The nutrition technology platforms market is set to grow from $12.26 billion in 2023 to $14.5 billion in 2024 at a CAGR of 18.3%. Growth drivers include health-conscious consumer trends, digitalization, rising smartphone use, higher consumer incomes, and social media influence.
The nutrition technology platforms market is projected to grow rapidly, reaching $28.54 billion by 2028 with a CAGR of 18.4%. This growth is due to the rising adoption of telehealth services, advancements in nutrigenomics, blockchain for food traceability, demand for AI-driven meal planning, and the increasing prevalence of chronic diseases. Major trends include technological advancements, personalized nutrition, wearable integration, machine learning, and augmented reality.
Major Driver In The Nutrition Technology Platforms Market
The increasing incidence of lifestyle-related diseases is expected to propel the nutrition technology platform market. Factors like sedentary lifestyles and poor diets contribute to these health issues, prompting the need for personalized dietary guidance. The American College of Cardiology reported that cardiovascular risk factors in the U.S. could rise significantly by 2060, with diabetes projected to increase to 55 million people. Therefore, the rise in lifestyle-related diseases is driving the nutrition technology platform market.
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Nutrition Technology Platforms Market Competitive Landscape
Nestlé Health Science, Viome, Zipongo, Lumen, Precision Nutrition, Lifesum, PlateJoy, InsideTracker, Heali AI, MyFitnessPal, FatSecret, Wellory, Cronometer, EatLove, Nutritics, BetterMeal AI, Foodvisor, Nutrino, SmartPlate, Nutrisoft, Nutritionix, Nutrium
Key Nutrition Technology Platforms Market Trend
Companies in the nutrition technology platform market are introducing innovative web platforms to support health and wellness with data-driven insights and user-friendly interfaces. In June 2024, Nestle Health Science launched GLP-1 Nutrition, a web platform offering nutritional support for individuals managing their weight with GLP-1 medications. This platform provides personalized care with products from brands like Garden of Life, Nature’s Bounty, and Boost, offering expert advice, nutrition coaching, and community support on weight management, muscle preservation, gut health, hydration, and skin and hair health.
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Global Nutrition Technology Platforms Market Segmentation
The nutrition technology platforms market covered in this report is segmented –
1) By Product Type: Active Measurement, Standard Measurement
2) By Application: Standard Supplements, Disease-Based
3) By End-User: Direct-To-consumer, Wellness And fitness centers, Hospitals And Clinics, Institutions
By Geography:The regions covered in the nutrition technology platforms market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the nutrition technology platforms market in 2023.
The Nutrition Technology Platforms Global Market Report 2024 furnishes information about the global nutrition technology platforms market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
