Phytonutrients Global Market Report 2024

The phytonutrients market size has grown strongly in recent years. It will grow from $4.31 billion in 2023 to $4.7 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The upsurge observed in the historical timeframe is a result of heightened consumer consciousness regarding health advantages, a burgeoning inclination towards plant-based diets, the surge in nutraceutical and functional food preferences, backed by scientific studies validating health assertions, and the rising consumer desire for natural antioxidants.

The phytonutrients market size is expected to see strongly grown in the next few years. It will grow to $6.64 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the upcoming period can be ascribed to a focus on proactive healthcare approaches, wide-ranging uses in functional food and beverage sectors, the burgeoning expansion of the nutraceutical industry, heightened interest in plant-based supplements, and an increasing incorporation into personalized nutrition initiatives. Key trends projected in this period encompass the use of unique and innovative sources, prioritization of clean label and natural offerings, integration of phytonutrients into skincare items, industry-wide collaboration and partnerships, as well as comprehensive consumer education and awareness initiatives.

The projected surge in cardiovascular disease cases is anticipated to drive growth within the phytonutrient market. These diseases impact the heart and blood vessels, and phytonutrients play a vital role in reducing oxidation of low-density lipoproteins, consequently improving lipid profiles and regulating endothelial cell apoptosis. As reported by the Centers for Disease Control and Prevention in October 2022, a significant portion (85%) of deaths were attributed to heart attacks and strokes in the US. This substantiates the driving force behind the rising demand for phytonutrients.

The escalating adoption of health-conscious lifestyles is poised to fuel the expansion of the phytonutrient industry. Health-conscious choices encompass deliberate decisions aimed at enhancing overall well-being through mindful selections of food, habits, and lifestyle practices. Phytonutrients, derived from plant-based sources, align with this ethos by providing natural compounds that support preventive health measures. The 2022 Food and Health Survey by the International Food Information Council indicated a substantial increase in dietary consciousness among Americans, with 52% adhering to specific diets or eating patterns, compared to 39% in 2021 and 43% in 2020. This upward trend in health-conscious choices significantly influences the growth trajectory of the phytonutrients market. A prominent trend in the phytonutrients sector revolves around product innovation. Key industry players prioritize the development of novel products to meet evolving customer demands. In January 2022, DSM Corporation, a Netherlands-based entity specializing in phytonutrients, introduced HiPhorius, a comprehensive phytase solution targeting poultry breeders. This innovation enhances broiler performance by providing consistent improvements and higher nutrient values through targeted nutrition via phytate degradation. HiPhorius sets a new standard in phytase technology, offering producers greater flexibility in optimizing diets for poultry, swine, and aquaculture species. Moreover, it contributes to improved animal lifetime performance, reduced livestock emissions, and more efficient utilization of natural resources.

In February 2022, ABF Ingredients (ABFI), a UK-based expert in ingredient solutions, successfully finalized the acquisition of Fytexia Group for an undisclosed amount. This deliberate step was aimed at diversifying ABFI’s product line and bolstering its capabilities, particularly within the pharmaceutical, nutritional, and food industries. Fytexia Group, headquartered in France, stands out as a prominent life science company recognized for its expertise in delivering cutting-edge nutritional components, notably flavonoids, developed through rigorous scientific research methodologies.

Major companies operating in the phytonutrients market report are Raiso PLC, FMC Corporation, Royal DSM N.V, Chr Hansen A/S, BASF SE, Archer Daniels Midland Company, Cargill Inc., Kemin Industries Inc., Pharmachem Laboratories Inc., Allied Biotech Corporation, Arboris LLC, Dohler GmbH, Carotech Berhad, DD Williamson & Co. Inc., Cyanotech Corporation, DowDuPont Inc., PhytoSource inc., Koninklijke DSM N.V., Takasago International Corporation, Kerry Group PLC, Ingredion Incorporated, Tate & Lyle PLC, Foodchem International Corporation, Kothari Phytochemicals International Ltd., Hindustan Herbals Ltd., Brlb International, Merck Co. & KGaA, ConnOils LLC, Xi'an Healthful Biotechnology Co., Vitae Caps S.A.

Europe was the largest region in the phytonutrients market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phytonutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the phytonutrients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain The phytonutrient market consists of sales of alkaloids, glucosinolates, resveratrol, and ellagic acid. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The main types of phytonutrients are carotenoids, flavonoids, isothiocyanates, monoterpenes, organosulfur, phenolic, and saponins. Carotenoids are pigments found in plants, algae, and photosynthetic microorganisms, and serve as a form of antioxidant in humans. These are available from various sources including fruits and vegetables, cereals, pulses and oilseeds, herbs and trees, and others that are used for different applications such as food and beverages, pharmaceuticals, cosmetics, supplements, and other applications.

The phytonutrients market research report is one of a series of new reports provides phytonutrients market statistics, including phytonutrients industry global market size, regional shares, competitors with a phytonutrients market share, detailed phytonutrients market segments, market trends and opportunities, and any further data you may need to thrive in the phytonutrients industry. This phytonutrients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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