- Item type
- Study and report
- Dissertation
- Language
- English
- Publication year
- 2024
- Contributors
- Subjects
- MARKETING
With a market size estimated to reach USD 629.02 billion by 2029, the nutraceutical industry is a fast-growing field that is experiencing a digital revolution driven by artificial intelligence (AI). To greatly increase market competitiveness and customer engagement, AI-driven marketing and sales tactics are being proposed in this dynamic sector, which includes major industry players including Herbalife Nutrition, General Mills, Nestlé, Torrent Pharma and Bayer AG, but also many small start-apps.
Using a strict methodology that includes quantitative consumer surveys and market data analysis, and qualitative interviews with prominent industry figures, and real-world case studies, this thesis aims to reveal the revolutionary possibilities and realities of artificial intelligence in transforming sales and marketing tactics in this incredible industry. And the initial results are promising, showing that AI integration has significantly increased personalised marketing, improved customer interaction, provides robust predictive analytics, and accurate sales forecasting.
Additionally, the research reveals an increasing trend among nutraceutical companies to implement AI, even in the face of obstacles related to data protection and the necessary technical expertise.
Summarising, by means of a detailed investigation of AI-powered marketing and sales models combined with perceptive talks about obstacles, this thesis aims to provide a logical, all-encompassing comprehension of the digital revolution taking place in the nutraceutical industry. Thus, the goal is to provide a substantial academic and practical framework to the emerging story of AI's participation in health-centric markets, assisting players in skilfully navigating the digital future.
