Bangalore, India—There is a growing optimism around the food and nutrition industry globally. That’s the word from a global industry survey conducted by nutraceuticals i2c (idea-to-commercialization) platform Nutrify Today, in collaboration with the nutraceuticals brand marketing firm Baker Dillon Group. Nutraceutical industry leaders from the U.S., Israel, Switzerland, Singapore, India, Hong Kong, and Japan participated in the survey.
Key findings, as outlined in a press release:
- 26% of respondents said the technological advancements in the Nutra industry will enable a more personalized approach towards nutrition over the next three years, with accurate sensors possible via collaborations with expertise in the medtech industry.
- 15% of respondents said artificial intelligence will play a pivotal role in the industry as the food matrix will be designed for individual needs using data and algorithm
- 15% of respondents believe profiling individuals and providing specific dosages and ingredients as per their requirements will be a possibility. Food can be prepared by a convergence of robotics and 3D printing using lab-grown ingredients as per the biochemistry and need of the body at that time.
“Automated personalized nutrition where artificial intelligence will manage the nutrient needs and the source of ingredients will evolve into sustainable methodologies using biotech,” says Amit Srivastava, Chief Catalyst and Founder of Nutrify Today, which strives to shape the growth of the nutraceuticals industry by empowering responsible nutrition businesses, connecting businesses and sharing knowledge. “There are already early-stage entrants who are working on Nutra-tech. Nutraceuticals of the future will be a multi-disciplinary function of science which will drive personalized precision nutrition into habits of individuals rather than individuals changing habits to adopt something new.”
According to Nutrify Today, precision nutrition using Nutra tech will gain global significance in the future. In the survey, 44% of respondents said the U.S. will be a leading innovator, followed by 24% indicating that India will be a leading innovator. The company pointed to the growing adoption of fingerprinting of phyto ingredients and deployment of block-chain technologies. Survey respondents also identified challenges, including lack of skilled workforce and global regulatory framework, data privacy, and high cost.
“In a complex environment with opportunity and challenges, it’s often the new generation of start-ups that drive innovation, and the same is evident from all emerging success stories across the world,” said Srivastava. “Tech nutra will be an innovation driven by start-ups and eventually there will be large nutrition conglomerates who will enter this segment by way of merger and acquisition.”