Phytonutrients Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.10 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Phytonutrients Market Analysis
The Global Phytonutrients Market is poised to grow at a CAGR of 7.1% during the forecast period.
The phytonutrient market is driven by the rising consumer demand for functional food and dietary supplements which holds potential for plant nutrients as they can't be synthesized naturally in the human body and hence, it needs to be taken externally. Subsequently, the growing trend of vegan food among consumers is further rising the sales of plant-fortified food products in the market. This, in turn, increases the consumption of phytonutrients in the food industry.
The increasing demand for organic food and beverages is propelling the growth of phytonutrients in the market. The demand for phytonutrients is also increasing in the field of nutraceuticals as consumers prefer vegan or plant-based alternatives more than animal-based products. Additionally, phytonutrients are witnessing increasing demand from the animal feed industry.
Furthermore, phytonutrients are witnessing a higher need in the personal care and cosmetic industry as commonly used in skincare and cosmetics, due to their positive effect on maintaining the skin's health and youth. Creams and cosmetic products containing these compounds smoothen the skin and moisturize it, prevent the formation of wrinkles, and help in collagen synthesis. As a result, the growing demand for phytonutrients in the cosmetic industry is anticipated to fuel market growth.
Phytonutrients Market Trends
Rising Trend of Functional Food and Supplements Driving the Market Growth
With the changing lifestyle of consumers, the trend for a healthy diet is drastically increasing among consumers. Consumers are more into healthy foods such as vegetables, fruits, nuts, etc.; these products are rich in phytonutrients and other vitamins. Moreover, these food products escalate several health benefits to consumers; thereby, consumer demand is also rising. Due to the increasing demand for phytonutrient products, many pharma companies are also innovating several techniques to innovate several health supplements to meet the consumer's preference. In addition, rapidly increasing eye problems, cancer, heart diseases, and stroke cases stimulate the demand and supply of phytonutrients. All these factors increase the probability of phytonutrients being utilized in dietary supplements and pharmaceutical drugs, driving the market. Alongside this, the demand for functional food and beverages that are fortified with essential phytonutrients like vitamins and minerals is propelling the growth of the market further. Manufacturers are incorporating these ingredients into their products, in turn, increasing the growth of the market studied. Therefore, the rising awareness about healthy eating habits, along with increasing demand for functional and fortified food and beverages and dietary supplements is driving the growth of phytonutrients market globally.
Europe is the largest market
Europe is anticipated to dominate the global phytonutrients market with a significant market share owing to the increasing consumer demand for plant-based food products. Moreover, the growing demand for plant-derived fortified food products across the country is increasing the growth of the market studied. There is an expansion of the phytonutrient market in the region, due to an increase in demand for non-GMO products. On the other hand, the increasing disposable income of consumers is further raising the sales of phytonutrient food products in the market. Alongside this, phytonutrients help in dealing with different health problems like cardiovascular diseases, gastrointestinal problems, and others. Consequently, the growing health problems, along with an increasing geriatric population in the country is driving the growth of the market. Further, government regulations relating to phytonutrients impact the growth of the market. In line with this, phytonutrients are recognized as GRAS (Generally Recognized As Safe), along with having gained regulatory approval from the European Union. Thereby, the increasing consumption of phytonutrient food products, rising health issues, and benefiting government regulations are anticipated to propel market growth over the forecast period.
Phytonutrients Industry Overview
The market studied is highly competitive in nature due to the presence of domestic and international players in this sector. Some major vital global phytonutrient markets include Cargill, Incorporated, DuPont de Nemours, Inc., BASF SE, Kerry Group plc, and The Archer-Daniels-Midland Company, among others. Key players are focusing on product development and innovation to meet the industry's needs by offering a variety of tastes and product quality to maintain premiumization. Some of the major players use mergers and acquisitions as their key strategy. The strategy to follow mergers and acquisitions by these top players is to sustain and secure a leading position in the industry; this will enable the companies to maintain dominance over other players, and also, the companies can keep intense competition for other players in the market.
