The size of phytonutrients market worldwide reached USD 5.46 Billion in 2022, and it is projected to experience a rapid growth in revenue at a CAGR of 7.3% throughout the forecast period. The increasing awareness surrounding the health benefits associated with phytonutrients, along with advancements in research and development (RD), a growing preference for natural and organic products, and the rising demand for functional foods and nutraceuticals, are significant drivers contributing to the expansion of market revenue.
Phytonutrients are natural substances found in plant-based foods like vegetables, fruits, whole grains, and legumes. These naturally occurring compounds within plants collaborate with other essential nutrients to support and enhance overall well-being. Moreover, the rising global population's demand for food and beverages (FB) and animal feed further propels the market growth, as phytonutrients are utilized as antioxidants in animal feed. This factor is expected to contribute to the increase in market revenue during the forecast period.
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Top Companies:
ADM, BASF SE, Cargill, Incorporated, Chr. Hansen Holding A/S, DSM, Cyanotech Corporation., FMC Corporation, Kemin Industries, Inc., Allied Biotech Corporation, Arboris, and DÖHLER.
Drivers of Phytonutrients Market
- Growing Health Consciousness: With increasing awareness about the importance of a healthy diet and lifestyle, consumers are actively seeking products that offer health benefits. Phytonutrients, also known as plant nutrients, are natural compounds found in fruits, vegetables, whole grains, and other plant-based foods, which are known for their potential health-promoting properties. The rising health consciousness among consumers is a significant driver of the phytonutrients market.
- Increasing Demand for Functional Foods and Nutraceuticals: There is a rising demand for functional foods and nutraceuticals, which are products that offer additional health benefits beyond basic nutrition. Phytonutrients are often incorporated into functional foods and nutraceuticals due to their potential antioxidant, anti-inflammatory, immune-boosting, and anti-cancer properties. The growing interest in functional foods and nutraceuticals is fueling the demand for phytonutrients.
- Rising Prevalence of Chronic Diseases: Chronic diseases such as cardiovascular diseases, cancer, diabetes, and obesity are on the rise globally. Phytonutrients have been extensively studied for their potential role in preventing and managing chronic diseases due to their bioactive properties. As the prevalence of chronic diseases continues to increase, the demand for phytonutrients as a preventive and therapeutic measure is also growing.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Phytonutrients market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Phytonutrients market is provided to gain a deeper understanding of its growth and progress.
The global Phytonutrients market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook (Revenue, USD Billion; 2019-2032)
- Carotenoids
- Phytosterols
- Flavonoids
- Phenolic Compounds
- Vitamin E
- Others
Source Outlook (Revenue, USD Billion; 2019-2032)
- Herbs Trees
- Fruits Vegetables
- Cereal, Pulses, and Oilseeds
- Others
Application Outlook (Revenue, USD Billion; 2019-2032)
- Pharmaceuticals
- Food Beverages (FB)
- Cosmetics
- Others
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