Phytonutrients, natural compounds abundant in plants, contribute to their color, flavor, and resilience against diseases. These compounds, including flavonoids, carotenoids, and polyphenols, offer significant health benefits, acting as antioxidants and anti-inflammatories when consumed through a plant-based diet. Capitalizing on this, the phytonutrient market thrives in producing dietary supplements and functional foods. These products, fortified with phytonutrients such as curcumin and resveratrol, cater to a health-conscious consumer base, offering potential benefits such as immune support and reduced risk of chronic diseases such as cancer and heart disease. This market trend underscores the growing interest in natural, plant-based solutions for overall wellness and disease prevention.
Global Phytonutrients Market values at USD 4.34 billion in 2023 is projected to reach USD 7.68 billion by 2031 and will grow at a CAGR of 7.4% during the forecast period of 2024-2031.
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Below are the Top Phytonutrients companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Merck KGaA
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Merck KGaA is a global science and technology company with a diverse portfolio, including healthcare, life science, and performance materials. In the phytonutrients market, Merck offers innovative solutions for plant-based nutrition, leveraging its expertise in research and development to develop high-quality ingredients and additives for dietary supplements and functional foods.
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Europe, Africa, North America, Latin America, Oceania, and Asia
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In December 2021, Merck KGaA has expanded its strategic, corporate venture capital arm M Ventures. The company has investment of € 600 million allocated to M Ventures. This has helped the company to further grow both the number and size of investments.
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2.
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Cargill, Incorporated
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Cargill is a leading international producer and marketer of food, agricultural, financial, and industrial products and services. In the phytonutrients market, Cargill plays a significant role in the supply chain, sourcing and processing raw materials such as fruits, vegetables, and grains rich in phytonutrients. The company also offers ingredient solutions and expertise to food and beverage manufacturers seeking to fortify their products with phytonutrients.
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Europe, Middle East and Africa, Americas, and Asia-Pacific
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In November 2018, Cargill, Incorporated entered into a partnership with six-channel partners for the distribution of their food ingredients. The six partners were Univar Inc., Gillco Ingredients, International Food Products Corporation, Batory Foods, Pearson Sales Company and St. Charles Trading, Inc. from the U.S. and Canada. This helped company to broaden its geographical presence and reach out to more customers.
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3.
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BASF SE
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BASF is a multinational chemical company known for its wide range of products, including chemicals, plastics, and performance products. In the phytonutrients market, BASF provides ingredients and solutions for dietary supplements, functional foods, and personal care products. Leveraging its expertise in research and development, BASF develops innovative phytonutrient formulations to address various health concerns and meet consumer demands.
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Europe, Middle East and Africa, South America, North America, and Asia-Pacific
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In January 2017, BASF SE has opened a new technical application laboratory located at Singapore Polytechnic for its nutrition and health business. This laboratory is focuses on providing the right nutrients to the right people at the right time.
This has helped the company in regional expansion.
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4.
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DSM
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DSM is a global science-based company active in health, nutrition, and sustainable living. In the phytonutrients market, DSM offers a range of vitamins, carotenoids, and other bioactive compounds derived from plants for use in dietary supplements and functional foods. The company focuses on sustainability and innovation, ensuring the quality and efficacy of its phytonutrient products while meeting the evolving needs of consumers and regulatory standards.
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Europe, Middle East and Africa, South America, North America, and Asia-Pacific
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In March 2021, DSM launches ampli-D, a 3 times faster-acting form of vitamin D supplement in Australia. This product launch has helped the company to widen its product portfolio.
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5.
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ADM
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ADM is one of the world's largest agricultural processors and food ingredient providers, supplying a wide range of products, including grains, oils, and specialty ingredients. In the phytonutrients market, ADM plays a key role in sourcing, processing, and distributing plant-based raw materials rich in phytonutrients. The company also offers ingredient solutions and expertise to food and beverage manufacturers looking to enhance the nutritional profile of their products with phytonutrients.
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Europe, Americas, Middle East and Africa, and Asia-Pacific
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In October 2016, the company has introduced unique extracts containing beta carotene and anthocyanins for various application industries, including food, beverages, and supplement application. This move was taken to extend the product line of the company's botanical extracts.
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Conclusion
In the growing phytonutrients market, companies such as Merck KGaA, Cargill, BASF SE, DSM, and ADM are pivotal players, each contributing unique expertise and resources. Their involvement spans from sourcing and processing raw materials to developing innovative formulations and providing ingredient solutions for dietary supplements and functional foods. As consumer demand for natural, plant-based solutions for health and wellness continues to rise, these companies are poised to play an even more significant role in shaping the future of the phytonutrients market. Their commitment to quality, innovation, and sustainability underscores the industry's potential to positively impact global nutrition and health outcomes.
