Key Takeaways

• The UK's corporate wellness market size stood at an estimated $8,500,000,000 or £6,208,870,000 in 2017.
• The Global corporate wellness market size was approximately $56,997,000,000 or £41,633,800,000 in 2020.
• The UK's corporate wellness market size was valued at an estimated £7,498,260,000 in 2020.

Introduction

UK Corporate Wellness Market Size

• In 2017, the UK's corporate wellness market was valued at $8.5 billion.
• Mordor Intelligence reported that the global corporate wellness market grew at a CAGR of 6.51 % between 2018 and 2026.

Global Corporate Wellness Market Size

• The global corporate wellness market was, in 2020, valued at $56,997,000,000, an equivalent of £6,208,870,000.

Research Strategy

• UK corporate wellness market size in 2017= $8.5 billion 
• CAGR = 6.51 % 

• UK corporate wellness market size in 2018= (6.51 × 8.5)/100 + 8.5= $9.05 billion
• UK corporate wellness market size in 2019= (6.51 × 9.05)/100 + 9.05= $9.64 billion
• UK corporate wellness market size in 2020= (6.51 × 9.64)/100 + 9.64= $10.27 billion

Key Takeaways

• From 2017 to 2020, the corporate wellness market in the United Kingdom expanded at an estimated compound annual growth rate of 6.51%.
• From 2021 to 2028, the global corporate wellness market is projected to grow at a compound annual growth rate of 7.0%.
• The Fit for Work service launched by businesses in the United Kingdom has helped to increase productivity, contributing to the market's growth in the country.

Introduction

Growth Rate of the U.K. Corporate Wellness Market

• According to a report on occupational health services that was published by Beroe Inc., the corporate wellness market in the United Kingdom generated a total of $8.5 billion in the year 2017. Meanwhile, the previous research report for this project ("Corporate Wellness: Market Size") estimated that the corporate wellness market in the country reached a market value of around $10.27 billion by 2020.
• Utilizing a free online CAGR calculator, along with the figures outlined above, it is estimated that the compound annual growth rate (CAGR) of the corporate wellness market from 2017 to 2020 is approximately 6.51%.

Factors Impacting Growth

• One of the factors that are impacting the growth of the corporate wellness market in the United Kingdom include the growing attention towards the health of employees for improving productivity. Also, the reduction of insurance and the cost of healthcare are contributing factors to the market's growth.
• In the United Kingdom, the Fit for Work service has been implemented, as reported by Grand View Research. This particular service provides an annual tax benefit of about $663.3, and it has helped to create an increase in productivity, while decreasing attrition and the amount of leaves.
• In the last year leading up to February 2020, businesses in the United Kingdom doubled their investments into the wellness sector. A report from CR Worldwide indicated that investments in employee wellness, along with reward programs, was rapidly increasing as U.K. companies were expanding "their average spend on employee programs in recent years." In all, there was a more than 20% YoY rise in the average U.K. spend on travel, wellness, and health programs due to greater workplace stress and an increase in corporate wellness programs.

Growth Rate of the Global Corporate Wellness Market

• The global corporate wellness market is projected to grow at a CAGR of around 6.51% from 2021 to 2026, as reported by Mordor Intelligence. Meanwhile, a research report published by Report Linker projects that the global corporate wellness market will expand at an estimated CAGR of 7.88% from 2021 to 2025. Grand View Research has recently projected that the global market will increase at a CAGR of at least 7.0% between 2021 and 2028.

Research Strategy:

• Starting Value: $8.5 billion 
• Ending Value: $10.27 billion 
• No. of Periods: 3 years (2017-2020)

Digital Wellness Market Size

• According to Deloitte, the digital health market in the UK was worth £2 billion in 2014 and £2.9 billion in 2018.
• Digital health systems was the largest segment with a 2018 market size of £1.64 billion, followed by health analytics (£366 million), telecare (£292 million), apps (£250 million), wearables (£241 million), and telehealth (£148 million).
• In 2018, over 318,000 health apps were available for smartphones in the UK. 59% of women searched online for health-related information while only 50% of men did so.
• The global digital health market was valued at £23 billion in 2014 and £43 billion in 2018.
• The UK market represented around 9% share of the global market in 2014 and around 7% in 2018.
• In 2016, around $5.4 billion was injected by early-stage investors into digital health startups globally.
• According to Statista, the global digital health market size was $79 billion (£57.73 billion) in 2015 and $200 billion (£146.15 billion) in 2020.
• The discrepancy in the figures was attributed to divergence in the definitions of the digital health market employed by the evaluators.

Research Strategy

Digital Wellness Market Growth Rate

• According to Deloitte, the growth rate for the digital health market in the UK in terms of CAGR was 11% between 2014 and 2018.
• Between 2014 and 2018, the different segments of the digital health market in the UK and their CAGR were digital health systems (6%), health analytics (24%), telecare (4%), apps (35%), wearables (25%), and telehealth (13%).
• The growth in the UK market was mainly driven by fast-growing markets like mHealth apps and health analytics.
• Other factors driving the adoption of digital health in the UK include the rising demand for specialty health consulting, particularly in remote regions. The deployment of Electronic Health Records (EHRs)/Electronic Medical Records (EMRs) has grown significantly as a result of the assistance offered to healthcare systems.
• The CAGR of the global digital health market was 18% between 2014 and 2018, 11.9% between 2019 and 2020, 14.2% between 2020 and 2021, and is projected to be 15.1% between 2021 and 2028.
• The growth of start-up companies supported by early-stage investments from accelerators, incubators, and venture capital firms was one of the factors driving the growth of the global digital health market.
• Other major factors driving the adoption of digital health globally include rising cases of obesity and chronic diseases, like diabetes and Cardiovascular Disorders (CVDs), rising demand for remote patient monitoring, growing patient engagement and connectivity as a result of increased deployment of digital health solutions.
• The COVID-19 pandemic has led to a significant increase in the demand for digital health among consumers and health providers.
• In addition, "rising investments, mergers & acquisitions, joint ventures, product launches, partnerships, collaborations, and government initiatives" are contributing to the market growth.

