Phytonutrients Market projected to Grow at CAGR of 6.2% from 2018 to 2023 | Detailed in New Research Report

“\”Phytonutrients Market Global Research Report\””
Phytonutrients Market Global Research Report Type (Carotenoids, Phytosterols, Flavonoids and Vitamins), Application (Food & Beverages, Cosmetics and others) region (North America, Europe, Asia Pacific and RoW) – Forecast till 2023

Market Overview:

Phytonutrients are compounds found in plants serving various functions, which includes protecting the plant’s vitality. Not only do they benefit the plant but also provides various benefits to the consumers of the phytonutrients. They have health promoting properties such as antioxidant, anti-inflammatory, and liver-health-promoting activities. They are applicable in various industries such as food & beverages, supplements, pharmaceuticals, and cosmetics owing to their health beneficial properties.

Phytonutrients are plant nutrients which not only benefits the plant but are also beneficial to the human body. They have health-promoting benefits and are considered as an effective source for reducing cancer and heart disease risks. The most common phytonutrients include carotenoids, phytosterols, flavonoids, and vitamins. They have gained application in various industries such as food & beverages, supplements, pharmaceuticals, cosmetics, and others

Europe is dominating the market and is the fastest growing market in phytonutrients over the forecast period 2017-2023. Germany, France, and Italy are the major contributor to phytonutrients market in Europe. Presence of the major key players in this region is a primary reason for the growth of phytonutrients market in Europe. The high focus on R&D by the key players is boosting the growth of phytonutrients in this region.

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Rising inclination towards functional foods among the growing health-conscious population has opened doors for phytonutrients market in this region. Moreover, growth in supplements segment in Europe is propelling the growth of phytonutrients market in this region. Phytonutrients are also gaining steady growth in cosmetics segment which is adding advantage

To the growth of the market in this region. All these factors are projected to grow the Europe market at a CAGR of 6.7% during the forecast period, 2017-2023.

Major Key Players:

This report includes a study of strategies such as mergers, acquisitions, and product launches by the major phytonutrients players. It further includes product portfolios, developments of leading players, which includes

Some of the key players profiled in the global Phytonutrients market are Archer Daniels Midland Company (U.S.), BASF SE (Germany), CARGILL INC (U.S.), DSM N. V. (The Netherlands), FMC CORPORATION (U.S.), KEMIN INDUSTRIES INC. (U.S.), Chr. Hansen A/S (Denmark), CYANOTECH CORPORATION (U.S.), Dohler GmbH (Germany), RAISIO PLC. (Finland)

Key Findings:

The U.S., France, China, Germany, and Italy are the major markets contributing to the phytonutrients market

Phytonutrients is gaining traction in supplements followed by pharmaceuticals

Segments:

On the basis of type, phytonutrients market is segmented into carotenoids, phytosterols, flavonoids, vitamins, and others. Among them, the carotenoids segment is dominating the market followed by the flavonoids segment. The carotenoids act as antioxidants which is primarily driving its application in various industries. However, phytosterols is also expected to have a substantial growth over the forecast period.

Based on the application, phytonutrients market is segmented into food & beverages, supplements, pharmaceuticals, cosmetics, and others. Among all, the food & beverages hold the major share of the market. However, there is a considerable growth witnessed in the supplements segment followed by the pharmaceuticals segment.

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Regional Analysis:

Phytonutrients Market is segmented into Europe, North America, Asia Pacific, and rest of the world (RoW). Europe is dominating the market followed by North America. Germany, France, and Italy are the major contributors to the growth of the phytonutrients market. Presence of the major key players in this region is driving the growth of phytonutrients market in Europe and North America. Moreover, increasing consumption of functional foods in the U.S. is supporting the growth of phytonutrients market in North America.

Asia Pacific is projected to be the fastest growing region over the forecasted period. India and China are the major contributors in this region owing to the increasing health awareness and increase in consumption of healthy foods. Latin America is also expected to witness moderate growth over the estimated period in which Brazil and Mexico are the major contributors.

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