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Phytonutrients Market by Type, Application, Source, & by Region - Global Trends and Forecast to 2020

Phytonutrients Market: Forecast until 2020

  • June 2015
  • 203 pages
  • ID: 3086638
In this report:
According to European Federation of Pharmaceutical Industries and Associations (EFPIA), the global pharmaceuticals market was estimated at $##.## billion in 2014 with North America accounting for a ##% market share, followed by Europe, with a ##.##% share.
According to the Nutritional Business Journal (NBJ 2012b), the global market size for functional food was $##.## billion in 1997, the functional food/beverages market topped with $## billion in 2012, up by ##%.

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Phytonutrients are certain specific, organic components found in plants and are gaining popularity owing to their health benefits. Phytonutrients are considered essential for human health, as they help in altering hormonal balance ; converting beta-carotene into vitamin A; enhancing immune system functions; antioxidants; repairing DNA damage caused by smoking or other toxic exposure; enhancing cell-to-cell communication; and eradicating cancer cells. The common types of phytonutrients contain carotenoids, phenolic compounds, flavonoids, phytosterols, alkaloids, and others (including cyclic compounds, monoterpenes, lignans, saponins, anthocyanins, and sulfides & thiols). Carotenoids, phytosterols, and phenolic compounds are currently the most widely found and used in different sectors including food & beverages, feed, pharmaceuticals, and cosmetics.

Phytonutrients are found in plant-based life and are used as a referral to the general, nutritional composition of plants. They are not essential in keeping the body active but are known to prevent diseases in the body and are frequently advertised as antioxidants. They can be found in a majority of plant-based foods, containing vegetarian alternatives. There are studies still in progress to measure the benefits of the phytonutrients available.

The increasing trend of fortification of food with vitamins, folate, minerals, and herbal extracts has created a more favorable environment for the increase ot the phytonutrients market. Phytonutrients are used extensively in a wide range of food & beverages including yogurts, milk, sausages, cold cuts, bakery products, spicy sauces, margarines, and spreads. Phytonutrients have the most important application in the pharmaceuticals sector and their consumption is estimated to growth in the upcoming five years.

Key industry actors are investing extensively in R&D initiatives to extend their products review. Continuous investment in new product improvement and launches, and acquisitions has expanded the scope of the market. Top players in the sector are introducing functional food & beverage products with phytonutrients added and are promoted as products with health benefits.

Europe (EU) maintains the biggest share of the overall phytonutrients market. In the forthcoming years, the sector is forecasted to grow quickest in the North American area, making it the quickest revenue-generating pocket.

The overall market is marked with intense competition due to the presence of a big number of big and small companies. New industry product developments & launches, mergers & acquisitions, and business developments are the top strategies approved by market actors to assure increase in the industry. The sector is leaded by, is monopolized by players including the FMC Corporation, BASF SE, Pharmachem Laboratories Inc., DSM N.V., Chr. Hansen A/S, and Raisio Plc.. In this industry report, the overall phytonutrients market is broken down into type, application, source, and area. The overall phytonutrients market was valued at ~$3.0B in 2014 and is expected to grow at a compound annual growth rate (CAGR) of 7.20 percent between 2015 and 2022.

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