Research Strategy

Key Takeaways

• The market size of the wellness testing and diagnostics clinics in Europe (i.e point of care diagnostics testing) was valued at £5.1 billion in 2021.
• The estimated market size of the UK point-of-care diagnostics market in 2021 is £44.9 million.
• The share of the point-of-care diagnostics testing market in Europe compared to the overall in vitro diagnostics market in the region is approximately 46%.

In-Vitro Diagnostics

• In-Vitro Diagnostics are "tests performed in laboratories or by consumers at homes, to diagnose, monitor, screen, and assess various diseases, conditions, or infections." IVD products include reagents, instruments, and systems that are intended for use in the diagnosis of diseases or other conditions.
• The IVD market in Europe has been estimated at USD 15.21 billion in 2021. The global market is valued at USD 73.9 billion in 2021. Converted to GBP, the values are £11.1 billion and £54 billion respectively.
• According to another report, the UK IVD market has the fastest growth in Europe. Statista shows that UK had an 8.8% share of the European IVD market in 2018.

Point of Care Diagnostics Testing

 

Source

 

• According to an industry research excerpt from Market Data Forecast, the European point-of-care diagnostic testing market was valued at USD 6.98 billion in 2021 ( £5.1 billion). Globally, the POC diagnostics testing market is worth USD 23 billion  in 2021 ( £16.8 billion).  

• It states that POC diagnostics is a collective term used for diagnostics procedures and tests performed on site, and that compared to laboratory tests, it has the advantage of speed and convenience. As per the above graph, POC diagnostics is a portion of the overall in-vitro diagnostics market. Based on our findings, the POD diagnostics share of the European market is 46% ($6.98 billion/15.21 billion*100).
• This report has categorized POC diagnostics testing by product type. This includes infectious diseases, cardiac markers, oncology markers, OTC diagnostics tests, drugs of abuse, blood gas testing, fertility testing, urinalysis, coagulation, hematology, glucose monitoring, ambulatory chemistry and decentralized clinical chemistry
• The market size of POC diagnostics in UK was not available. Hence, we will estimate the value using the UK market share of 8.8% within the European IVD market. The market size can be calculated as USD 61.4 million (8.8%*USD6.98 billion). Converted to GBP this is around £44.9 million.

In-Vitro Diagnostics

• The in-vitro diagnostic (IVD) market in Europe is expected to grow at a CAGR of 5.1% between 2021 and 2026.
• Factors driving the growth of the market in Europe include increasing awareness regarding the advantages of in-vitro diagnostics, growing prevalence of infectious diseases and genetic disorders, health concerns, the rising number of early diagnoses, escalating healthcare expenditure, and rising number of diagnostics centers that are equipped with the latest devices.
• As a result of the COVID-19 pandemic, individuals are settling for "simple diagnostic tests that can be done in-home care settings", which has led to the growing popularity of simple and efficient, over-the-counter diagnostic devices like glucose monitoring kits.
• The IVD market in the UK is the fastest-growing market in Europe. Factors impacting this growth include increasing activities in the research and development space, the high prevalence of chronic diseases, and the rising need for minimum deadly surgeries.
• Challenges confronting the European IVD market include the high cost of installation and maintenance of the laboratory equipment, shortage of skilled device operators in diagnostics centers, inadequate knowledge in analyzing diagnostic outcomes, strict government regulations in the approval of new products, and economic policy and strategy changes.

Point of Care Diagnostics Testing

• The European point-of-care (POC) diagnostic testing market is expected to grow at a CAGR of 9.72% between 2021 and 2026.
• Factors driving the growth of the market in Europe include the introduction of healthcare information management systems such as electronic health records (EHR), technological advancements, and the availability of high-quality and cost-effective medical solutions for miniaturization and laboratory automation.
• Challenges confronting the European POC diagnostic testing market include coordination efforts required among healthcare providers, centers, manufacturers, and researchers, reluctance to modify existing industry norms, numerous product recalls, strict regulations, and unfavorable reimbursements.

Research Strategy

Introduction

UK Wellness Data

• There are around 142 entities in the UK that provide health and fitness learning courses.
• The health club industry in the UK was worth £12.4 billion in 2020.
• For 2022, U.K. consumers are expected to spend around £487 per year on wellness pursuits.
• Based on the IHRSA report, the U.K. health club market earned around US$6.2 billion in 2019 based on the latest available report. Health clubs also provide learning sessions to improve personal wellness.

Europe and Central Asia

• According to Holon IQ, the learning wellness landscape for Europe and Central Asia has around 60 players and generates around $30.4 million in revenue.
•  
  Source

Helpful Findings: Global Wellness

• Based on the latest available data from the Global Wellness Institute, the overall global wellness economy was worth around £2.8 trillion worldwide.
• Based also on the IHRSA report, the global health club market earned around US$96.7 billion in 2019 based on the latest available report.
• There are around 280 global players that provide education solutions for schools and businesses.

