III. Industry Analysis
3.1 Market Size
The global personalized nutrition market size is projected to grow from $8.2 billion in 2020 to $16.4 billion by 2025, recording a compound annual growth rate (CAGR) of 15.0% during the forecast period. The increasing demand for personalized solutions due to rising health awareness, the growing trend of digital solutions for healthcare, and the aging population across regions are some of the significant factors projected to contribute to market growth. Furthermore, the shifting consumer trends, such as an increase in the preference for high-quality nutritional food, according to their nutrient profile, are projected to encourage the development of personalized approaches for nutrition, contributing to market growth. The size of the wellness market globally stood at $4.37 trillion in 2020 and is projected to grow to almost $7 trillion by 2025.
3.2 Industry Profile
The absence of healthy food from the diet plan due to the complicated and busy lives these days. The rising geriatric population and growing focus on preventive care by individuals fuel the growth of the nutrition and wellness consultation market. Increasing lifestyle disorders these days, with the surge in the levels of diabetes, heart disease, and other chronic diseases, also promote market growth and lead to a surge in demand for nutritionists and dieticians.
People across developed and developing countries are progressively searching for custom-made ways to deal with their well-being and health. With technological advancements, there have been developments that can offer the knowledge and information needed to generate custom nutritional plans effectively and efficiently. The rise in health consciousness among people all across the globe, owing to the increase in disposable income coupled with increasing health-related problems such as obesity, is the primary factor for market growth and development. The increasing demand for organic and natural food products is the driving factor for market growth and development. Organic food is different from conventionally and traditionally grown food because organic food is produced under a natural system of agriculture, without synthetic pesticides and fertilizers. Natural food products are made from organically available raw materials. The rise in popularity of these products results from the increasing awareness about the health benefits of organic food.
