A report by market analyst Euromonitor International highlights the two phenomena among the top 10 global consumer trends for this year. Euromonitor cited the growing interest in personalized health and beauty as the key driver behind the rising popularity of DNA testing. While still an emerging market, estimated at US$70MM (£51MM) in 2015, this sector is growing rapidly. By 2020, it’s expected to be worth US$340MM (£247MM), according to data from Credence Research, quoted in Euromonitor’s trend report.
The global market is currently seeing a surge in companies providing a group that Euromonitor refers to as “I’m so special” consumers with genetic data related to health, fitness, and nutrition. Some of these companies, which include 23andMe, Orig3n, DNAFit, FitnessGenes, Habit, and Nutrigenomix, also offer tailor-made fitness and nutrition programs based on the genetic findings.
DNA testing has also penetrated the beauty market, with companies such as UK-based Geneu offering customers a DNA testing service. The brand then puts together a personalized prescription for the client, recommending a particular Geneu serum based on the test results.
Euromonitor states that while consumers were largely unaware of the existence of genetic testing 10 years ago, the falling price of such tests, alongside improved marketing and regulatory changes, have contributed to making the technology mainstream. Data quoted in the report reveals that only 13% of respondents in a US survey had tried genetic testing by 2017. However, an additional 25% said they planned to have a genomic test in the following 12 months.
Euromonitor said: “DNA testing appeals to consumers’ increasingly health-obsessed and self-centric sensibilities. Customers range from those with genuine concerns about their risk of developing certain inherited diseases to those who merely want to make lifestyle improvements based on the health findings.”
Euromonitor also predicted that from 2018 onwards consumers will increasingly take advantage of augmented reality (AR) to “visualise products before they try or buy, both in-store and online.” From a beauty perspective, this will include consumers “looking for AR apps that test cosmetics in a selfie-style format.”
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