Research Strategy

Introduction

Helpful Findings

• According to HolonIQ, wellness in global education is expected to grow with a 25% CAGR through 2025.
• The different segments for wellness solutions in education include learning, measuring, connecting, and engaging.
• There are 60 organizations in the learning landscape for Europe and Central Asia with about $30.4 million in revenue.
•  
  Source
   

• Statista opines that the market size of the UK wellness industry was expected to reach 12.4 billion British pounds by 2020.
• Furthermore, the global wellness institute estimated the wellness market at $4.2 trillion (2.925 trillion British pounds) and has grown 12.8% in recent years.
• A breakdown of the corporate solution wellness market by service includes health education services and health risk assessment.

Research Strategy

Selected Findings

• A report published by Statista states that the natural and organic cosmetics market size stood at £221 million in the United Kingdom(UK) in 2020.
•  Fashion Discounts reports that the current natural and organic beauty market is valued at £221 million in the United Kingdom(UK).

• The Clean beauty services market in the United Kingdom(UK) is expected to reach £339 million by 2025.
• A report published by PRNewswire states that the global Clean beauty market was estimated to be $5439.6 Million(£3978.2 million) in 2020.
• A market report by Brand essence research states that the global market was expected to grow to $11558.5 Million(£8452.7 million) in 2027

Research Strategy

Triangulations

• $5439.6 million*0.731277=£3978.2 million

• $11558.5 million*0.731277=£8452.7 million

Key Takeaways

• The U.K. clean beauty services market is estimated to grow at a compound annual growth rate (CAGR) of around 8.93% from 2020 to 2025.
• The clean beauty services market reached a market size of £221 million in 2020, and it is expected to hit £339 million by the conclusion of 2025.
• According to Brand Essence Research, the global clean beauty services market is projected to grow at a CAGR of about 12.07%.

Introduction

Growth Rate for the UK Clean Beauty Services Market

• According to a recently published report from Statista, the natural and organic cosmetics market in the United Kingdom was valued at approximately £221 million in the year 2020. The average revenue generated per capita for the industry was £3.25.
• As mentioned by Statista and Fashion Discounts, the natural and organic cosmetics segment is expected to reach a market value of £339 million by the year 2025.
• Using a free online CAGR calculator, the compound annual growth rate of the clean beauty services market in the United Kingdom from 2020 to 2025 is estimated to be approximately 8.93%.

Factors Impacting Growth

• One factor that is helping to drive the clean beauty services market in the United Kingdom is the launch of clean color cosmetics. The Fashion Network reported that in 2018, the United Kingdom accounted for around 21% of the world's clean color cosmetic launches, which was only second to the United States. As stated by Mintel's Jane Henderson, "Clean beauty is more than a trend, it's a lifestyle, and as such brands must adapt to the changing landscape to secure their place in the future market."
• Also, the proportion of brand-new vegan hair care products launched in the United Kingdom reached 20% in the year 2018. Consumers in the country also have a wider offering of hair products that are gluten-free, as 9% of the launches in the area claimed to be gluten-free.
• Another factor contributing to the market's growth is U.K. consumers' growing concern over the health and environmental effects of specific ingredients. U.K. consumers are increasingly seeking products that claim to be preservative-free, cruelty-free, and contain natural ingredients.

Growth Rate for the Global Clean Beauty Services Market

• As reported by Brand Essence Research, the global market for clean beauty is projected to expand at a CAGR of around 12.07% between 2020 and 2027. Europe is expected to capture the second largest market share among regions, behind North America.
• Furthermore, Europe, along with Asia Pacific, is anticipated to be the fastest expanding regional market for clean beauty services. This swift growth is going to be driven by a rapid rise in consumer spending on various beauty products, as well as the increasing amount of government initiatives that promote clean beauty products that are eco-friendly and toxin-free.
• Retailers serve as the largest distribution channel segment for the global clean beauty services market, with a 35.1% share of the global market.

Research Strategy:

• Starting Value: £221 million 
• Ending Value: £339 million 
• No. of periods: 5 years (2020-2025)

Introduction

Pet Wellness Market Size

The Global Market Size

• Pet wellness is also known as pet care. 
• Pet care/wellness products include food, hygiene/grooming, toys, accessories, and veterinary.
• In 2020, the global pet care market was worth USD 207.90 billion [GBP 152.047 billion].
• "This market is projected to grow from USD 222.93 billion [GBP 163.03 billion] in 2021 to USD 325.74 billion [GBP 238.23 billion] in 2028."

The UK Market Size

• The UK pet care market grew by 2.5% between 2011 and 2019.
• In 2019, "out of the 12.6 million pet-owning households in the UK (around 45% of all homes), 87% bought healthcare and pet accessories for their dogs, cats, or other small animals, beyond their basic food, veterinary, and insurance needs."
• In 2019, the retail sales of pets' food, treats, and litter hit GBP 2.9 billion in the UK. Also, the same year, the UK pet care market [which included food (£2.8 billion), accessories (£0.9 billion), grooming (£0.3 billion), and veterinary (£2.5 billion)] was estimated to be GBP 6.5 billion.
• However, in 2020, the UK pet care market revenue hit USD 4.8 billion [GBP 3.51 billion].

Research Strategy

UK Pet Wellness/Care Market Growth

• The UK pet care market grew by 2.5% between 2011 and 2019. From 2019 to 2024, the market is estimated to grow by 15%. 

