Global Phytonutrients Market: Industry Size, Share, Opportunities, Trends, Analysis Report 2018 to 2024

Natural compounds derived from plant are called phytonutrients, which are powerful defenders of health. They have shown to reduce the risk of certain diseases and slow the aging process thereby promoting health. Along with imparting color and distinctive tastes & smells, Phytonutrients provide many functions in the plant itself, such as providing protection from pests and environmental stressors. In the human body, phytonutrients stimulate enzymes that help the body to boost the immune system, promote healthy estrogen metabolism, improve cardiovascular health, get rid of toxins and stimulate the death of cancer cells. Recently, interest in phytonutrients has increased, because of their antioxidant and free radical scavenging abilities. Today, phytonutrients act as a base compound for more than 40% of medications and are used in the treatment of a wide-range of diseases. Furthermore, the industries where fortified foods or dietary supplements are produced are having a huge demand for the phytonutrients.

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Phytonutrients Market Outlook:
The phytonutrients market is driven by various factor such as change in consumption pattern and rise in disposable income of the global consumers. Changing lifestyles and food habits among the consumers is also expected to fuel the growth of phytonutrients market. Furthermore, growing awareness among the consumers about the health benefits and increased demand for the functional food with good nutritional value are some of the reasons that are surging the demand of the phytonutrients in the global market. However, the excessive intake and side effects of phytonutrients may have adverse effects on the human body. This factor is anticipated to hamper the growth of the phytonutrients market.

Phytonutrients Market Segmental Overview:
The phytonutrients market is segmented by type, application, source and geography

Phytonutrients Market by Type:

Based on type, the phytonutrients market is segmented into carotenoids, phytosterols, flavonoids, phenolic compounds, vitamin E and other phytonutrients. Carotenoids is further divided into beta-carotenes, lutein, lycopene, astaxanthin, zeaxanthin, canthaxanthin and others (carotenoids). Whereas, phytosterols includes beta-sitosterol, campesterol, stigmasterol and others (phytosterols). The carotenoid segment dominated the global market in 2018, due to their growing demand for food and beauty supplements. Carotenoids is a type of phytonutrient that helps to reduce the risk of heart disease, blindness, stroke, and some kinds of cancer may favor natural carotenoids market demand.

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Phytonutrients Market by Application:

On the basis of application the market is segmented into food & beverages, feed, pharmaceuticals and cosmetics. Phytonutrients are used highly in a wide range of food & beverages therefore it occupies the largest share of the global market. The need to include all required nutrients in the balanced diet has led to the increase in demand for food & beverage industry in the global market. Moreover, phytonutrients in the pharmaceuticals industry and their consumption is anticipated to increase in the next five years.

Phytonutrients Market by Source:

Based on source, the phytonutrients market is segmented into fruits & vegetables, cereals, pulses, and oilseeds, herbs & trees and other sources. Fruits & vegetables are concentrated sources which produce high amount of phytonutrients, owing to these factor the fruits & vegetables segment has dominated the global phytonutrient market.

Phytonutrients Market by Geography:

By geography, the phytonutrients market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and Rest of the World (RoW). North America accounts for a larger share in the phytonutrients market. The market growth in the North America region is attributed to the factors such the increase in the disposable incomes, the wide presence of the market players in the region and growing awareness among the people. Moreover, Asia Pacific region is expected to grow at a faster rate during the forecast period 2020 to 2025. Changing consumer preferences and urbanization are the factors that support the market growth in the Asia-Pacific region.

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Phytonutrients Market Key Players:
Prominent players in the global phytonutrients market are Raisio Plc., Archer Daniels Midland Company, BASF SE, Cargill Inc., Chr. Hansen A/S, DSM N. V., Cyanotech Corporation, FMC Corporation, Kemin Industries Inc., Allied Biotech Corporation, Arboris Llc, Carotech Berhad, D.D. Williamson & Co., Döhler Group and Pharmachem Laboratories Inc. New product launches, mergers & acquisitions are the key strategies adopted by market players to ensure their growth in the market. For instance, in August 2018, BASF Animal Nutrition launched Lucantin NXT product line. The next generation of carotenoids is stabilized by propyl gallate (PG) and butylhydroxytoluene (BHT) or tocopherol. Extensive trials have shown that Lucantin NXT products deliver high homogeneity, outstanding stability and long shelf life while maintaining egg yolk and broiler skin coloring efficacy.

Key Questions Answered in Report:
• What are the future scope of global Phytonutrients market up to 2024?
• What are the challenges to market growth?
• Who are the key vendors in the global Phytonutrients market?
• What will the market size and the growth rate be in 2024?
• What are the key market trends impacting the growth of the global Phytonutrients market?

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This release was published on openPR.