Personalized Wellness Market

Part
01
of four
Part
01

Personalized Diet and Nutrition Plan Key Players

Personalized diet and nutrition plans mainly come to play in that different individuals require different needs in terms of nutrition, genetic make-up, and lifestyle choices. It has become a current trend for individuals to consult other diet experts on the same. The focus of this research is to identify these experts and key players and clearly show their expertise and products that they present.

1. Habit Food Personalized.

  • Habit food provides personalized diet plans based on blood test lab results. These tests are mainly through an at-home test kit that can be purchased online. From these results, they come up with a viable quantity of various food intake values and an ideal plate or personalized recipes.
  • Also, Habit Food recently launched a nutrition plan mobile app to remotely guide a vast majority of clients on eating habits to suit their dietary needs. The app guides both home cooking and outdoor dining.
  • Habit Food is one of the key players, as seen from the Global Personalized Retail Nutrition market report. Habit Food Personalized's overall market size expected to reach USD 50 Billion by the year 2025.

2. Nima Labs Inc.

  • Nima Labs has manufactured a testing kit for gluten and peanut to enable consumers to avoid those foods, in case they are required to do so. This requirement may be due to allergic reactions, gluten-free health requirements, and personal reasons.
  • Nima Labs uses antibody chemistry and sensor algorithm, among other things to create the tester for these parameters.
  • Nima is one of the key players in this sector as it has since closed a $9.2 million in funding led by Foundry Group for its operation resulting in a total of $14 million in their fund basket.
  • Nima Labs also features as one of the market drivers in the Retail Nutrition market report that indicates that the market size is foreseen to reach 50 Billion USD by 2025.

3. Atlas Biomed Group Ltd

4. Royal DSM

  • This Dutch multinational mainly specializes in the formulation of dietary supplements, nutrition bars and beverages based on data on daily habits, various biomarkers, and genes pool. They seek to support healthier living and healthy aging, through proper nutrition and dieting.
  • Royal DSM is one of the key players in this sector as seen from its growth in the just-ended financial year.
  • From its annual report, for the financial year ending 2018, DSM has managed a 6% organic topline growth in addition to EBITDA. This growth shows how well it has expanded as one of the key players in the nutritional plan sector.
  • DSM has also found recognition from Fortune Change the World List and got high rankings on ESG Benchmarks.

5. Mixfit

  • Mixfit employs an intelligent nutrition assistant to guide an individual on the best meal practices and nutrition to follow to achieve a healthier body. The artificial intelligence algorithm; Mina, calculates an individual nutrient need based on their diet and activity level.
  • Also, Mixfit has developed an app that offers guidance on nutritional needs on a real-time basis.
  • Mixfit is one of the key players as witnessed in its collaboration with the Royal DSM to create a nutritional assistant application that uses Artificial Intelligence.

Research Strategy

To carry out this research, I did an extensive analysis of data and information from various nutrition-based reports, articles published by trusted media outlets and key stakeholders in the healthcare and personal wellness arena. It was evident that there are many players in the field of personalized diet and nutrition plan globally though the focus was mainly on the major key players.
I was able to triangulate information on some global companies that had taken influence from their country of establishment and surpassed to expand to other parts of the globe. I first looked at the start-ups and trends in the personalized diet sector then went ahead to investigate the expansion and growth of those particular players in the sector by checking market reports and financials. I also checked their following and funding thereafter.
Part
02
of four
Part
02

Personalized Supplements Key Players

Four of the key players in the global personalized supplements market are Care/of, Vitafive, Ritual and Persona Nutrition. Below is an overview of each of the key brands.

1. Care/of

  • According to Custom Vitamins, Care/of is probably the largest player in the personalized vitamin subscription world. Care/of offers a customized vitamin subscription box for those who want style, convenience & personalization. Each of their vitamins, minerals, herbs, and specialty ingredients used is said to boost beauty regimen.
  • By completing their online quiz, Care/of makes recommendations for a customized daily pack based on the subscriber lifestyle. In addition to this, information can also be manually inputted.
  • Care/of thoroughly explain the background information on each supplement, including citations for medical studies, and information about where their raw ingredients have been sourced.
  • The vitamins are priced individually; they range from $5/month for vitamin B12 to $25/month for the prenatal. Most selections are around $8/month. Shipping is free on orders over $20.
  • In addition to offering multivitamins and individual supplements and minerals, they also offer "personalized recommendations for protein powder, herbal & Ayurvedic supplements, probiotics, botanical supplements and some specialty products."

2. Vitafive

  • Vitafive offers 4 week subscription of vitamin gummies that are all "gluten free, vegan, and allergy friendly".
  • To get started, the customer chooses the vitamins that they need thereafter, Vitafive sends a 28 daily packs.
  • Vitafive offers a multivitamin, a probiotic, vitamin D3, vitamin C, calcium, biotin, melatonin, and omega 3. Five of their eight current options are vegan.
  • Vitafive is the only daily vitamin pack that focuses on gummy vitamins.
  • Vitafive products can be ordered on Amazon.