Drivers

• The number of pets adopted drastically surged prior to and during the COVID-19 epidemic, owing to millennials' adoption of a humanization attitude toward pets. It is estimated that 12.6 million households in the UK have pets.
•  Increased consumer spending on pet care is another factor boosting the UK pet care market. In 2020, e-commerce sales in the pet care industry increased dramatically.
•  Changing demographics, growing aging population are other factors driving the UK market. A growing number of pet owners require assistance in meeting the needs of demanding pets and are willing to spend their retirement money on them.
• Most growth is fueled by high rates of inflation due to the COVID-19 pandemic.

Global Pet Wellness/Care Market Growth

• The global pet care market is expected to grow at a CAGR of 5.6% from 2021-2028.

Drivers

• People's increasing spending on various types of pet care-related products is projected to ease the consumption rate of such products, consequently propelling the pet care market forward.
• The changing lifestyles of the global population are projected to increase demand for pet care products, boosting the total market.
• The development of innovative technologically-enabled animal care products for the industry is one of the factors driving the market growth.

Key Takeaways

• The babies' and children's food and nutrition market comprises several food products for babies and children, such as infant formula, precooked baby foods, children's meal kits, children's ready meals, and lunch box treats.
• According to Statista, the size of the babies' and children's food and nutrition market in the UK was £1.41 billion in 2020.
• In recent years, the babies' and children's food and nutrition market in the UK has witnessed a growth due to an increase in the population of young working mothers. The "high cost of living in cities" and low wages have forced more women to start working in order to provide support to their families. Hence, working mothers have become more dependent on processed and readymade nutrition products for their babies and children.

Introduction

The Babies' and Children's Food and Nutrition Market Size

• The babies' and children's food and nutrition market comprises several food products for babies and children, such as infant formula, precooked baby foods, children's meal kits, children's ready meals, and lunch box treats.
• According to Statista, the size of the babies' and children's food and nutrition market in the UK was £1.41 billion in 2020.
• The corresponding size of the above market in Europe was £8.12 billion in 2020.
• According to the paywalled market research report titled "Global Baby Food Market" by Allied Market Research (also referenced by Statista in this report), the global market size of the above market was $67.3 billion (£50.74 billion) in 2019. This market "is projected to reach $96.3 billion by 2027."

Insights on the UK Babies' and Children's Food and Nutrition Market

• In recent years, the babies' and children's food and nutrition market in the UK has witnessed a growth due to an increase in the population of young working mothers. The "high cost of living in cities" and low wages have forced more women to start working in order to provide support to their families. Hence, working mothers have become more dependent on processed and readymade nutrition products for their babies and children.
• According to data published by "the Office for National Statistics (ONS) of the United Kingdom," the percentage of working mothers with dependent children rose from 66.2% in 2000 to 75.1% in 2019.
• As a consequence of this excess demand, the UK imported more than $113 million "worth of infant and young child food preparations from Ireland in 2020, making Ireland the top import partner." The next major import partners were "Germany and the Netherlands."

Insights on the Global Babies' and Children's Food and Nutrition Market

• According to Allied Market Research, the largest share of the market in 2019 by product type was captured by the milk formula segment (60.1%).
  Source
   
• Considering the large populations of India and China, it is no surprise that the Asia-Pacific region captured the largest share of the market by region in 2019 (40.0%).
• According to Mordor Intelligence, the fastest growing region by growth rate is North America.
  Source
   

Research Strategy

Babies and Children's Nutrition Growth Rate

• In 2020, Statista reported the market size of babies and children's nutrition to be £1.41 billion.
• This value is projected to increase to £1.7 billion by 2025.
• According to Valuates Reports, the global market size for infants and babies' nutrition was $67.3 billion in 2019 (£50.74 billion equivalent).
• This global market size is forecast by Value Reports to grow at a compound annual growth rate (CAGR) of 6%.
• Another research by 360 Research Reports stated that the global baby and pediatric nutrition market size was $60.97 billion (£45.97 billion equivalent) in 2020.
• The market size is expected to grow at a CAGR of 6.5%, according to 360 Research Reports.

Research Strategy

Calculations done

Conversion of USD to GBP

CAGR Calculation

 ComPsych 

• Founded in 1984, ComPsych specializes in employee assistance programs (EAP). The company is a pioneer of "fully integrated EAP, behavioral health, wellness, work-life, HR, FMLA, and absence management services." It is headquartered in Chicago, IL.
• ComPsych was selected as a top player because it was identified as such in several global industry reports (e.g. MarketsAndMarkets, GlobeNewswire, Grand View Research). Also, the company serves over 56 thousand organizations and 127 million individuals across the world.

 Aduro 

• Headquartered in Redmond, WA, the company offers human performance solutions to increase employee wellness in businesses. It was founded in 2001.
• Aduro was selected as a top player because it was identified as such in several global industry reports (e.g. Grand View Research, GlobeNewswire, BusinessWire). The company serves nearly 1 million users at "leading companies and healthcare organizations."

 Virgin Pulse 

• Virgin pulse offers wellbeing solutions to businesses across the world. It is headquartered in Providence, RI, and was founded in 2004.
• Virgin Pulse was selected as a top player because it was identified as such in several global industry reports (e.g. GlobeNewsWire, Mordor Intelligence, MarketsAndMarkets). Virgin Pulse serves 14 million users across the world.

Research Strategy:

Key Takeaways

• WHOOP is a next-gen wearable providing users with health monitoring with a valuation of $1.2 billion.
• Calm's most recent funding round brought its valuation to USD $2 billion.
• Keep is identified as "the leading fitness app in China" and with a valuation of USD $2 billion.

