The rise of personalized nutrition is providing fresh impetus and new opportunities within the market for dietary supplements. This report considers the evolving landscape of the supplements industry.
Personalized nutrition offers manufacturers the chance to develop an ongoing relationship with consumers rather than a single transactional approach. This benefits both suppliers, who can build a base of loyal customers, and consumers, who gain a personalized and dedicated service.
Although the growth of the global market for vitamins, minerals, and supplements has slowed in recent years, the personalized nutrition trend will push growth at a CAGR of 6.5% from an estimated total value of $93bn in 2015 to $127bn in 2020.
In 2015, WellPath joined forces with 23andMe and FitBit to offer a service to customers that provides customized packages of monthly supplements based on an unprecedented level of personal information.
The objective of "Dietary Supplements in an Age of Personalized Nutrition" is to examine the effects of personalized nutrition on the global dietary supplements industry. The content outlines the different approaches to personalized nutrition, with current examples of innovation and best practice within the marketplace. The report considers how the rise of personalized nutrition will impact on the global market for dietary supplements over the short-to-medium term, and offers suggestions and recommendations to manufacturers for achieving success within this new landscape.
Assess the different approaches to personalized nutrition, with current examples of innovation and best practice within the marketplace.
Use market data to examine the current value in the market, and how this will change moving forward.
Consider recent controversies in personalized nutrition, including ethical concerns, lack of regulation, data confidentiality, and gene patenting.
Identify companies and collaborations that have achieved success in this market.