3. Ritual

  • Ritual offers a 30-day supply of a unique multivitamin for women that contains nine essential nutrients that most women don’t get enough of out of their diet alone.
  • Rituals packaging and vitamins are fully transparent which puts the mineral contents on full display.
  • Katrina Schneider is the founder of Ritual.
  • Their main offering, Essential for Women cost $30 a month while Essential Prenatal is $35. Subscriptions arrive every 30 days, and shipping is free.

4. Persona Nutrition

  • Persona Nutrition which was previously known as Vitamin Packs is a subscription supplement service that makes it convenient to receive daily dietary supplements via mail.
  • Persona offers a personalized vitamin program developed by a team of experts along with unique vitamin packs based on what the body needs.
  • An online questionnaire is first completed in order to reveal the vitamin and nutrient combinations that are unique to the subscribers body, lifestyle and health habits of the subscriber.
  • Every month subscribers receive a 28-day supply of vitamins and nutrients individually packaged. Alongside the vitamins, a detailed supplement facts about each vitamin and nutrient is included in the subscription.
  • The price for individual supplements starts from about $3 a month for prenatal vitamin packs and vitamin D, to about $40 a month for a specialty vegan multivitamin. Shipping is free on orders over $20.

Research Strategy

In order to find the top four key players in the personalized supplements market, we first reviewed six articles that provided the top/best personalized vitamin supplements brand. From each list, we selected the brands that occurred most frequently from each list for create our list of key players. The six sites that we reviewed are Urban Tastebud, CNET, Hello Subscription, Bon Appetit, My Subscription Addiction and Custom Vitamins. Both Care/of and VitaFive appeared five times, while Ritual and Persona appeared four times. Honest Company Health & Wellness and HUM nutrition were both mentioned twice; however, they were not included in our list of key players.
Part
03
of four
Part
03

Personalized Beauty Key Players

Some key players in the global personalized beauty market include Lancôme USA, Function of Beauty, eSalon, ILoveSkinInc, and Match Co.

Lancôme USA

  • The website of Lancôme USA is accessible via this link.
  • Lancôme USA provides customized beauty products for individuals after scan their skin to measure exact shades. Individuals are then allowed to choose their skin type the coverage level they desire, after which the company calculates their unique formula.
  • The bottle of skincare products offered by Lancôme USA contains the name and complexion ID of individuals for easy refills.
  • The color, coverage, as well of hydration levels covered by Lancôme have 72,000 possibilities/combinations. An individual's skin profile is matched to one of these combinations.
  • To determine the unique skin tone, a device known as the Lancome Color Expert scans the face in three different places. The data is translated from the scanner into a custom formula to match their skin tone perfectly.
  • The annual revenue of Lancôme USA is $5.2 billion.

Function of Beauty

  • The website of Function of Beauty is accessible via this link.
  • "Function of Beauty" provides hair care products that are personalized and as unique as its clients. The company personalizes Shampoo and conditioner products before sales to match the hair type, hair goals, color, and fragrance choice of consumers.
  • Individuals ordering Function of Beauty items such as hair masks are asked to build/customize their "hair profile."
  • All products listed on the web page of Function of Beauty have the customize link.
  • The annual revenue of the firm, Function of Beauty, is $2 million.

eSalon

  • The website of xxx is accessible via this link.
  • The company known as eSalon allows consumers to create their profiles. This process documents the "hair history and ultimate color goal" of individuals. A picture of the contemporary look/appearance gets included for consumers who desire to go the extra mile.
  • Expert/personal colorist then crafts beauty blend to suit an individual's profile after factoring all insights from collected data. After that, the product gets shipped to individual customers.
  • The company does not just say goodbye after shipping customized products. They stick by their customers throughout their color journey to offer guidance.
  • The annual revenue of eSalon is $35.5 million.

ILoveSkinInc

  • ILoveSkinInc allows its consumers to take a simple "3-minute skin identity quiz" used to identify their skin type and three serums that best suited them. Customized serums are added to the cart and shipped to users.
  • Love Skin Inc allows consumers to act as their skin chemist and create customized "My Daily Dose® serum" cocktail for their personal use.
  • The annual revenue of ILoveSkinInc is $10 million.

Match Co.

  • The screen capture of Match Co. is accessible via this link.
  • Match Co provides customized beauty products "made to match" individuals.
  • The company provides an app that allows users to scan and upload their skin tones using an app. The captured information is used to produce custom beauty products that are unique to the skin of individuals.
  • Match Co is committed to providing customized beauty products. The company believes that the makeup of individuals should be made to match them and not any other way around. Individuals should never compromise or mask their beauty.
  • The company ensures that finding the correct foundation shade of an individual should neither be a chore nor a hassle. People should not mix two or more products to match their skin tone. The company believes "there is one color of foundation" for every individual.
  • As of 2017, Match Co's app had achieved over 100,000 downloads.
  • The annual revenue of Match Co. is less than $1 million.

