Market Size of Nutrigenomics Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 15.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Nutrigenomics Market Analysis
The nutrigenomics market is expected to witness a CAGR of 15.5% during the forecast period.
The COVID-19 pandemic had a significant impact on the market. Following the pandemic, there was a greater awareness of nutrition habits, healthy foods, food allergies, and a preference for personalized health, creating opportunities for the nutrigenomic market. According to an article published in Frontiers in Nutrition Journal in July 2021, nutrition and metabolic diseases, such as obesity and diabetes, had a significant impact on public health, while lifestyle changes, metabolic issues, and immunological health all had a significant impact on the severity and prognosis of COVID-19. Thus, people considered the effects of lifestyle choices and the intake of clearly defined healthy diets throughout the pandemic. This increased the demand for nutrigenomics research during the pandemic. Therefore, owing to the factors mentioned above, the pandemic considerably impacted the market studied. Moreover, the market studied is expected to grow significantly over the next five years.
Factors such as the increasing awareness among the target population, the rising prevalence of obesity, and the growing trend of personalized diets among athletes are expected to fuel the growth of the market studied during the forecast period.
Nutrigenomics plays an important role in cancer research to understand the etiologic aspects of cancer, as various types of cancer are linked to dietary intake and can significantly influence cancer risk. Globally, there is an increasing cancer incidence, which is expected to fuel market growth. For instance, according to GCO data updated in March 2021, the number of new cancer cases is estimated to grow to 29.4 million by 2040. As proper diet and nutrition on an individual level may reduce the susceptibility to cancer, research on nutrition for cancer is increasing. Furthermore, nutrigenomics contributes to a better understanding of the genetic role in health and disease, as well as an improved therapeutic intervention to aid in disease diagnosis. Thus, the increasing importance of nutrition among the target population, as well as several benefits such as a focus on disease prevention and slowing the signs of aging, are expected to drive the nutrigenomics market. As a result, they contribute to overall market growth.
Furthermore, market players are adopting various strategies, such as product launches, collaborations, acquisitions, mergers, and expansions, to increase their market share. For instance, in August 2022, PureGenomics, a personalized genetic tool, was launched in the United Kingdom and Ireland. PureGenomics is a unique complementary nutrigenomics service that takes a personalized approach to nutrition and aims to give healthcare professionals straightforward, trustworthy, and useful genomic data. Such developments in the market are anticipated to drive market growth over the forecast period.
Therefore, owing to the aforesaid factors, the market studied is expected to grow over the forecast period. However, the lack of regulatory approvals in the field of nutrigenomics may hamper market growth.
