Nutrigenomics Market to Grow at a CAGR of 10.88% During the Forecast Period
Rising demand for personalized
nutrition is driving the growth in global nutrigenomics market in the forecast
period, 2022-2026
According
to TechSci Research report, “Nutrigenomics Market - Global Industry Size,
Share, Trends, Competition, Opportunity, and Forecast, 2016-2026”, The
global nutrigenomics market stood at USD785.38 million in 2020 and is expected
to grow at a CAGR of 10.88% during the forecast period on account of rising demand for personalized nutrition diet
analysis and its increased awareness.
Nutrigenomics
is a branch of study concerned with the effects of genetic differences on the
nutritional environment, as well as the examination of food and its elements on
gene expression. In other
words, many nutrients have an impact on the human body and physiology. The impact
of these components on human genetics is also being investigated. Nutrigenomics
is the study of how nutrition alters the genetic elements of the human body on
a molecular level.
The
growing number of market participants also contribute significantly to the
global nutrigenomics industry's growth over the next five years. Obesity,
diabetes, and other lifestyle disorders are expected to increase in the next
five years, boosting the nutrigenomics industry worldwide. Poor lifestyle
choices, unhealthy eating habits, as well as an increased tendency of consumers
toward smoking and drinking, are significantly increasing the need for
nutrigenomics-influenced pharmaceuticals, assisting the expansion of the
nutrigenomics market worldwide in the next five years.
The increased number of
ongoing clinical studies can be attributed to the presence of government and
commercial funding agencies that are constantly giving grants to assist
initiatives at various stages of clinical trials. Apart from that, the high
cost of nutrigenomic testing, a scarcity of competent healthcare practitioners,
strict regulatory policies, and lack of awareness are some of the primary
challenges limiting the market's growth.
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The
global nutrigenomics market is segmented into product & services,
technique, applications, competitional analysis, and regional distribution.
Based on technique, the market is further fragmented into saliva/buccal swab,
blood, and others. In the next five years, the worldwide nutrigenomics market
would grow due to rising demand for personalized nutrition diet analysis and
increased awareness. Saliva/buccal swab are anticipated to hold the largest
revenue shares of 56.23% on the account of efficient, patient friendly and
effective technique for genome testing.
Moreover, studies over effects of
genetic material drawn from saliva/buccal swab provides better analysis result
and understanding thus, the saliva/buccal swab sample procedure is evolving,
which is expected to boost the global nutrigenomics market's growth over the
next five years. Based on product & services, among which genetic testing
services are anticipated to hold the largest revenue shares of the market and
dominate the market segment in the upcoming five years on account of increasing need for genetic
analysis, as well as dietary studies on its impact on genetic material and more
research and development cases.
In the next five years, the rise of genetic
testing services and kits will be aided by an increase in the number of
research institutes, as well as nutrigenomics experiments and various analytic
tests. Based on application, obesity holds the largest market share majorly
owing to the fact that people have started opting for pharmacogenetics testing
as a result of growing awareness about nutrition habits and a healthy food
lifestyle, food borne allergies, tailored nutrition, and a preference for
individualized health, among other things.
Based on product, the market is
further segmented into vitamin & supplements, probiotics, and prebiotics.
Vitamin & supplement holds the largest market share due to high vitamin and
mineral deficiency found in majority of the population which might lead to
several chronic diseases. Increasing awareness to cope with such deficiencies
and prevent such diseases and maintain healthy lifestyle is driving the growth
of the global nutrigenomics market in the upcoming five years.
Key
market players in the nutrigenomics market include:
- BioGaia AB
- DuPont de Nemours, Inc.
- Nutrigenomix Inc.
- 23andMe, Inc.
- Metagenics, Inc.
- Genova Diagnostics
- DNA fit
- MedGenome
- Garden of Life, LLC.
- GeneOmbio
- WellGen Inc.,
- XCODE Life.
- Koninklijke DSM N.V.
- Jarrow Formulas Inc.
- Ingredion Incorporated
Global
nutrigenomics market is fragmented with a lot of well-established players
having presence in several countries. 23andME, Inc holds the highest market
share and is among the top five market players globally. Metagenics ranks second in terms of market share in the overall
nutrigenomics testing market on account of strong presence worldwide even in
the emerging countries.
Additionally, there are other prominent players such as
BioGaia, DuPont de Nemours, Inc., Nutrigenomix Inc., Genova
Diagnostics, DNA fit, MedGenome, Garden of Life, LLC., GeneOmbio, WellGen Inc.,
XCODE Life., Koninklijke DSM N.V., Jarrow Formulas Inc., Ingredion Incorporated,
which are holding a significant position in the global nutrigenomics market.
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“North America is anticipated to hold
the largest revenue shares of the market in the upcoming market on the account
of availability of well-established healthcare industry. Furthermore, the
market's growth is being aided by the quick increase in studies and research in
the field, as well as the impact of nutrients on genetic material. New market
players are advised to invest and focus on the research and development of
nutrigenomics products and services for brand establishment. Collaborations
and regulated deals with the established market players are expected to help
the prospects of the new market players,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based Global management consulting
firm.
“Nutrigenomics Market - Global Industry Size, Share, Trends, Segmented
By Products & Services (Services (Nutrigenomics Genetic Testing),
Products), By Products (Vitamins & Supplements, Probiotics, Prebiotics) By
Technique (Saliva/Buccal Swab, Blood, Others), By Application (Obesity, Cancer
Research, Cardiovascular Diseases, Digestive Health, Others), By Region, Competition, Forecast
& Opportunities, 2026”, has
evaluated the future growth potential of global nutrigenomics and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global nutrigenomics market.
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