Research Strategy

The research investigated significant/key players in the personalized beauty sector of the personalized wellness market. This strategy reviewed the list of top players in the "customizable cosmetic marketplace" published by Tweak Your Biz web and other resources. It also reviewed publications of the best/most customized beauty brands by Allure. This strategy also examined the websites of the various beauty brands operating in the personalized wellness market. Several organizations appeared across more than one list and provided solutions that were customized from production to supply. Companies that appeared on the above listings but had no personalized products on their websites, such as Prescriptives, were not included. Newer companies such as Atolla launched in 2019 and have not reported their revenues or other metrics that indicate usage or consumer adoption rate after launch. Revenue or their number of users (app downloads, and so on) per company was used to determine the top players in the industry.
Part
04
of four
Part
04

Personalized DNA Testing Key Players

The key players in the global personalized DNA testing market are 23andMe, Futura and Helix. These companies provide services that allow their clients to request for DNA tests personally.

Personalized DNA Testing Market

23andMe

  • 23andMe company is a genetic based company that allows its clients to know about their genomes.
  • The company provides two services namely health and ancestry, ancestry and traits.
  • The health and ancestry service helps customers to know about the link between their individual genetics and particular health conditions. It also helps them to learn how individual DNA influences traits. The service is offered for $199.
  • The health and ancestry service also has a VIP option which of offered for $499.
  • The ancestry and traits service is targeted at helping people to discover their ancestry composition and how DNA determines their traits. This service is offered for $99.
  • 23andMe is considered to be a key player in the market based on its revenue. It is one of the top revenue generating companies in the personalized DNA testing market and has an estimated annual revenue of $121.45 million.

Futura Genetics

  • Futura genetics is a company that helps people to identify their genetic risks through DNA tests.
  • The company offers the Futura 28 genetics DNA test which screens for genetic predisposition to 28 of the most common diseases linked to aberrant genes globally. These conditions include Alzheimer's disease, breast cancer, Graves' disease, melanoma, migraine and multiple sclerosis.
  • The DNA test costs $375.
  • The company is considered to be a key player based on its high revenue amount. It has an estimated annual revenue of $6.1 million.

Helix

  • Helix is a personal genomics company that focuses on helping the population to improve their lives through DNA test.
  • The company offers the MyTraits Ancestry service which helps their customers to know their ancestry groups as well as shared traits with other people globally.
  • This service is free. However, the client is expected to have done a prior DNA sequence by the company before being eligible for the service.
  • The company is considered to be a key player because of its high annual revenue. Its estimated annual revenue is $5.5 million.

RESEARCH STRATEGY

We started the research by look at business news and article in order to get information on the key personalized DNA testing companies. We searched Forbes, Financial Times, and CNN, but it was information on genetic companies that were available. We then expanded our search by looking at industry reports and databases on genetic companies. We searched Market research, Mintel and Technavio. It was information on the general genetic testing, key players and DNA kits that was available.

Our third strategy was to search government websites such as Industry Europe, Commerce.gov and Bureau of labor, since these companies usually submit reports to the government of the countries that they are located. It was only information about the genetic industry at large that was available as well. We then had to get creative by compiling the list of all the companies seen in the genetic testing market. The website of each company was checked to know how the DNA testing is offered. We then selected companies that offer DNA testing based on the customer's request and not based on request from the physician. We also defined the key players by choosing those with the highest revenue, since the higher the revenue, the higher the market share of the company.
Sources
Sources

From Part 03
Quotes
  • "Online Customizable Cosmetic Marketplace- The online customizable cosmetic industry is one of the business types that is gaining popularity. So, now give the audience something unique to look forward to personalized beauty products with an online customizable cosmetic marketplace. It is a profitable business model that is based on providing an individualized experience to the audience. Top Players of Industry http://Iloveskininc.com Founders- Sabrina Tan Founded in 2008 Revenue- $10 M"
  • "http://Functionofbeauty.com Founders- Zahir Dossa, Joshua Maciejewski and Hien Nguyen Founded in 2015 Revenue- $2 M http://Esalon.com Founders –Cory Rosenberg, Francisco Giminez, Omar Mourad and Tamim Mourad Founded in 2008 Revenue- $27.8 M Read also: 10 Ideas to Start an Online Entertainment E-commerce Business Online Dating Marketplace- Trending platform to help single people find a genuine partner, launching an online dating website has extreme potential as a money-making business in today’s world. However, there is stiff competition in the online love industry. Therefore, you need out of the box strategies and unique feature-rich website to make it successful."