Phytonutrients are certain specific, organic components found in plants, said to promote health benefits. Phytonutrients are gaining importance globally due to their potential health benefits and are facing growing demand from the fortified foods and dietary supplements industries. Vegetables, legumes, nuts, grains, fruits, and teas, are rich sources of phytonutrients
Phytonutrients are added to food for their disease-preventing properties. There are numerous commercial products, both raw materials and finished products, containing phytonutrients in different proportions. The phytonutrients market is projected to exhibit a growth potential (7.2%) in the next five years. As assessed, the growth of this market is to be propelled by the health benefits, increasing end-use applications, and government promotions regarding the consumption of phytonutrients.
The global phytonutrients market, in terms of value, is projected to reach $4.63 Billion in 2020, at a CAGR of 7.2% from 2015 to 2020. The market is projected to grow significantly in the next five years in almost all parts of the world, especially in European and North American countries. The high rate of adoption of phytonutrients by manufacturers drives the European market.
The phytonutrients market is highly fragmented with the key market players driving the growth with agreements, expansions, acquisitions, and new product launches to develop their position in the market. The market is competitive with leading players being involved in the research & development of new products and new application of phytonutrients.
The phytonutrients industry has many players, (small, medium, and large); however the industry is dominated by a few. Raisio Plc. (Finland), FMC Corporation (U.S.), DSM N.V. (The Netherlands), Chr. Hansen A/S (Denmark) and BASF SE (Germany) collectively account for around ~35% of the total phytonutrients market. Acquisitions were found to be the most preferred growth strategy in the phytonutrients market. The purpose of adopting this strategic expansion is that it results in increasing geographic presence, clientele, and product portfolio. Other players such as Pharmachem Laboratories, Inc. (U.S.), Archer Daniels Midland Co. (U.S.), Cargill Inc. (U.S.), Allied Biotech Corporation (U.S.), Arboris, LLC (U.S.), Dohler Group (Germany), Carotech Berhad (Malaysia), and D.D. Williamson & Co. (U.S.) also have a strong presence in the market.
This report estimates the market size of the global phytonutrients market in terms of value ($Million). In this report, the market is broadly segmented based on types, applications, sources, and regions. Market drivers, restraints, and challenges, raw material, and product price trends are discussed in detail. Market share, by participant, for the overall market is discussed in detail. The global phytonutrients market has grown exponentially in the last few years and this growth is expected to continue. Factors such as high efficiency, ease of application, and rise in health concerns are increasing the market for phytonutrients, globally.
Scope of the Report
Based on type, the market has been segmented as follows:
- Carotenoids
- Phytosterols
- Flavonoids
- Phenolic compounds
- Vitamin E
- Others (betalains, alkaloids, monoterpenes, anthocyanins, and lignans)
Based on application, the market has been segmented as follow:
- Food & Beverages
- Pharmaceuticals
- Cosmetics
- Feed
Based on source, the market has been segmented as follows:
- Fruits & Vegetables
- Cereals, Pulses & Oilseeds
- Herbs & Trees
- Others
Based on region, the market has been segmented as follows:
- North America
- Europe
- Asia-Pacific
- RoW
Phytonutrients are non-nutrient compounds in plants which are utilized as antioxidants, detoxify carcinogens, mimic hormones, enhance immune system, and suppress development of diseases, thus rendering a host of health benefits. They are formally classified as non-nutrients and unlike vitamins, phytonutrients are not considered important due to the fact that no known nutritional scarcities occur without intake. Although phytonutrients are not considered as essential, they alter hormonal balance (such as estrogen breakdown); convert beta-carotene into vitamin A; enhance immune system function; act as antioxidants; repair DNA damage caused by smoking or other toxic exposure; enhance cell-to-cell communication; and eradicate cancer cells.
Phytonutrients are naturally found in all items of plant origin, fruits, vegetables, grains, legumes, nuts, and teas. They are used widely as ingredients in the food, feed products, pharmaceuticals, and cosmetics industries.
Food&farming 