Phytonutrients Market Leaders
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Cargill, Incorporated
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DuPont de Nemours, Inc.
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BASF SE
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Kerry Group plc
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The Archer-Daniels-Midland Company
*Disclaimer: Major Players sorted in no particular order
Phytonutrients Market News
- November 2022: Artemis International launched its new blend of berry extracts namely, BerryActive5. This phytonutrient ingredient included elderberry, blueberry, cherry, cranberry, and aroni extracts. The company claimed to offer this phytonutrient, which has applications in the fortification of food and beverages.
- January 2022: DSM Corporation launched HiPhorius™, which is a phytase solution. According to the company, the respective solution will help poultry farm producers achieve sustainable and profitable protein production. The major strategy behind the company to innovate HiPhorius is to expand the company's business in different segments by increasing the company's product portfolio.
- July 2021: Lycored partnered with Herbalife Nutrition, to provide its phytonutrient ingredient, Lycoderm to Herbalife skin health product, LycoGlow. The company claims that Lycoderm consists of tomato phytonutrients, along with resemary leaf.
Phytonutrients Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Vitamins
5.1.2 Minerals
5.1.3 Probiotics
5.1.4 Omega-3 & 6 Fatty Acids
5.1.5 Carotenoids
5.1.6 Proteins & Amino Acids
5.1.7 Other Types
5.2 Application
5.2.1 Bakery & Cereals
5.2.2 Dairy & Dairy Alternative Products
5.2.3 Meat & Seafood
5.2.4 Confectionery
5.2.5 Beverages
5.2.6 Other Applications
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 India
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 United Arab Emirates
5.3.5.2 South Africa
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Strategies Adapted by Leading Companies
6.3 Company Profiles
6.3.1 Cargill, Incorporated
6.3.2 BASF SE
6.3.3 Archer Daniels Midland Company
6.3.4 DuPont de Nemours, Inc.
6.3.5 Arla Foods amba
6.3.6 Kerry Group
6.3.7 Koninklijke DSM NV
6.3.8 Ingredion Incorporated
6.3.9 Tate & Lyle PLC
6.3.10 Foodchem International Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Phytonutrients Industry Segmentation
Phytonutrients are chemical compounds produced by plants, generally to help them resist fungi, bacteria, and plant virus infections, and also consumption by insects and other animals. The global phytonutrient market is segmented by type, application, and geography. Based on type, the market is segmented into vitamins, minerals, probiotics, omega-3 & 6 fatty acids, carotenoids, proteins & amino acids, and other types. Based on application, the market is segmented into bakery & cereals, dairy & dairy alternative products, meat & seafood, confectionery, beverages, and other applications. Based on geography, the study analyzes the phytonutrients market in emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based on the value (in USD million).
| Type | |
| Vitamins | |
| Minerals | |
| Probiotics | |
| Omega-3 & 6 Fatty Acids | |
| Carotenoids | |
| Proteins & Amino Acids | |
| Other Types |
| Application | |
| Bakery & Cereals | |
| Dairy & Dairy Alternative Products | |
| Meat & Seafood | |
| Confectionery | |
| Beverages | |
| Other Applications |
| Geography | |||||||||
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Phytonutrients Market Research FAQs
What is the current Phytonutrients Market size?
The Phytonutrients Market is projected to register a CAGR of 7.10% during the forecast period (2024-2029)
Who are the key players in Phytonutrients Market?
Cargill, Incorporated, DuPont de Nemours, Inc., BASF SE, Kerry Group plc and The Archer-Daniels-Midland Company are the major companies operating in the Phytonutrients Market.
Which is the fastest growing region in Phytonutrients Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Phytonutrients Market?
In 2024, the Europe accounts for the largest market share in Phytonutrients Market.
What years does this Phytonutrients Market cover?
The report covers the Phytonutrients Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Phytonutrients Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Phytonutrients Industry Report
Statistics for the 2024 Phytonutrients market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Phytonutrients analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
