PUBLISHER: Grand View Research | PRODUCT CODE: 1529606
PUBLISHER: Grand View Research | PRODUCT CODE: 1529606
The U.S. personalized nutrition & supplements market size is anticipated to reach USD 12.92 billion by 2030 and is projected to expand at a CAGR of 16.28% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing consumer health awareness and growing demand for retail nutrition products are expected to drive the market growth.
The impact of the COVID-19 has led to a decline in the growth rate of the U.S. personalized nutrition & supplements market. Owing to the lockdown norms across the globe, users were prevented from accessing clinics and stores, while professionals were compelled to halt testing on which the recommendations are based. Various organizations have recognized the importance of personalized nutrition in relation to COVID-19. For instance, in March 2020, the American Nutrition Association announced the launch of a resource hub for personalized nutrition and COVID-19. The portal contains a rapid review by the professional to educate healthcare professionals. This factor has impelled the growth of the market and is anticipated to propel exponentially over the forecast period.
In addition, the increasing incidence of lifestyle diseases, growing concerns about inadequate nutrition, and a large geriatric population are some of the key factors responsible for the rise in demand for retained nutrition products. With the increase in the incidence of various illnesses, U.S. citizens are adopting a healthy lifestyle to obtain optimum nutrition for preventing them. According to Diana Food, the COVID-19 pandemic shifted consumers' preference toward personalized nutrition. Thereby propelling the growth of the U.S. personalized nutrition & supplements market over the forecast period.
Moreover, supplements are highly regulated and monitored by officials. The purpose of the regulation is to increase consumer protection and ensure the fulfillment of labeling requirements by companies. The U.S. FDA regulated dietary ingredients and finished supplement products under conventional foods & drug products. Under the regulations, manufacturers and distributors of supplements are prohibited from marketing products that are misbranded or adulterated. Thereby, challenging the growth of the market over the forecast period.