According to the research of Future Market Insights, over the projected period, the Phytonutrients Market is expected to expand at a CAGR of 5.6%. The industry's estimated value will increase from USD 4,339.0 Million in 2023 to USD 7,482.2 Million in 2033. The Phytonutrients Market was worth USD 4,132.4 Million at the end of 2022.
| Attributes | Details |
|---|---|
| Market Size Value in 2023 | USD 4,339.0 Million |
| Market Forecast Value in 2033 | USD 7,482.2 Million |
| Global Growth Rate (2023 to 2033) | 5.6% |
| Forecast Period | 2023 to 2033 |
| Global Market Share of US, Germany, Japan, and Australia | 68.6% |
With rising utilization of phytonutrients in decreasing diabetes and related disorders along with requirement for slowing down ageing process, pharmaceutical sector is predicted to dive in significant revenue growth potential for phytonutrients market. For instance, a study from the University of California, Los Angeles, showed that drinking pomegranate juice every day helped prostate cancer survivors' prostate antigen stability increase by about 4 times.
Additionally, the prevalence of cancer, heart disease, stroke, and blindness is fast rising, which is further boosting demand for and supply of phytonutrients. The likelihood that phytonutrients will be used in pharmaceuticals and dietary supplements is increased by all of these considerations.
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With a CAGR of 5.0% between 2018 and 2022, the global market for Phytonutrients Market expanded from USD 3,399.7 Million to USD 4,132.4 Million.
The global phytonutrients market has been growing rapidly in recent years and shows no signs of slowing down. Phytonutrients, also known as plant-based nutrients, are compounds found in plants that can have various health benefits when consumed. They are believed to be a key driver of the human immune system and are becoming increasingly popular for their potential health benefits.
The demand for phytonutrients is expected to continue growing due to increasing awareness about the importance of healthy eating, especially among millennials and Generation Z. This increased awareness is likely to be further bolstered by more people turning towards vegetarian and vegan diets, which often rely heavily on plant-based ingredients. Furthermore, rising incomes in emerging markets such as China and India are leading more people in these regions to purchase premium products with higher levels of phytonutrient content compared to traditional food options.
With a high CAGR of 5.6% over the projected period, it is expected that the global Phytonutrients Market would increase from USD 4,339.0 Million in 2023 to USD 7,482.2 Million by 2033.
The North American phytonutrients market is experiencing a surge of growth and innovation. This has led to the development of several new products that are helping consumers meet their nutritional needs.
As more people become aware of the health benefits associated with phytonutrients, they are increasingly looking for options that provide these nutrients in their diets. Many companies have responded by introducing phytonutrient-rich food items such as juices, snacks, bars, and supplements made from fruits, vegetables, herbs and spices. Additionally, technological advancements have enabled manufacturers to extract more efficient forms of plant-based ingredients from sources such as algae and seaweed which contain high concentrations of micronutrients like omega-3 fatty acids and carotenoids.
As more and more people become aware of the importance of nutrition for overall health, the market for phytonutrients in Europe has been steadily increasing. Phytonutrients are natural compounds found in fruits, vegetables, nuts and grains that can help protect cells from damage and provide essential vitamins and minerals. As awareness of their health benefits continues to grow, so does the demand for them on a global scale.
In Europe specifically, there has been an increase in phytonutrient-rich foods such as cruciferous vegetables like broccoli, kale and Brussel sprouts; dark leafy greens like spinach and Swiss chard; berries such as blueberries and raspberries; nuts like walnuts and almonds; beans such as pinto beans, garbanzos; whole grains like quinoa and oats; seeds such as flaxseed or pumpkin seed.
The market for phytonutrients in the Asia Pacific region is rapidly expanding due to an increased awareness of health and wellness among consumers. With a population of 4.4 billion, the region presents a huge opportunity for manufacturers and suppliers of phytonutrients to increase their market presence.
Growing consumer demand for natural ingredients with potential health benefits has been fueling the growth in phytonutrients across the Asia Pacific region. Consumers in countries such as India, China, Japan and Australia are increasingly looking for plant-based supplements that can provide additional nutrition with minimal risk of side effects. This has led to an expansion of formulations using phytonutrient extracts such as flavonoids, polyphenols, carotenoids and other bioactive compounds derived from plants or fruits.
