Global Phytonutrient Ingredients Market – 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 global 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 of 2022-2029. 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.

Report Scope and Market Segmentation

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Market Definition

Plants contain biologically active compounds known as phytonutrients. These nutrients benefit human health and can be obtained through a plant-based diet. Carotenoids, flavonoids, phenolic compounds, and vitamins are some of the most essential phytonutrients. These nutrients have a variety of health benefits, including lower risk of chronic diseases, increased immunity, and protection against oxidative stress.

Phytonutrient Ingredients Market Dynamics

Drivers

• 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, yogurts, spreads, margarine, 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 antioxidant 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 Applications from the Pharmaceutical Industry

Plant extracts are widely used in the pharmaceutical industry due to their beneficial properties, which help the market remain profitable. The antibacterial effect of phytonutrients, particularly for treating age-related disorders such as memory loss, immune disorders, and osteoporosis, contributes 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.

Opportunities

• Expansion of Functional Foods and Beverages Presents Significant Opportunities for Innovation

The market for phytonutrient ingredients is experiencing growth, driven by increasing consumer interest in functional foods and beverages fortified with these health-enhancing compounds. Manufacturers are actively integrating phytonutrients into diverse products such as juices, snacks, and dairy alternatives to meet this rising demand. This trend underscores a shift towards healthier dietary choices and presents significant opportunities for innovation and expansion within the functional food and beverage industry worldwide.

• Growing Interest in Skincare for its Antioxidant Benefits

The phytonutrient ingredients market is expanding into the beauty and personal care segment as demand grows for natural and organic skincare solutions. Phytonutrients, prized for their antioxidant and anti-inflammatory properties, are incorporated into skincare and beauty products to cater to this trend. With consumers seeking healthier alternatives, the market for phytonutrient-rich ingredients in beauty products is flourishing, presenting lucrative opportunities for manufacturers to capitalize on this growing demand.

Restraints/Challenges

• Dependence on Specific Agricultural Regions and Seasonal Variations can lead to Supply Chain Disruptions

The phytonutrient ingredients market faces supply chain vulnerability due to reliance on specific agricultural regions and seasonal fluctuations. Climate change and natural disasters further threaten the consistency and availability of phytonutrient-rich crops, potentially disrupting production and distribution.

This 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 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.

Recent Developments

• 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 primary 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 primary strategy behind this movement is to offer original products to consumers, increasing brand loyalty among consumers and increasing company growth

Phytonutrient Ingredients Market Scope

The 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.

Type

• Phenolic Compounds
• Betalains
• Monoterpenes
• Lignans
• Carotenoids
• Flavonoids
• Vitamin E
• Alkaloids
• Anthocyanins

Source

• Herbs and Trees
• Fruits and Vegetables
• Cereals
• Pulses and Oilseeds

Application

• Pharmaceuticals
• Feed
• Food and Beverages
• Cosmetics

Phytonutrient Ingredients Market Regional Analysis/Insights

The market is analyzed, and market size insights and trends are provided by type, source, and application as referenced above.

The countries covered in the 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).

Europe is expected to dominate the market due to rising consumer demand for plant-based foods, driven by health consciousness and increased disposable income. Government regulations, including GRAS status and EU approval, further bolster market growth. Phytonutrients address various health concerns, enhancing their popularity. Consequently, the market is anticipated to expand significantly, fueled by these factors over the forecast period.

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 such as 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 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 market.

Some of the major players operating in the market are:

• Cargill, Incorporated (U.S.)
• Divi's Laboratories Limited (India)
• dsm-firmenich (Switzerland)
• Solabia Group (France)
• Allied Biotech Corporation (Taiwan)
• E.I.D. - Parry (India) Limited (India)
• Cyanotech Corporation (U.S.)
• BASF SE (Germany)
• Kemin Industries, Inc. (U.S.)
• Lycored (Israel)
• Farbest Brands (U.S.)
• BORDAS S.A. (Spain)
•  Layn Natural Ingredients (China)
• Döhler GmbH (Germany)
• ADM U.S.)
• International Flavors & Fragrances Inc. (U.S.)
• Kothari Phytochemicals & Industries Ltd. (India)
• Ashland (U.S.)
• dynadis (France)
• PhytoSource, Inc. (U.S.)

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