Introduction

Findings:

WHOOP

• WHOOP is a next-gen wearable providing users with health monitoring ranging from fitness, sleep, recovery, strain and in-app coaching features.
• Although its fitness tracker was initially tailored to cater to elite athletes to monitor statistics such as "workout intensity, recovery time, and sleep performance," its use has become more universal among the masses.
• The company is valued at $1.2 billion.
• WHOOP's website can be found here. 

Calm

• Calm is a meditation app.
• The company's most recent funding round brought its valuation to USD $2 billion.
• It was recognized as one of the World's Most Innovative Companies of 2020 and one of the 10 Most Innovative Wellness Companies of 2021.
• In 2019, the Calm app was downloaded by two new users per second. This has seen its paid subscribers numbers balloon to over 2 million. They each pay $70 annually for unlimited access.
• Calm's website can be found here.

Keep

• Keep is a Chinese fitness platform reported to have a valuation of around USD $2 billion.
• Keep is identified as "the leading fitness app in China" and has been credited as a pioneer in the Chinese digital fitness arena.
• This fitness app provides at-home workout videos with a consumer-first approach. This has ensured the growth of its user numbers to surpass the 300 million mark.
• By January 2020, these users had accumulated "a total of 22.4 billion minutes of exercise."
• Its website can be found here.

RESEARCH STRATEGY

Introduction

LabCorp

•  Website 
• Founded in 1995 from a merger between National Health Laboratories and Roche Biomedical Laboratories, LabCorp offers advanced diagnostic testing services from a deep well of scientific expertise to serve different clients including "managed care organizations, biopharmaceutical companies, governmental agencies, physicians and other healthcare providers, hospitals and health systems, employers, patients and consumers, contract research organizations, and independent clinical laboratories."
• LabCorp was selected as a top player based on its 2020 annual revenue of $14 billion.

Quest Diagnostics

•  Website 

• Quest Diagnostics is a global leader in providing "diagnostic testing, information, and services that patients and doctors need to make better healthcare decisions. Their services range from routine blood tests — such as total cholesterol, Pap testing and white blood cell count — to complex, gene-based and molecular testing."
• Quest Diagnostics was selected as a top player based on its 2020 annual revenues of $9.4 billion.

Onsite Health Diagnostics

•  Website 
• A leader in employee health and wellness clarity, Onsite Health Diagnostics stress-free biometric screenings through 5 methods: onsite, lab, retail pharmacy, physician form, and home test kit.
• Onsite Health Diagnostics was identified as one of the top players based on its estimated revenue of $52.7 million. 

Research Strategy

Introduction

Whil

• Whil was founded in 2014. It offers science-based mini-courses that leverages more than 300 evidence-based studies. Whil offers training in personal well-being, professional performance, and parenting "without the need for learning multiple apps and approaches."
• Whil was selected as a top player based on the number of people it has served. According to Myshortlister, it has served more than 12 million customers.

Strive Well-Being, Inc

• Strive Well-Being was founded in 2008 and is based in San Diego, California. It offers wellness education solutions for government employees and corporates. It offers more than 80 classes including group fitness classes, yoga classes, and educational webinars.
• Strive Well-Being was selected as a top player based on the number of people it has served. According to Myshortlister, it has served more than 450,000 customers.

Mediterranean Wellness

• Mediterranean Wellness "provides custom corporate wellness solutions, based on the specific needs of each client. This includes white labeled SSO portals, disease management, wellness education, challenges, and biometric integration." Its wellness education program includes webinars, health coaching, and discussion boards.
• Mediterranean Wellness was selected based on the number of clients. According to Myshortlister, it has served more than 350,000 customers.

Research Strategy

Introduction

Roots Organic Salon

• The Roots Organic Salon provides various types of beauty services such as hair care, skincare, and nails beautification using beauty products that are organic and free of harmful chemicals. The company is based in the U.S. 
• The company was chosen because of its relatively higher revenue compared to the other salons that also provide clean beauty products. It also got a USDA organic certification.
• Roots Organic Salon was also recognized as a Hall-of-Famer of the Marston Mills awards.
• The company's estimated revenue is less than $5 million.

Alexandra Soveral Salon

•  Alexandra Soveral is a salon based in London that offers various beauty services using "award-winning natural and organic products."
• The company was chosen because of its award-winning products that are made from natural and organic materials.
• It was also recognized by the Financial Times as one of the "best beauty and grooming service" providers in the world.
• The company's estimated revenue is less than $5 million.

Zanzi Hairdressing

•  Zanzi Hairdressing is a salon based in Australia that provides beauty services using natural products that are free from harmful chemicals. The salon is also transparent in sharing its ingredients with its customers.
• The salon was recognized by Urban List as one of the most sustainable beauty salons in Australia. The salon is also a member of the Sustainable Salons Australia program.
• The company's estimated revenue is less than $5 million.

Research Strategy

1. Mars

• Mars is a family-owned company with over 100 years of making sustainable products for the wellness of pets and families and presence in 80 countries.
• Its headquarters are located in the United States in McLean, Virginia, and its Petcare headquarters in Franklin, Tennessee.
• They aim to create a better world for mascots by developing the best products for pet well-being.
• Mars is the owner of many brands in the global Pet Wellness market, including the food and supplementary brands of Royal Canin, Cesar, Nutro, Whiskas, Goodlife Recipe, and Pedigree; and the pet healthcare brands of AniCura, Linnaeus, VCA, BluePearl, and Banfield Pet Hospitals.
• The company is recognized as the global leader in different segments of the Pet Wellness market, including the Pet Health & Wellness market, Pet Food market, Pet Supplement market, and Pet Dietary Supplements market.
• Mars' global revenue in 2020 was $37 billion.
• The company's website is www.mars.com.

