A global industry survey conducted by Mumbai-based Nutrify Today, a nutraceuticals i2c (ideas to commercialization) platform, has found that there is growing optimism around the food and nutrition industry globally.
Nutraceutical industry leaders from the USA, Israel, Switzerland, Singapore, India, Hong Kong and Japan were engaged in the survey.
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 stated 26% of the respondents.
On the other hand, 12% of the respondents also believe that profiling individuals and providing specific dosages and ingredients as per their requirements will be a possibility too. The food can be prepared by a convergence of robotics and 3D printer using lab-grown ingredients as per the biochemistry and need of the body at that particular time.
Artificial Intelligence is going to play a pivotal role in the Nutra industry too as the food matrix will be designed as per individual needs using data and algorithm, opine 15% of the industry leaders.
Amit Srivastava, Chief Catalyst and Founder of Nutrify Today said, “There are already early-stage entrants who are working on the Nutra-tech. Nutraceuticals of the future will be a multi-disciplinary function of the science which will drive personalized precision nutrition into habits of individuals rather than individuals changing habits to adopt something new”.
Around 24% of the respondents believe that India will be a leading innovator second only to the United States. With the emergence of fingerprinting of Phyto ingredients from 52 agro-climatic zones, strengths of Indian IT industry coupled with convergence hub of MedTech like Biovalley Incubation Council and AMTZ in India will drive convergence innovation in Nutra-tech.
With the growing adoption of fingerprinting of Phyto ingredients, deployment of blockchain technologies, it will also change the agricultural sector with an increased demand for nutrition-rich. The industry leaders, on the other hand, also identified certain challenges like lack of skilled workforce and global regulatory framework, data privacy, high cost, etc.