Nutrigenomics Market Overview
Following the analysis of the latest trends across the globe, Market Research Future (MRFR) states that the nutrigenomics market is projected to reach the valuation of USD 17,313.5 Million by 2023. In addition, the market is expected to surge at a growth rate of 16.8% during the forecast period (2014-2023).
The boost in the awareness levels among consumers coupled with the rising prevalence of obesity across the globe is predicted to be a crucial factor elevating the Nutrigenomics market position of nutrigenomics. The surging trend of personalized diet, particularly among athletes will also be beneficial for the market in the near future. The growing significance of nutrition-rich food as one of the preventive measures to treat obesity and similar ailments, numerous cardiovascular diseases, as well as malnutrition is also presumed to work in favor of the market in the years ahead. In addition, cancer research on the basis of the nutrition of the individual is also on rise, with several scientists stressing on the importance of diet regulation as mean to prevent the risk of cancer.
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Other than this, nutrigenomics helps bridging the gap between genetics and their reaction to the type of diet being followed by an individual. For example, the advancement of gluten- and lactose-free food are believed to be changes that have been created as per certain gene variants, leading to gluten and lactose intolerance.
Global Nutrigenomics Market Segment
The global nutrigenomics market has been segmented on the basis of products, techniques and application.
Depending on the product, the market has been considered for reagents kits and services.
Technique-wise, the market has been segmented based on saliva, buccal swab, blood and others.
Application-based segments in the market include obesity, diabetes, anti-aging and chronic diseases, where obesity has been identified as the biggest market segment on account of unhealthy food choices and sedimentary lifestyles prevalent around the world. Also, few medical conditions lead to obesity, and can be treated with nutrigenomics.
Nutrigenomics Market Key Players:
XCODE Life Science Pvt. Ltd., Genomix Nutrition Inc., NutraGene, Cura Integrative Medicine, Nutrigenomix, WellGen Inc., are some of the leading players in the global nutrigenomics market.
among others are some key companies in the global Nutrigenomics Market that are listed by MRFR for market research.
Nutrigenomics Market Regional Analysis
A regional analysis of the worldwide nutrigenomics market has been done for the Americas, Asia Pacific (APAC), Europe, and Middle East Africa.
The largest market has been bagged by the Americas, mainly due to the presence of developed nations such as the United States (U.S.) as well as Canada. The regional market is slated to expand over the following years on account of the emergence of direct to consumer nutrigenomics kits coupled with the growing intake of specialized food as well as diet within the region. Recent reports based on a survey suggests that in nine nations in the region, at least 9000 individuals are accepting of nutrigenomics and are ready to adopt it, as long as the legal guarantee is provided so that the genetic data is not misused.
Right behind the Americas is the market in Europe, owing to a similar growth trajectory. The splendid growth pattern is the result of the strong adoption rate of advanced technology, well-established healthcare medical research industry and increasing lifestyle diseases. Data analysts predict that the Europe will be surging at a CAGR of 17% during the evaluation time frame.
Asia Pacific is poised to expand at a quick rate from 2017 to 2023, with the support of favorable factors like growing awareness with regard to health and treatments, increasing spending on healthcare and the hike in the demand for holistic treatments. The nutrigenomics market share of the region is touted to elevate at a growth rate of 17.1% in the coming years. Moreover, the rising demand for functional foods beverages has given a significant boost to the adoption rate of nutrigenomic techniques within the region. Japan is acknowledged as the biggest consumer of functional foods in Asia Pacific, which will stimulate the growth of the regional market in the forthcoming years.
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