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 US$ 4,339.0 Million in 2023 to US$ 7,482.2 Million in 2033. The Phytonutrients Market was worth US$ 4,132.4 Million at the end of 2022.
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.
Key Takeaways:
- The global phytonutrients market is projected to grow at a CAGR of 5.6%, reaching USD 7.48 billion by 2033, up from USD 4.34 billion in 2023.
- Increasing demand for natural, plant-based compounds to boost health benefits in pharmaceuticals and dietary supplements is a major growth driver.
- Growing awareness about chronic disease prevention, such as cancer and cardiovascular diseases, is bolstering market expansion.
Market Growth Factors:
- Health Awareness: Consumers are increasingly shifting toward phytonutrient-rich foods due to their anti-inflammatory, antioxidant, and antimicrobial properties, driving demand in both food and pharmaceutical sectors.
- Pharmaceutical Applications: With studies showcasing the potential health benefits of carotenoids, flavonoids, and phenolic compounds, phytonutrients are becoming integral in drug formulations for cancer prevention, cardiovascular protection, and immunity enhancement.
- Rising Veganism and Natural Ingredients: The rise of vegan diets and preference for natural food ingredients is fueling demand for phytonutrient-enriched products, especially in Asia-Pacific and North America.
Key Companies Profiled
BASF SE; Chr Hansen Holding A/S; Novartis AG; Cargill Incorporated; Archer Daniels Midland Company (ADM)
Segmentation of Phytonutrients Market
Segmentation by Product Type:
- Alkaloids
- Glucosinolates
- Flavonoids
- Resveratrol
- Phytosterois
- Ellagic acid
- Carotenoids
- Phenolic
- Compounds
Segmentation by Application:
- Feed
- Cosmetics
- Food and beverage
- Pharmaceutical
Segmentation by Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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