The market for personalised vitamins and dietary supplements is evolving rapidly, as improvements in technology and investments from larger companies are driving innovation and lowering prices. This is segmenting the market for personalised nutrition, with some products increasingly mass-orientated while others retain premium price points and niche services like DNA testing and microbiome mapping. The industry is set for both global expansion and industry consolidation over the near term.
Personalised vitamins and dietary supplements have been in the market for almost a decade as a narrow opportunity attracting only premium nutritional consumers. Improvements in technology and investments from larger companies are driving innovation and lower prices, pointing towards more mass orientation in the future.
Underscoring this movement towards mass orientation is the fact that the concept of personalisation needs refining to reflect the wide spectrum from simple pill packs to bespoke formulations driven by genomics or microbiome mapping. New terms are in order to segment these offerings.
The middle grouping of products based on price points lead the overall personalised marketplace by offering competitive prices, quick analytics, and basic personalisation that have the potential to attract a wider grouping of consumers than have patronised personalised nutrition services to this point.
At the higher end, “precision” vitamins and dietary supplements will continue to offer innovative and sophisticated solutions like products built to a consumer’s individual biology that will push the outer edge of the industry but continue to only attract a narrow range of consumers.
The personalised nutrition marketplace is dominated by the US in 2021, but many factors suggest the near-term rise of this concept in a half-dozen or more markets that have a strong base of active and engaged vitamin and dietary supplement consumers.
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