2. Hill's Pet Nutrition, Inc.

• Hill's Pet Nutrition is a company owned by Colgate-Palmolive, headquartered in Topeka, Kansas, United States.
• They create premium food, vitamins, and supplements for pets, mainly cats and dogs.
• The company praises itself for using only therapeutic nutrition formulas tested by scientists and approved by veterinaries.
• Its brands include the pet food and supplements brands of Bioactive Recipe, Science Diet, Prescription Diet, and Healthy Advantage; and the pet healthcare brand of HillsVet.
• Hill's Pet also has pet community programs like Natural Disaster Support, Shelter Partners, Clear the Shelter, and Food, Shelter & Love.
• The company is recognized as one of the global leaders in different segments of the Pet Wellness market, including the Pet Health & Wellness market, Pet Food market, Pet Supplement market, and Pet Dietary Supplements market.
• Hill's Pet Nutrition's global annual revenue was $2,883 million in 2020, which represents 17% of Colgate-Palmolive's total net sales revenue.
• The company's website is www.hillspet.com.

3. Purina Petcare

• Purina Petcare is a company owned by Nestlé, with 80 years of history dedicated to pet nutrition and health and presence in over 70 countries.
• Its headquartered in Vevey, Switzerland, and St. Louis, Missouri, United States.
• They offer pet food, cat litter products, and pet snacks focused on providing health and nutritional solutions for senior cognition, digestive health, early development, and weight management of pets, mainly dogs and cats.
• Its brands include Purina Pro Plan, Beneful, Purina ONE, Dog Chow, Purina Veterinary Diets, Fancy Feast, Friskies, Mighty Dog, Alpo, Kibbles & Chunks, Deli-Cat, Busy Bone, Chew-rific, Gourmet Gold, HiPro, Mon Petit, Kit ‘N Kaboodle, TBonz, and Whisker Lickin’s.
• The company is recognized as one of the global leaders in different segments of the Pet Wellness market, including the Pet Health & Wellness market, Pet Food market, Pet Supplement market, and Pet Dietary Supplements market.
• Purina Petcare's annual revenue in 2020 was CHF 14 billion or $15,147,760,999.
• The company's website is www.purina.com.

Research Strategy

Key Takeaways

• Three top players in the global babies & children's nutrition market are Danone, Nestle, and Abbott Nutrition.
• Additional top players are Friesland Campina and Campbell Soups.
• Danone generated $144.88 billion in global annual revenue in 2020.
• Nestle generated $91.21 billion (CHF84.3 billion) in global annual revenue in 2020.

Introduction

Top Players

Danone

•  Danone is a food company operating in four segments: Essential Dairy and Herbal Products, Early Life Nutrition, Medical Nutrition, and Water.
• After acquiring WhiteWave, Danone restructured the company into three main segments: dairy products and essential vegetables, which account for just over half of the Group's sales; special nutrition; and bottled water.
• The company offers oral and tube feeding products for the dietary treatment of infants and children, liquid oral nutritional supplements, and hypoallergenic products for infants and children with a milk allergy or allergy to multiple dietary proteins, primarily under the brand name Nutricia.
• The company has been recognized as one of the market leaders in various industry reports.

• Danone generated $144.88 billion in global annual revenue in 2020.

Pestle

•  Nestle is a global food and beverage company. It offers products and services in several categories, including liquid and powdered drinks, health and nutritional sciences, dairy and ice cream, pet care, ready meals and kitchen aids, cookies, and water.
• The diverse product portfolio includes brands such as Nestle, Nescafe, Perrier, Pure Life, and Purina.
•  Nestle provides products and services for all stages of life, at all times of the day, and helps people look after themselves and their families.
• The company has been recognized as one of the market leaders in various industry reports.
• The company employs approximately 273,000 people and has factories or branches in almost every country in the world.
• The company has been recognized as one of the market leaders in various industry reports.
• Nestle generated $91.21 billion (CHF84.3 billion) in global annual revenue in 2020.

Abbott Nutrition

•  Abbott is a healthcare company specializing in brand-name generics, medical devices, nutritional supplements, and diagnostics.
•  Abbott is committed to educating healthcare professionals. The company goal is to improve patient outcomes, and improve the health of people around the world, in a measurable way.
• Through joint initiatives with leading organizations around the world, we help advance science-based nutrition. ANHI addresses the clinical and nutritional challenges facing healthcare professionals today.
• The company has been recognized as one of the market leaders in various industry reports.
• Abbott Nutrition generated $34.6 billion in global annual revenue in 2020.

Friesland Campina

•  FrieslandCampina produces and sells consumer goods such as dairy drinks, baby food, cheeses, and desserts in many European countries, Asia, and Africa through its subsidiaries.
• Major brands are Friesche Vlag, Chocomel, Fristi, Dutch Lady, Milner, Campina, Landliebe, Optimel and Mona.
• The company has been recognized as one of the market leaders in various industry reports.
• FrieslandCampina generated $13.056 billion (€11,140 million) in global annual revenue in 2020.

Campbell Soups

•  Campbell Soup was founded in 1869. Today they are a specialist brand with two divisions: Meals & Beverages and Snacks.
• The company's product range includes well-known brands such as Campbell's, Pace, Prego, Swanson, V8, and Pepperidge Farm. After selling international snack stores, the company receives almost all sales in its territory.
• Over the past few years, Campbell has made several acquisitions to change its product portfolio, including a partnership with Snyder'sLance (ended March 2018) which increases its access to a rapidly growing range of snack foods by completing the Pepperidge Farm product line.
• The company has been recognized as one of the market leaders in various industry reports.
• Campbell Soups generated $8.69 billion in global annual revenue in 2020.

