Nutrigenomics Market is growing at a tremendous pace. The market is expected to grow at the CAGR of 16.8% during the forecast period and is estimated to reach USD 17,313.5 million by 2023.
Market Research Future (MRFR) Expects the Global Nutrigenomics Market to Achieve a Tremendous CAGR of 16.8% During the Forecast Period (2014-2023). It Could touch the Valuation of USD 17,313.5 Million by 2023, Reflecting its Terrific Growth Rate.
Growing prevalence of chronic diseases like diabetes and disorders like obesity are defining the demand for dietary advice or clinical nutrition, ultimately mirroring the importance and demand for Neutrigenomics. The amount of traction Nutrigenomics as a science is gaining today, defines the expanded landscape of the Nutrigenomics market on the global platform currently.
Accrediting the phenomenal growth of the Nutrigenomics market and the potential this Science holds to evolve further and accrue the exponential market growth in the years to come, the Market Research Future, recently published a meticulous study report giving out a complete market prognosis up till 2023. In the market analysis, asserting the exponential growth prospects the market is to perceive within next six years, MRFR confirms that the global Nutrigenomics market will ascend to the market size of USD 17,313.5 million registering a whooping double digit CAGR of 16.8% during the forecast period (2017 – 2023).
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The Global Nutrigenomics Market is mainly driven by the burgeoning markets such as Clinical Nutrition, Medical Nutrition, Sport Nutrition, and Animal Nutrition among other. Nutrigenomics has also evolved in Animal Care (Companion Care, Pet’s Nutrition/ Animal Nutrition etc.) exploring the growth prospects investigating and analysing the nutrition requirements of Animals based on their genetic make-up. The nutritional approach may not yield the best outcome and that each species often has a slightly different nutrient requirement regardless of similarities between breed, training regime, age etc. Additionally, increasing healthcare expenditure, and government support for research & development has fuelled the market growth.
Moreover, growing prevalence of diseases requiring additional nutrients and increased awareness among population about the benefits of dietary advice on foods and beverages. Changing life style such as habitual smoking, alcohol, extended work hours and reliance on fast-food has resulted into lack of adequate nutrients coupled with obesity prevalence that is also one of the reasons contributing to the growth of Nutrigenomics market. Also, increasing number of geriatric populace, coupled with the increasing acceptance and adoption of infant and child nutrition as a result of changing lifestyle in the developing countries is contributing to foster the market growth of Nutrigenomics Market.
Leading players in the global nutrigenomics market include
Genomix Nutrition Inc.,
Cura Integrative Medicine,
XCODE Life Sciences Pvt. Ltd.,
May 2019 Precision Wellness will now be using multiomics to provide personalized health insights along with a customized nutrition plan to promote healthy aging and prevent diseases. The company is in the process of bringing together nutrigenomics, genomics, metabolomics as well as microbiomics to offer a wholesome multiomic health assessment.
In February 2019, a study conducted by researchers at King’s College London found that the anthocyanins responsible for giving blueberries their blue color may also be responsible for the heart-healthy benefits of the fruit. The study was conducted with nutrigenomic techniques and is among the many happenings in the global nutrigenomics market at present.
The global nutrigenomics market is segmented on the basis of product, technique, application, and region.
By product, the global nutrigenomics market is segmented into reagents & kits and services.
By technique, the global nutrigenomics market is segmented into saliva, blood, buccal swab, and others.
By application, the global nutrigenomics market is segmented into obesity, diabetes, chronic diseases, and anti-aging products. Obesity is the clear leader in the global nutrigenomics market by application, as the segment holds a dominant share of around 70% in the market and is likely to grow at a steady rate over the forecast period due to the growing prevalence of obesity. The diabetes segment is also likely to be a prosperous avenue for the nutrigenomics market over the forecast period, with the segment expected to exhibit a CAGR of 17.1%.
A regional analysis of the worldwide nutrigenomics market has been done for the Americas, Asia Pacific (APAC), Europe, and Middle East & Africa.
Considering the global space, the Americas controls the largest market for nutrigenomics. The presence of highly developed countries like the United States (U.S.) and Canada encourages market growth to a large extent. The market’s imminent expansion in the following years will be the result of the rise in direct to consumer nutrigenomics kits. Also, the increased intake of specialized food in the region does wonders for the market. Latest data reveals that at least in nine nations in the region, close to 9000 individuals are willing to adopt nutrigenomics as long as there is legal guarantee and the genetic data is not misused.
The nutrigenomics market in Europe is the second-largest, due to the mounting adoption rate of advanced technology and the presence of a well-established healthcare & medical research industry. Surge in a number of lifestyle diseases is another important growth-inducing factor. It is predicted that Europe could obtain a CAGR of 17% in the given time frame.
Asia Pacific market’s fast pace from 2017 to 2023 will be backed by the increasing awareness among people about health and treatments. Other than this, rising spending on healthcare and the robust demand for holistic treatments gives way to market growth. The nutrigenomics market in the region is expected to grow at the rate of 17.1% during the review period. Moreover, the region also notes growing demand for functional foods & beverages, which has pushed the demand for nutrigenomic techniques. Japan is reckoned to be the highest consumer of functional foods in the region, which could stimulate the overall market growth in the subsequent years.
Given the prevalence of malnutrition and poverty in Africa, Middle East and Africa could witness dismal run during the review period. Yet, the Middle East market could note better growth in the near future owing to the presence of developed economies like the United Arab Emirates (U.A.E) and Qatar. The rise in lifestyle diseases and subsequently obesity could also benefit the market in Middle East during the conjectured timeframe.
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Some Brief Table of Contents of Report
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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