments:
1) By Dietary Supplements: Vitamins And Minerals, Proteins And Amino Acids, Herbal And Botanical Supplements, Omega Fatty Acids, Probiotics AndPrebiotics, Weight Management Supplements, Sports Nutrition Supplements, Others (Joint Health, Immune Support)
2) By Functional Foods: Fortified Dairy Products (Fortified Milk, Yogurt), Functional Snacks ( Protein Bars, Nutrient-Dense Snacks), Cereals And Grains, Functional Breads, Fortified Bakery Products, Functional Meat Products, Functional Fats And Oils, Others ( Ready-To-Eat Meals With Added Nutrients)
3) By Functional Beverages: Nutrient-Enriched Water ( Vitamin Water), Functional Juices (Detox Juices, Immune-Boosting Drinks), Protein Beverages, Sports And Energy Drinks, Tea And Coffee ( Infused With Functional Ingredients Like Adaptogens), Functional Soft Drinks, Alcoholic Functional Beverages ( Low-Sugar, Fortified Alcohol), Others ( Kombucha, Kefir)
What Regions Are Contributing Significantly to the Growth of the Personalized Retail Nutrition And Wellness Market?
North America was the largest region in the personalized retail nutrition and wellness market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the personalized retail nutrition and wellness market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is the Scope and Reach of the Personalized Retail Nutrition And Wellness Market Defined?
Personalized retail nutrition and wellness refers to a specialized area within the healthcare industry that focuses on providing customized nutrition and wellness solutions to individuals. It utilizes a combination of advanced data analytics, genetic testing, and personalized coaching to create customized nutrition plans and wellness programs tailored to each individual’s unique health needs and goals.
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