Personalized food: optimized nutritional solution based on the biological information06 October 2020Nowadays, consumers want to understand what they eat or drink exactly, in order to select or avoid specific ingredients. Responding to that, the range of alternative food ingredients is expanding in the market.
Food companies try to grab the opportunities, as consumer demands are likely to grow in the future.
Personalization of food and drinks is an interesting concept that has considerable growth potential. It can offer optimal nutritional value to individuals, based on the analysis of individual biological information. Online-based start-up companies are especially active in here, offering various types of online tests for personalization. At the same time, major food manufacturers are working on combining personalized nutrition in their business models.
As the market is still in the developmental phase, food companies need to carefully design their business models and develop right products to successfully participate in this growth market. Definition of target groups, implementation of smart marketing strategies, and development of a profitable business model are key factors to consider.
One promising approach for a business model could be the combination of personalized food with consultation service. For instance, companies can provide interesting additional functions which are based on personal information, such as monitoring of positive developments of health indicators. Further, the use of personalized nutrition in treatment of certain medical conditions, e.g. addiction and weight management, could be attractive features which could lead to a larger consumer pool.
In this initial market phase, there is still a huge potential to differentiate products and services and it is not certain which business models and products will be flourishing in next years. It is however foreseeable that consumers will be able to enjoy a large variety of approaches towards personalized nutrition in combination with interesting services.
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