Global Phytonutrient Ingredients Market, By Type (Phenolic Compounds, Betalains, Monoterpenes, Lignans, Carotenoids, Flavonoids, Vitamin E, Alkaloids, and Anthocyanins), Application (Pharmaceuticals, Feed, Food & Beverages, and Cosmetics), Source (Herbs & Trees, Fruits & Vegetables, and Cereals, Pulses and Oilseeds) – Industry Trends and Forecast to 2029.
Phytonutrient Ingredients Market Analysis and Size
The use of phytonutrients is becoming increasingly popular due to their health benefits. Phytonutrients are in high demand in industries that produce fortified foods or foods. Phytonutrients are abundant in legumes, grains, vegetables, nuts, and fruits. Plant phytonutrients are created to protect plants from harmful environmental changes.
Data Bridge Market Research analyses that the phytonutrient ingredients market was valued at USD 5.00 billion in 2021 and is expected to reach the value of USD 9.25 billion by 2029, at a CAGR of 8.00% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Phytonutrient Ingredients Market Scope and Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Phenolic Compounds, Betalains, Monoterpenes, Lignans, Carotenoids, Flavonoids, Vitamin E, Alkaloids, and Anthocyanins), Application (Pharmaceuticals, Feed, Food & Beverages, and Cosmetics), Source (Herbs & Trees, Fruits & Vegetables, and Cereals, Pulses and Oilseeds),
U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA)
Market Players Covered
Givaudan (Switzerland), International Flavors & Fragrances Inc (U.S.), Symrise (Germany), Sensient Technologies Corporation (U.S.), Synthite Industries Ltd (India), Synergy Flavors Inc. (U.S.), Döhler Group (Germany), Indesso (Indonesia), Vidya Herbs (India), Nutra Green Biotechnology Co., Ltd. (China) BASF SE (Germany), Dohler GmbH (Germany), FMC Corporation (U.S.), Cyanotech Corporation (U.S.)
Plants contain biologically active compounds known as phytonutrients. These nutrients are beneficial to human health and can be obtained through a plant-based diet. Carotenoids, flavonoids, phenolic compounds, and vitamins are some of the most important phytonutrients. These nutrients have a variety of health benefits, including lower risk of chronic diseases, increased immunity, and protection against oxidative stress.
Global Phytonutrient Ingredients Market Dynamics
- Growing demand from the food and beverage industry due to its numerous health benefits
Phytonutrients are commonly used as a nutrient additive in bakery products, yoghurts, spreads, margarines, sausages, milk, and spicy sauces. Consumers' changing lifestyles and food habits are expected to increase demand for phytonutrient products. Phytonutrients' numerous health benefits, including anti-inflammatory, anti-viral, anti-bacterial, and anti-oxidant properties, also encourage their increased use. Changes in global consumer consumption patterns and rising disposable income are also expected to fuel the growth of the phytonutrients market.
- Growing application from the pharmaceutical industry
Plant extracts are widely used in the pharmaceutical industry due to their beneficial properties, which helps the market remain profitable. The antibacterial effect of phytonutrients, particularly for treating age-related disorders like memory loss, immune disorders, and osteoporosis, is contributing to an increase in demand for plant extract for medicine manufacturing. Furthermore, the increasing regulatory requirements for using plant extracts as phyto medicine are expected to provide lucrative market opportunities for the growth of the phytonutrient ingredients segment, which is expected to boost demand over the forecast period.
Technological advancements and improvements in the plant extraction process increase a company's production capability and allow it to extract various components from plants efficiently and at a low cost and effort, resulting in new market entrants and the expansion of existing market players' product lines. For instance, new technological advancements in cannabis extraction production methods were made in 2019. With the introduction of high-tech manufacturing equipment and chemical apparatus, the cannabis industry is able to move away from traditional extraction techniques and experiment with new and innovative approaches. This has allowed the introduction of new cannabis extracts to the market, such as oral tinctures, wax concentrates, and vape oils.
The growth of the phytonutrients ingredients market may be hampered in the coming years due to the poor quality of raw materials used to produce phytonutrients. Furthermore, the standard quality determination technique for phytonutrients is insufficient, which may impede the growth of the global market during the forecast period. Inadequate phytonutrient supplements in regulating products may also have an impact on the growth of the phytonutrients ingredients Market Size.
This phytonutrient ingredients market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the phytonutrient ingredients market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Phytonutrient Ingredients Market
Strict containment measures imposed by various governments and preventive measures to mitigate the impact of the outbreak have resulted in significant transportation restrictions, causing a global ripple effect. Transportation is critical in any market's supply chain because it is responsible for transferring raw materials to manufacturers and then distributing the finished product from manufacturers to the retail market. The pandemic had brought global transportation to a halt in order to halt the spread of the virus. Product delivery has been delayed due to low working efficiency and lockdown in various regions. Many logistics companies were operating at low efficiency with few working staff, causing supply chain disruption.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
- In 2022, DSM Corporation launched HiPhoriusTM, a phytase solution. According to the company, the respective solution will assist poultry farm producers in achieving sustainable and profitable protein production. The company's main strategy for innovating HiPhoriusTM is to expand the company's business in different segments by expanding the company's product portfolio.
- In 2021, Cyanotech Corporation Company introduced new labels for its phytonutrient brands, BioAstin Hawaiian Astaxanthin and Hawaiian Spirulina Pacifica. According to the company, the strategy behind this new label launch is to differentiate the company's original product from third-party products on the market. The company's main strategy behind this movement is to offer original products to consumers, increasing brand loyalty among consumers and increasing company growth.
Global Phytonutrient Ingredients Market Scope
The phytonutrient ingredients market is segmented on the basis of type, source, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Phenolic Compounds
- Vitamin E
- Herbs & Trees
- Fruits & Vegetables
- Pulses & Oilseeds
- Food & Beverages
Phytonutrient Ingredients Market Regional Analysis/Insights
The phytonutrient ingredients market is analysed and market size insights and trends are provided by country, type, source, and application as referenced above.
The countries covered in the phytonutrient ingredients market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Rising consumer health consciousness in the European region has resulted in increased market demand for phytonutrients. Pharmaceutical companies, cosmetics companies, and the food and beverage industries are likely to drive the demand for phytonutrients. As a result, manufacturers are actively investing in R&D to meet the growing demand.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Phytonutrient Ingredients Market Share Analysis
The phytonutrient ingredients market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to phytonutrient ingredients market.
Some of the major players operating in the phytonutrient ingredients market are:
- Givaudan (Switzerland)
- International Flavors & Fragrances Inc (U.S.)
- Symrise (Germany)
- Sensient Technologies Corporation (U.S.)
- Synthite Industries Ltd (India)
- Synergy Flavors Inc. (U.S.)
- Döhler Group (Germany)
- Indesso (Indonesia)
- Vidya Herbs (India)
- Nutra Green Biotechnology Co., Ltd. (China)
- BASF SE (Germany)
- Dohler GmbH (Germany)
- FMC Corporation (U.S.)
- Cyanotech Corporation (U.S.)