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Home›Dietary nutrition›Personalized diet | INITIATED Natural Products

Personalized diet | INITIATED Natural Products

By Rebecca C. Myers
November 9, 2022
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Personalized nutrition has been a tough problem for our industry. Despite growing consumer desire, no one type of personalization seems to have established itself as the best or most accurate. But that doesn’t seem to matter. According Data Bridge Market Research“Global Personalized Nutrition Market was valued at USD 9.06 Billion in 2021 and is projected to reach USD 20.14 Billion by 2029, registering a CAGR (Compound Annual Growth Rate) of 10.5% in during the forecast period 2022-2029.”

This market growth is an important factor for the supplement industry. It also opens up opportunities for new and emerging technologies in space.

The following article is based on a webinar featuring experts from the Nutrition Business Journal and its report on personalized nutrition.

If you want to see or listen to this information in more detail, subscribe to SupplySide 365 Network. Here you’ll find monthly educational webinars as well as on-demand content relevant to the health and nutrition industry.

Define the personalized nutrition market

Today, we define personalized nutrition as the process of purchase and continued use includes some type of information gathering about health, goals, needs, etc. of the buyer. According to Nutrition Business Journal, four main categories of testing serve the personalized nutrition market:

  • Survey-based tests, which focus exclusively on online surveys and questionnaires
  • Microbiome tests to assess personal nutritional data
  • Biomarker testing, which includes taking a blood or urine sample to measure biometrics or current nutritional status
  • Genetic tests that analyze DNA for individual nutritional information and biometrics

Across all categories of personalized nutrition testing, survey-based testing has proven to be a sales leader according to NBJ. Although sales of biomarker supplements grew by 259% in 2020 and 98.2% in 2021, survey-based testing continues to be the dominant player for the foreseeable future. NBJ has predicted that survey-based supplement sales will reach over $1 billion by 2025.

According to 2021 data shared by NBJ, sales increased by $98 million i for the survey-based category, which was greater than the total sales for the combined test-based subcategories, including microbiome. , biomarkers and genetic testing. Despite previous year-over-year growth for microbiome testing, NBJ projects a slow decline over the next five years.

Overview of Consumers in the Supplements Industry

Beyond sales, personalized nutrition programs have proven to have a strong impact on consumer lifestyles. Results from the NBJ survey indicated that an additional 8% of people increased their supplement consumption due to test results.

According to Erica Romme Craft, industry analyst for NBJ, “It’s clear that current personalized nutrition users are adopting new behaviors in response to individualized test results.”

More than half of respondents said they would spend up to 50% or more per month for a personalized supplement service compared to a standard (non-personalized) service. Only 5% of respondents indicated that they would not pay more for a personalized supplement program.

Craft summed up these results as an indication of consumers’ willingness to spend more on personalized services. However, consumer loyalty would be stronger if services could prove the effectiveness and quality of a brand’s product or test metrics.

According to SupplySide Vice President and Market Leader Jon Benninger, the supplement industry has a bright future. “It’s still early, and it’s evolving. I look at some of the industry numbers, and it looks like a bright future…lots of growth and lots of loyalty…even the companies that are in the space seem to be showing very good results.

Another unexpected report detail is the personalized personality of the nutrition consumer. Craft noted that many consumers in the personalized nutrition space are expected to be health-focused shoppers who want to optimize their health. Still, the survey results showed that a number of average consumers are entering this nutrition niche market. According to Craft, the widespread accessibility of survey-based testing opens up market growth potential for brands.

Expanding on the ease of survey-based testing, NBJ editor Rick Polito said, “Customers are very relieved…someone looked into my situation to some degree and told me what to take. , and it’s gonna show up every month on my doorstep…it fills a need that goes beyond optimization…convenience and trust. Polito said the consumer satisfaction and perceived value associated with these tests add to this growing industry.

Consumers pay more for personal nutrition programs

According to Craft, the value of the product combined with its effectiveness and convenience will encourage consumers to invest in personalized supplement programs. This is especially true for health-conscious shoppers.

By demonstrating the value of their product through proven metrics, organizations can set a price that won’t be challenged by consumers. She noted that there is a major market opportunity in the supplement industry for brands to supply the supplement and then test it after use to prove the effectiveness of the product.

In addition to the value of customization, Polito drew attention to the difference between buying supplements from a retail store and a subscription-based model. “When we talk about price, we have to talk about the difference between a subscription and walking into Whole Foods, reaching out and buying that bottle and looking at the price. You sign up for something, it just pops up and we forget about it.

He added that the individualized element of supplements helps companies maintain longstanding relationships with consumers. Polito said the high satisfaction rate, subscription convenience, and brand-to-consumer relationships will continue to support personalized supplement sales for the foreseeable future.

Additionally, it is crucial to consider that the prices vary considerably between supplements and nutritional programs. Benninger said, “When you talk about price and all the different approaches to personalized nutrition, there’s huge variation in the types of services offered and the price of those services.” Program pricing varies across the industry based on different approaches and services.

Integrating nutrition and technology

Health and wellness technologies continue to evolve along with the supplement industry. Wearable devices and their apps can track steps, sleep, workouts, and heart rate variability. As for wellness technologies that integrate with nutrition, Craft noted that Insight Tracker combines tracking technology with nutritional information.

Polito referred to the continuous glucose monitor, which should continue to be widely used. “It could profoundly change what we are talking about here. People love data, and people want to know what theirs is. He noted that seamless use of technology, like carrying a phone, will help the adoption and growth of new wellness devices. “Innovative technology is the biggest market opportunity in the supplement industry,” he said.

In the future, the healthcare and insurance industries may also have the ability to leverage personalized nutritional data. However, given the challenges associated with institutional changes, evidence-based medicine still has a long way to go before widespread implementation.

In summary, the NBJ Personalized Nutrition Report confirms that personalized nutrition continues to grow and influence the industry. As individualized nutrition continues to mature, it retains its place as a game changer in a growing dietary supplement industry.

Learn more about Nutrition Business Journal

As the leader in nutrition and supplement industry reporting, the Nutrition Business Journal (NBJ) recently published an in-depth report on the personalized nutrition market. NBJ has been an expert in nutrition, natural product and supplement industry tracking and reporting for 25 years. The organization specializes in global market sizing and trends, with in-depth knowledge of the US market. Specifically, NBJ provides industry insights into what consumers buy, why they buy and where they shop.

The Nutrition Business Journal’s Personalized Nutrition report published in February 2022 includes the latest data on US market size, consumer research, company profiles and personal information. The report offers a comprehensive analysis of the personalized nutrition industry trends and forecasts. To access NBJ reports and issues, please visit https://store.newhope.com/.

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