Research Strategy

Introduction

Top Players in the Adult Personalized Nutrition Market

1) HUM Nutrition

• The company's website can be accessed here.
• The company started as a provider of vitamin supplements intended to contribute to healthy and clear skin. However, over time, HUM Nutrition has expanded to offer a variety of supplements that are formulated with clinically proven, triple-tested ingredients and are personalized to address specific issues, such as insomnia, immunity, bones & joints, hair and nails, anxiety, stress, metabolism, and food cravings, among others. It has a network of registered dietitians (RDs) to help individuals find the right supplements and create a tailored and customized supplement regimen through a three-minute online quiz assessing their health.
• On each product page, the customers can review the science behind each of the nutrients included in the supplements. The company's products range from $10 to $60. Customers can choose a monthly subscription plan, where their subscription box is shipped every 30 days, or buy a Commit and Save plan for 3, 6, or 12 months.
• As per Zoominfo, the company has an estimated revenue of $47 million. The company's products are available globally through international shipping except in countries like Germany, the UK, China, and Macau, where its products are available through local partnerships.
• The company has been included in this list of top industry players based on its revenue. Additionally, it has been mentioned as a key player in the personalized nutrition market in several industry lists and media articles from CNET, Byrdie, WWD, Healthline, etc.

2) Persona Nutrition

• The link to the company's website can be found here.
• The company provides individuals with formulated vitamin packs with all the nutrients that are personalized based on an in-depth questionnaire that covers lifestyle, physical activity, nutrition, prescription medications, sleep, dietary preferences, and more. The company offers free shipping to its customers and ships orders every 28 days in convenient daily dose packets, which are also eco-friendly and sustainable.
• Persona offers over 90 products, including a wide variety of letter vitamins, supplement blends, and herbal supplements. It also features an app that allows individuals to track their progress and adjust their regimen by connecting with a nutrition team comprising dietitians, pharmacists, and other health experts.
• As per estimates from Growjo, the company has an estimated revenue of $21.6 million. It operates as a subsidiary of Nestle Health Science company. Persona Nutrition is available in more than 140 countries via worldwide shipping. It provides personalized vitamin packs for as little as $30 a month.
• The company has been included in this list of top industry players based on its revenue. Additionally, it has been mentioned as a key player in the personalized nutrition market in several industry reports, including the ones from MarketsandMarkets, 360 Quadrants, and Arizton Advisory & Intelligence, among others, and media articles from CNET, Byrdie, WWD, Healthline, etc.

3) Care/of

• The link to the company's website can be found here.
• Care/of is a "vitamin subscription company that provides personalized supplement recommendations" and delivers them directly to the customers. The company assesses each customer on their overall health based on a short 5-minute quiz and leverages that information to create a personalized vitamin subscription plan based on each individual's current activity level, diet, goals, lifestyle, and values. The company was established in 2016, with its headquarters in New York. It offers its products in the US and Canada.
• It offers a wide range of products, including vitamins, minerals, herbal supplements, probiotics, specialty supplements, collagen powders, protein powders, boost powders, and Quick Sticks vitamin powder packs for on-the-go use. The company also features an app that allows individuals to track their supplement routine and ensure that they do not miss out on their daily dose of vitamins. Care/of has an average customer rating of 4.8 stars out of a possible 5 on Trustpilot. Around 80% of the customers have awarded the company the full 5 stars.
• As per Zoominfo, the company has an estimated revenue of $19 million. As per a Forbes article, Care/of has a total valuation of $225 million based on the recent transaction by Bayer AG to acquire a 70% stake in the company.
• The company has been included in this list of top industry players based on its revenue and valuation. Additionally, it has been mentioned as a key player in the personalized nutrition market in several industry reports, including the ones from MarketsandMarkets, 360 Quadrants, Arizton Advisory & Intelligence, and ResearchAndMarkets.com, among others, and media articles from CNET, Medical News Today, Healthline, etc.

Research Strategy

Key Takeaways

• Amway is one of the top providers of children's personalized nutrition products, with a reported revenue of around $8.5 billion in the year 2020.
• By-Health is one of the world's leading providers of children's personalized nutrition products, with an estimated revenue of about $6.02 billion in the year 2020.
• Nestlé Health Science is one of the leading providers of children's personalized nutrition products, with a revenue of CHF 3.3 billion ($3.6 billion) in 2020.

Introduction

Top Players in the Children's Personalized Nutrition Market

1. Amway

• According to a market report from Arizton, Amway is one of the major vendors within the overall personalized nutrition market. A link to the company's official website is available here.
• Amway was established in the year 1959, and it operates as a health and wellness company with over 1 million Amway Business Owners, or ABOs. On its website, Amway has a personalized health assessment it calls the "Nutrition Recommender", which gathers information about a consumer and provides them with science-backed personalized product recommendations.
• Headquartered in Ada, Michigan, Amway's leading brands include Artistry, XS energy drinks, and Nutrilite. Through Nutrilite, Amway sells personalized children's nutrition products, and it currently has 10 children's vitamins and supplements on sale through its website.
• As reported in a recent press release published by Amway, the company generated total sales of approximately $8.5 billion in the year 2020, which is why it was selected as one of the top players in the global children's personalized nutrition market. The company's nutrition offerings made up more than 50% of its sales for the year.