Principal Consultant
The phytonutrients market is segmented by product type in order to better understand the industry's structure and dynamics. In terms of product type, the global phytonutrients market can be divided into carotenoids, phenolic compounds, glucosinolates, flavonoids, saponins, and others. Carotenoids are known for their antioxidant properties and are found in a variety of fruits and vegetables such as carrots, pumpkins, squash, spinach and tomatoes. Phenolic compounds are also antioxidants found in plant-based foods like tea leaves and olive oil.
Glucosinolates provide protection against cancer as they are responsible for producing anti-cancer compounds when molecules from plants are broken down during digestion. Flavonoids have anti-inflammatory properties while saponins provide antimicrobial benefits.
Phytonutrients are compounds found in plants that have medicinal value and may be beneficial to human health. They are gaining popularity as a potential alternative to pharmaceutical medicines, due to their natural properties and relatively low cost.
Studies have shown that these compounds can be used in the development of new drugs, with many being used as active ingredients in a variety of pharmaceutical products already. For example, some phytonutrients can be used as anti-inflammatory agents, antimicrobials, antioxidants and antifungals. Other phytonutrients such as carotenoids may also play a role in cancer prevention or treatment. In addition, some of these compounds appear to help protect against cardiovascular diseases and other chronic conditions.
The competitive landscape of the Phytonutrients market is an ever-evolving space. As consumer interest and demand for better nutrition and health continues to grow, companies are increasingly looking to leverage the power of phytonutrients. These naturally occurring compounds found in plants have been shown to have a wide range of benefits, from reducing inflammation to boosting immunity. Companies are now racing to develop new products featuring phytonutrient-rich ingredients, creating a highly competitive marketplace.
Market leaders such as Nestle and Unilever have been actively expanding their presence in the Phytonutrients market by developing innovative products that tap into consumer preferences for healthy eating. They are also investing heavily in research and development, securing valuable patents related to production techniques as well as marketing strategies.
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| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for Value and Units for Volume |
| Key Regions Covered |
North America; Latin America; Europe; Asia Pacific; MEA |
| Key Countries Covered |
Philippines, India, Malaysia, Thailand,USA, Germany, China, Japan, Denmark, Canada, Mexico, Poland, UK, Turkey, France, Italy, Spain, South Korea, Russia, Australia, Brazil, Argentina, South Africa |
| Key Segments Covered |
Product Type, Application, Region |
| Key Companies Profiled |
BASF SE; Chr Hansen Holding A/S; Novartis AG; Cargill Incorporated; Archer Daniels Midland Company (ADM) |
| Report Coverage | DROT Analysis, Market Forecast, Company Share Analysis, Market Dynamics and Challenges, Competitive Landscape and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The Phytonutrients market will reach nearly USD 4,339.0 Million by 2023.
The Phytonutrients market is expected to rise at a CAGR of 5.6%.
USA, Canada, Mexico, Argentina, Brazil, Germany, United Kingdom, France, Turkey, Italy, Russia, Spain China, Japan, India, Indonesia, South Korea, Australia are the major countries driving the demand for Phytonutrients market.
The China Phytonutrients market will grow at 4.5% CAGR between 2023 and 2033.
The India Phytonutrients market will grow at 6.2% CAGR between 2023 and 2033.
The UK Phytonutrients market will grow at 3.4% CAGR between 2023 and 2033.
• BASF SE • Chr Hansen Holding A/S • Novartis AG • Cargill Incorporated • Archer Daniels Midland Company (ADM)
The global demand for Phytonutrients market is forecasted to surpass USD 7,482.2 Million by the year 2033.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Product Type 6.2. Application 7. Global Market Analysis and Forecast, By Product Type 7.1. Alkaloids 7.2. Glucosinolates 7.3. Flavonoids 7.4. Resveratrol 7.5. Phytosterols 7.6. Ellagic acid 7.7. Carotenoids 7.8. Phenolic Compounds 8. Global Market Analysis and Forecast, By Application 8.1. Feed 8.2. Cosmetics 8.3. Food and Beverage 8.4. Pharmaceutical 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. Asia Pacific 9.5. MEA 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Asia Pacific Sales Analysis and Forecast, by Key Segments and Countries 14. MEA Sales Analysis and Forecast, by Key Segments and Countries 15. Sales Forecast by Product Type and Application for 30 Countries 16. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 17. Company Profile 17.1. BASF SE 17.2. Chr Hansen Holding A/S 17.3. Novartis AG 17.4. Cargill Incorporated 17.5. Archer Daniels Midland Company (ADM)
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Phytonutrients Market
