Increasing prevalence of nutritional deficiency disorders and growing awareness of health & wellness among the population are some of the key factors driving market revenue growth.
Increasing prevalence of nutritional deficiency disorders and growing awareness of health & wellness among the population are some of the key factors driving market revenue growth
According to Emergen Research, the global nutrigenomics market size was USD 389.4 million in 2020 and is expected to reach USD 1,289.7 million in 2028 and register a revenue CAGR of 16.2% during the forecast period, 2021-2028.
Market Dynamics:
Rising prevalence of nutritional deficiency disorders such as vitamin D deficiency, folate deficiency, iron deficiency anemia, vitamin K deficiency, hypocalcemia, osteomalacia, xerophthalmia, scurvy, pellagra, and rickets is a key factor expected to drive market revenue growth over the forecast period. Rising consciousness of health & wellness among the population, increasing consumption of nutritious food to mitigate risks of heart diseases, diabetes, and other chronic diseases, and growing awareness of the benefits of nutrigenomic testing are some other factors expected to contribute to market growth. In addition, rising trends of health & fitness and growing demand for personalized nutrition products, especially among athletes and fitness enthusiasts are some other major factors expected to further fuel market revenue growth.
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Nutrigenomics is a branch of science concerned with genetic science and how our diets affect our genetic functions. In simpler terms, it studies how genetic differences in the body determine its reaction to various nutrients. Nutrigenomic testing helps identify and evaluate various genetic markers. The test also aids in identification of particular areas of metabolic weakness, and hence, prevents diet-associated diseases. Market revenue growth, however, is expected to be hampered to some extent due to factors such as high costs of nutrigenomic testing, rising concerns about confidentiality of one’s genetic information, and lack of skilled healthcare professionals.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Reagents & Kits Segment Accounted for Largest Revenue Share in 2020:
The reagents & kits segment dominated other segments in terms of revenue share in the global market in 2020. Rising popularity of the concept of personalized nutrition among consumers, growing demand for nutrigenomic testing kits – which offer personalized diet plans based on the user’s genetic, phenotypic, and medical information – and rising focus on minimizing risks of health conditions such as diabetes and obesity are major factors driving this segment’s revenue growth.
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Obesity Segment to Account for Fastest Revenue CAGR:
The obesity segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Rising prevalence of obesity due to growing affinity towards unhealthy fast food and sedentary lifestyles is one of the primary factors contributing to this segment’s revenue growth. As per the World Health Organization (WHO), obesity has become one of the world’s leading causes of death, with over 2.8 million overweight or obese people dying every year.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America nutrigenomics market accounted for the largest revenue share in the global market in 2020. Rising burden of nutritional deficiency disorders, increasing prevalence of obesity, diabetes, and heart diseases, growing consumption of nutrient-rich foods & beverages, rising awareness of nutrigenomic testing and its benefits, rise in R&D activities in the field of nutrigenomics, and presence of key players in the region, including Genova Diagnostics and Nutrigenomix Inc., are some major factors expected to drive the North America market revenue growth.
Major Companies in the Global Nutrigenomics Market Include:
- Koninklijke DSM N.V.
- BASF SE
- Danone S.A.
- Unilever plc
- Genova Diagnostics
- Nutrigenomix Inc.
- Metagenics, Inc.
- GX Sciences Inc.
- Cell-Logic
- Xcode Life
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For the purpose of this report, Emergen Research has segmented the global nutrigenomics market based on product, application, and region:
Product Outlook (Revenue, USD Million; 2018–2028)
- Reagents & Kits
- Services
Application Outlook (Revenue, USD Million; 2018–2028)
- Cardiovascular Diseases
- Cancer Research
- Obesity
- Diabetes
- Others
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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