2. By-Health Co. Ltd.

• One of the top players within the global children's personalized nutrition market is By-Health, a China-based company. A link to the company's official website is available through this link.
• Founded in the year 1995, By-Health is a provider of science-based vitamin and dietary supplements, and the company maintains a 10.3% share of the VDS market in China alone. By-Health developed the first personalized vitamin mini-tablet supplements in the world, as well as the world's first core-algorithm-embedded equipment for these products.
• Today, the company has created over 30 different types of customized product ingredients. It currently offers 13 various nutritional products for children and teenagers, including chewables, tablets, oils, liquids, and powders.
• According to the Wall Street Journal, By-Health's revenue amounted to approximately $6.02 billion in the year 2020, which is why it was selected as one of the top players in the global children's personalized nutrition market.

3. Nestlé Health Science

• Nestlé Health Science, a unit of the Swiss company Nestlé, offers personalized nutrition products targeted at children through Persona, which operates as a science-centered proprietary technology that has created a personalized vitamin subscription program. Nestlé Health Science acquired Persona in August 2019 as a part of its objective to become the leader of the personalized nutrition segment.
• In March 2020, Persona's services expanded to over 60 nations around the world to help satisfy the worldwide consumer demand for personalized wellness services and products. As of 2020, its personalized nutrition products are available to consumers in Asia, Asia-Pacific, Europe, Middle East/Africa, North America, and South America.
• Persona offers personalized nutrition gummies for teenagers and children. It utilizes a direct-to-consumer sales model to bypass confusion and guesswork. Via the program's free online assessment, it inquires about a potential customer's lifestyle, prescription medication usage, fitness levels, and dietary preferences in order to provide science-supported and high-quality nutritional supplements "in customized daily packs directly to a customer’s doorstep every month."
• In 2020, Nestlé Health Science's sales amounted to around CHF 3.3 billion ($3.6 billion), which is why it was selected as one of the top players in the global personalized children's nutrition market. A link to the Nestlé Health Science website is available here.

Research Strategy:

European Market Size

• The global personalized nutrition market size was valued at $8.2 billion in 2020. Since Europe holds 26.89% of the global market, we estimate that this region's market size is about $2.2 billion (8,200,000,000x26.89/100=2,204,980,000).

 

Source

Useful Paywalled Reports

• Global Personalized Nutrition Market 2021-2027 (Global Information, Inc.). Price: $3,600.
• Europe Personalized Nutrition Market (Market Data Forecast). Price: $3,335.
• Europe Personalized Nutrition Market Report - Forecast 2026 (Consainsights). Price: $4,750.
• Personalized Nutrition Market Report (Axiom). Price: $4,150.

Research Strategy

Introduction

Personalized Nutrition Market — Segmentation

• According to Market Data Forecast, the European personalized nutrition market is categorized by product type, application, and end-use.
• The market is segmented into different categories by product type including, functional food, dietary supplements, active measurements, standard measurements, and functional drinks.
• By application, the market is categorized into different segments including, inherited diseases, sports nutrition, and medicinal supplements.
• Also, the market is segmented into various categories by end-users including, direct to consumers, hospitals, and ambulatory care.

Helpful Findings

• The Economist opines that about 70% of adults in the UK are using a personalized nutrition service.
• Globally, the personalized nutrition market is also segmented by product type, application, and end-use. However, the global market by application focuses on only standard supplements and disease-based divisions.
• Additionally, the product-type segment focuses on only active measurement and standard measurements. In contrast, the end-user segment is divided into direct-to-consumer, wellness and fitness centers, hospitals and clinics, institutions.
• For a forecast period of 2019 to 2027, Business Wire states that the active measurement tool segment would experience a 14.66% growth through 2027.
• Furthermore, Business Wire opines that the wellness and fitness center and sports segment are forecasted to grow by 14.15% and 15.85%, respectively, through 2027.
• According to Melanie Zanoza Bartelme, a global food analyst, about "34% of US diners would love to see more personalization and 55% of Canadian adult sport users would be interested in a nutritional plan based on their DNA."

Research Strategy

European Personalized Nutrition Market Growth

• The European personalized nutrition market is expected to grow at a CAGR of 9.4% from 2021 to 2027.

Drivers

• Consumer awareness of personalized nutrition is a major factor driving the European personalized nutrition market forward. To promote health and nutrition, there is a trend toward personalizing food for a better diet and greater awareness of healthy food.
• Inadequate nutrition, the prevalence of lifestyle disorders, and the growing population of senior citizens are driving retail sales of nutrition and health products in Europe, which is contributing to the market's growth.
•  Other factors driving the growth of the market include cohesive government initiatives to promote personalized nutrition intake, rising disposable income, and high demand for sports nutrition.
• The rising prevalence of chronic diseases necessitates the need for nutraceuticals and other essential dietary supplements, which propels the market's regional expansion.
• The growing demand for natural/organic food is another factor driving the market's growth.

Global Personalized Nutrition Market Growth

• The global personalized nutrition market is projected to grow at a CAGR of 16.0% from 2021 to 2030.

Drivers

• The market growth is expected to be driven by an increase in demand for personalized solutions as a result of rising health awareness and the growing trend of digital healthcare solutions over the forecast period.
•  Growing geriatric populations across regions, as well as changing consumer trends such as rising consumer preferences for high-quality nutritional food, are expected to boost personalized nutrition approaches.
• Technological advancements and increasing innovation are other factors driving market growth.

Research Strategy