Personalized Retail Nutrition And Wellness Market Size, Share & Trends Analysis Report By Recommendation (Fixed, Repeat, Continuous), By Region (North America, Europe, APAC, MEA, LATAM), And Segment Forecasts, 2020 - 2027
New York, March 05, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Personalized Retail Nutrition And Wellness Market Size, Share & Trends Analysis Report By Recommendation, By Region And Segment Forecasts, 2020 - 2027" - https://www.reportlinker.com/p05868753/?utm_source=GNW
The global personalized retail nutrition and wellness market size is anticipated to reach USD 3.1 billion by 2027., registering a CAGR of 8.5% over the forecast period. Increase in awareness about preventive healthcare and general well-being, trend of customization of food for a better diet, and rise in awareness about healthy food to promote nutrition and wellness are factors driving the growth of the market.
With advancements of personalized medicine, companies are engaged in the launch and retail of new products with the support of scientific research and regulatory agencies.Several regulatory agencies are also actively involved in overseeing personalized nutrition and wellness products.
The main objective of these agencies is to ensure the safety and effectiveness of these products through customized tests along with encouraging innovations.
Start-ups such as STYR, Food Marble, and Habit Food Personalized, LLC are actively involved in the development, commercialization, and retail of nutrition and wellness solutions and offer products such as nutraceuticals, dietary supplements, and functional foods. For instance, in February 2019, Segterra, Inc. entered into a partnership with Helix to commercialize its GoalGetter personalized model through Helix’s marketplace.
Further key findings from the report suggest:
• Repeat recommendation dominated the overall market in 2019 and this trend is expected to continue through the forecast period owing to an increase in the number of pregnant women and patients with cardiovascular disorders. These patients require monitoring on a regular basis, thereby driving the segment growth
• Dietary supplements and nutraceuticals for repeat recommendation is expected to register the highest CAGR from 2020 to 2027. This is attributed to the rise in awareness regarding the importance of a nutrient-rich diet
• Protein segment for fixed recommendation dietary supplements and nutraceuticals dominated the market due to high adoption of protein-rich foods
• Modifications in the regulatory scenario for functional foods and wide accessibility and retail of fortified products have enhanced the growth of the functional foods segment across fixed, continuous, and repeat recommendations
• North America generated the highest revenue in 2019 and this trend is expected to continue through 2027. This is attributed to the presence of well-established biotechnology and food technology sectors in the region
• Nima Labs, Inc.; STYR Labs; DNANudge; DayTwo Ltd; Food Marble; Allergy Amulet; Bayer AG; Pfizer, Inc.; and GlaxoSmithKline plc are some of the players operating in the personalized retail nutrition & wellness market for personalized retail nutrition and wellness
• These companies are involved in extensive research and development activities for the launch and retail of novel personalized wellness and nutrition solutions
Read the full report: https://www.reportlinker.com/p05868753/?utm_source=GNW
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