Nutrigenomics Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026, Segmented By Product & Services (Services (Nutrigenomics Genetic Testing), Product), By Product (Vitamins & Supplements, Probiotics, Prebiotics) By Technique (Saliva/Buccal Swab, Blood, Others), By Application (Obesity, Cancer Research, Cardiovascular Diseases, Digestive Health, Others),
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationNutrigenomics Market - Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2016-2026, Segmented By Product & Services (Services (Nutrigenomics Genetic Testing), Product), By Product (Vitamins & Supplements, Probiotics, Prebiotics) By Technique (Saliva/Buccal Swab, Blood, Others), By Application (Obesity, Cancer Research, Cardiovascular Diseases, Digestive Health, Others),
Global nutrigenomics market stood at USD785.38 million in 2020 and is expected to grow at a steady CAGR of 10.88% during the forecast period. The market's growth might be ascribed to a growing knowledge of healthy foods and their influence on the population's genetic morphology. Additionally, in the next five years, the worldwide nutrigenomics industry will be driven by an increase in the prevalence of obesity among the world's young and adult populations.
The growing demand for tailored diets among athletes and sports fans, as well as an increasing propensity among the general public to live a healthy lifestyle, is fueling the worldwide nutrigenomics market. Furthermore, preventive measures to combat poor lifestyles and unhealthy eating habits, as well as the rising incidence of cardiovascular diseases, will move the global nutrigenomics market forward in the next five years.
Malnutrition and a lack of nutritional meals on a regular basis further limit the market's potential growth. Furthermore, cancer research based on individual nutrition, which claims that food regulation might reduce cancer symptoms, is fueling the global nutrigenomics market's rise in the projected period, until 2026. Furthermore, advancements in dermatology, food and beverages, and accurate diagnosis of metabolic and genetic illnesses are all contributing to the global nutrigenomics market's projected growth in the next five years.
Moreover, throughout the projected period, the market is expected to increase due to thriving healthcare industry and rising healthcare expenditure by both governments and populations around the world. Furthermore, cardiovascular illnesses are the most common and leading causes of death in the world. Ischemic heart disease is responsible for 16% of all deaths worldwide, according to WHO's 2020 updates. Since 2000, the number of deaths from ischemic heart disease has increased by more than 2 million, to 8.9 million in 2019.
Sudden Outbreak & Spread of COVID-19 Driving Market Growth
The rising number of people infected with the virus had a substantial impact on medical care around the world. The global pandemic of COVID-19 has brought the world's economies to a halt. Governments imposed lockdown in 2020 to contain the spread of the coronavirus disease. This disease is very contagious and spreads primarily through human contact.
Increasing the consumption of good nutritious food to acquire high immunity to battle this life-threatening illness became an urgent need at this time. The nutrigenomics sector had a drop in demand during the shutdown, but because of the circumstances and increased public awareness about the need for a healthy diet, the nutrigenomics industry has reached new heights in the market worldwide.
Growing Demand for Personalized Solution Supporting Market Growth
The nutrigenomics market is quickly expanding due to an increase in personalized nutrition and food safety evaluation. Athletes and sports fans are actively seeking a tailored diet, and the general public's increased inclination toward better lifestyles is helping the worldwide growth of the nutrigenomics market.
Various developments in the global market in the field of nutrition and diet also had a favorable impact on the nutrigenomic industry. In addition, numerous governments are supporting new innovations and technological advancements in the field of genetic technology, supporting the growth of this market.
Rising Incidence of Cancer Cases Supporting Market Growth
Increasing cancer patients worldwide are driving the growth of the market. According to the Globocan Database, cancer caused roughly 19,292,789 new cases and 9,9581,33 deaths in 2020. Between 2018 and 2040, the number of new cancer cases is expected to rise from 18.1 million to 29.4 million. Furthermore, adequate diet nutrition may minimize cancer susceptibility on an individual level, enhancing the total market.
Increasing Healthcare Expenditure to Support Market Growth
The existing healthcare and genetic testing industry is predicted to benefit from rising healthcare expenditures in various regions throughout the world. This, in turn, is predicted to have a positive impact on market growth through 2026. According to the World Health Organization, healthcare spending worldwide was over USD8.3 trillion in 2018, accounting for nearly 10% of the global GDP, and it is likely to rise dramatically in the future years.
The sudden breakout and spread of the COVID-19 pandemic, on the other hand, raised the demand for healthcare services while spending on lifestyle and other diseases decreased across countries. This expenditure is likely to rise in the coming years owing to the rising demand for various healthcare services and medical devices, creating the potential for the global nutrigenomics market.
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Market Segmentation
The global nutrigenomics market is segmented into product & services, technique, applications, company, and regional distribution. Based on product & services, the market is further divided into products which include vitamin & supplements, probiotics, and prebiotics, and services including nutrigenomics genetic testing. In terms of technique, the market can be categorized into saliva/buccal swab, blood, others.
Based on country, the United States nutrigenomics market is anticipated to grow at a CAGR of 12.07% to reach USD386.17 million by 2026. Increasing demand for personalized nutrition is propelling the growth of the nutrigenomics market through 2026.
Company Profiles
BioGaia, DuPont de Nemours, Inc., Nutrigenomix Inc., 23andMe, Inc., Metagenics, Inc., Genova Diagnostics Inc., DNA fit, MedGenome, Garden of Life, LLC., GeneOmbio, WellGen Inc., XCODE Life., Koninklijke DSM N.V., Jarrow Formulas Inc., Ingredion Incorporated are among the major market players in the global Nutrigenomics market. The sector can now give superior services through nutrigenomics thanks to advanced technologies.
In the next five years, further progress would help the market value and brand establishment. New market players may concentrate on research and development in order to create options that meet both customer demand and help market players increase their brand value. Mergers and acquisitions, as well as new product creation, are other competitive strategies.
| Attribute | Details |
| Market Size Value in 2020 | USD785.38 Million |
| Revenue Forecast in 2026 | USD1394.43 Million |
| United States Market Size Value in 2020 | USD205.94 Million |
| Growth Rate | 11.14% |
| Base Year | 2020 |
| Historical Years | 2016 – 2019 |
| Estimated Year | 2021 |
| Forecast Period | 2022 – 2026 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2016-2020 and 2021-2026 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered |
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| Regional Scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country Scope | United States; Canada; Mexico; Germany; France; United Kingdom; Spain; Italy; China; India; Japan; South Korea; Australia; Germany; France; United Kingdom; Spain; Italy; Saudi Arabia; UAE; South Africa; Kuwait; |
| Key Companies Profiled | WellGen Inc., Metagenics, Inc., Genomix Nutrition, Inc., Nutrigenomix Inc., 23andMe, Inc., Genova Diagnostics Inc, DNAFit Life Sciences Ltd, BioGaia, DuPont de Nemours, Inc., MedGenome. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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